MetLife Stock Price, News & Analysis

MetLife, Inc. (NYSE: MET) has enhanced the onboarding process for its Worldwide Benefits members, focusing on globally-mobile employees. This new program provides personalized benefits communication throughout the first year of their assignment, addressing a gap identified in MetLife's 2022 Expat Employee Benefits Study, where 65% of participants expressed a need for more relevant information. The initiative includes customized email communications that guide employees through key milestones, ensuring they comprehend their benefits and resources effectively during international assignments.

MetLife, Inc. (NYSE: MET) has confirmed its previously announced dividend of $0.36056250 per share on its floating rate non-cumulative preferred stock, Series A, with a liquidation preference of $25 per share (NYSE: MET PRA). The dividend is payable on March 15, 2023, to shareholders recorded as of February 28, 2023. The ex-dividend date will be set by the New York Stock Exchange following this announcement.

MetLife is a leading financial services company, providing a range of insurance and asset management services globally.

MetLife, Inc. (NYSE: MET) announced the appointment of Donna Carr as the new Head of U.S. Group Service and Operations, effective May 16, 2023. Reporting to Merrilee Matchett, Carr will oversee the U.S. Group Benefits call center and operations, enhancing customer experiences across Group Dental, Disability, and Life services. With extensive experience from Bank of America and a background in operational excellence, Carr aims to leverage technology to strengthen customer care. This strategic hire supports MetLife's commitment to delivering innovative solutions and improving customer service in its 154-year history.

MetLife Investment Management has successfully completed its acquisition of Raven Capital Management, announced in February 2023. This transaction adds approximately $2.1 billion to MIM's total assets under management, enhancing its private credit platform and origination capabilities. Steven J. Goulart, president of MIM, emphasized that this acquisition allows for a broader array of credit strategies for clients. Raven specializes in direct asset-based investments, including senior secured loans, bolstering MetLife's investment offerings. As of December 31, 2022, MetLife has $579.8 billion in total assets under management.

MetLife, Inc. (NYSE: MET) has appointed Jeh Charles Johnson to its board of directors, effective immediately. Johnson, a partner at Paul, Weiss, has a robust background in cybersecurity and held significant roles such as Secretary of Homeland Security and General Counsel of the U.S. Department of Defense. MetLife's Chairman, R. Glenn Hubbard, and President & CEO, Michel Khalaf, expressed confidence that Johnson's expertise will be invaluable as the company aims for improved performance in 2023. Johnson also serves on various prestigious boards and has received numerous accolades for his public service.

According to MetLife's 2023 Post Retirement Benefits Poll, 88% of plan sponsors are considering retiree medical buyouts, while 84% are exploring retiree life buyouts. These transfers are seen as ways to mitigate investment and longevity risks, thus benefiting corporate balance sheets. The poll also revealed that 86% of companies maintain open retiree medical and life insurance plans, with 85% of sponsors acknowledging the financial impact on their statements. Key legislation, including the SECURE 2.0 Act, is aiding sponsors in managing funding levels for these obligations, crucially extending the ability to transfer excess pension assets until 2032.

MetLife Investment Management (MIM), the institutional asset management division of MetLife (NYSE: MET), has announced its definitive agreement to acquire Raven Capital Management, a private investment firm managing approximately $2.1 billion in assets as of December 31, 2022. This acquisition aims to enhance MIM's capabilities in higher-yielding private credit offerings and broaden its investment strategies. With Raven's expertise in direct asset-based investments, including senior secured loans, MIM expects enhanced origination in key asset classes. The deal is subject to customary closing conditions.