Welcome to our dedicated page for MetLife news (Ticker: MET), a resource for investors and traders seeking the latest updates and insights on MetLife stock.
MetLife, Inc. provides insurance, annuities, employee benefits and asset management through subsidiaries and affiliates serving individual and institutional customers. Founded in 1868, the company operates in more than 40 markets and reports activity across the United States, Asia, Latin America, Europe and the Middle East.
Company updates commonly cover quarterly results, net investment income, variable investment income, financial supplements, capital deployment and dividends. News also includes developments at MetLife Investment Management, including private fixed income origination and PineBridge Investments, as well as employee-benefits research and shareholder communications such as responses to unsolicited mini-tender offers.
MetLife's subsidiary, Metropolitan Tower Life Insurance Company, has entered an agreement with Weyerhaeuser Company to provide annuity benefits for nearly 5,200 retirees under Weyerhaeuser's defined benefit pension plan, totaling approximately $765 million. This partnership aims to offer guaranteed lifetime income, thereby reducing Weyerhaeuser's pension risk exposure. The deal, closed in December 2020, will not alter monthly benefits for retirees. MetLife, recognizing its 100 years in group annuity contracts, manages about $3 billion in benefit payments annually for 720,000 annuitants.
MetLife, Inc. (NYSE: MET) has appointed Merrilee Matchett as Executive Vice President and Head of Global Customer Service & Operations, effective March 29, 2021. Reporting to Bill Pappas, Matchett brings extensive experience from Bank of America, where she managed operations for wealth management and personal retirement businesses with over $3 trillion in client balances. Her strategic, customer-centric approach aims to enhance service excellence at MetLife. Matchett is an advocate for diversity in financial services and holds a B.A. in management from the University of Canberra, Australia.
MetLife has appointed James Reid as the new CEO of Versant Health, effective April 1. Reid brings over 30 years of insurance industry experience, including leadership roles at MetLife and Aetna. He is expected to drive growth and innovation at Versant, which serves over 35 million members nationwide. Reid succeeds Kirk Rothrock, who is retiring after successfully consolidating multiple vision care companies into Versant over the last eight years. The transition aims to maintain Versant's growth momentum and customer focus.
Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, has successfully completed four longevity reinsurance transactions with Legal & General, covering approximately $2 billion in pension liabilities. This strategic partnership aims to assist Legal & General in managing longevity risk effectively. Jay Wang, senior vice president at MetLife, expressed enthusiasm for this collaboration, highlighting the strong potential for future growth in the U.K. pension and longevity risk transfer market.
MetLife, Inc. (NYSE: MET) has declared a common stock dividend of $0.46 per share for the first quarter of 2021. This dividend is scheduled for payment on March 15, 2021, to shareholders on record as of February 5, 2021. Established in 1868, MetLife is a leading global financial services firm, offering various products including insurance and asset management across more than 40 markets.
MetLife, Inc. (NYSE: MET) will hold a fourth quarter and full year 2020 earnings conference call on February 4, 2021, from 9-10 a.m. ET. The earnings news release and related financial materials will be available on February 3, 2021, after market close. This call will detail the company's financial results, business operations, and future outlook. Interested participants can join via telephone or through the internet. A replay of the call will be available from February 4 to February 11, 2021. For further details, visit MetLife's Investor Relations website.
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MetLife Investment Management (MIM), the asset management division of MetLife (NYSE: MET), announced a $130 million investment in the senior secured private placement financing of Brookfield Renewable Partners' Sidney A. Murray, Jr. Hydroelectric facility in Louisiana. This investment, part of a total $560 million financing, includes $74 million for unaffiliated clients and supports Brookfield's renewable energy initiatives. MIM manages a $94.1 billion private placement debt portfolio and emphasizes its commitment to environmental sustainability, aligning with its long-term goals.
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” for Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company. Additionally, AM Best upgraded the FSR for MetLife’s dental and vision subsidiaries to A+ (Superior) from A (Excellent), reflecting strong operational performance and strategic importance within MetLife's portfolio. With a stable outlook for all ratings, this solidifies MetLife's strong market position and financial resilience.
MetLife, Inc. (NYSE: MET) announced a new $3 billion stock repurchase program, following the completion of its previous authorization. CEO Michel Khalaf emphasized the company's commitment to capital management, highlighting that despite challenges, they expect to invest $3 billion in new business and $1.7 billion in growth-oriented M&A by year-end. Furthermore, they plan to return at least $2.6 billion to shareholders through dividends and share buybacks, while maintaining a strong liquidity buffer.