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 (NYSE: MET) has agreed to sell Metropolitan Property and Casualty Insurance Company and its subsidiaries to Farmers Group, a subsidiary of Zurich Insurance Group, for $3.94 billion in cash. The deal includes a 10-year strategic partnership allowing Farmers to offer its products on MetLife’s U.S. Group Benefits platform, which serves 3,800 employers and roughly 37 million employees. This transaction aims to enhance MetLife's focus on core strengths following its recent acquisition of Versant Health, positioning the company for growth in employee benefits.
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MetLife Foundation has committed $4 million in grants to aid COVID-19 relief efforts for low-income individuals and small businesses in the U.S. This initiative finalizes their total commitment of $25 million to global COVID-19 responses. The funding includes significant allocations to organizations like Breaking Ground and the YMCA of Greater New York to combat homelessness, alongside $1.25 million for food banks in key states. Additionally, a $2 million grant will support minority and women-owned businesses via the Local Initiatives Support Corporation. MetLife is also providing a $10 million loan for affordable housing initiatives.
MetLife, Inc. (NYSE: MET) has declared several preferred stock dividends, effective December 15, 2020, for shareholders of record as of November 30, 2020. The dividends include:
- $0.25277777 per share for Series A preferred stock.
- $9.66971055 per share for Series C preferred stock.
- $351.5625 per share for Series E preferred stock.
- $296.875 per share for Series F preferred stock.
These offerings reinforce MetLife's commitment to returning value to shareholders.
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MetLife's 2020 Pension Risk Transfer Poll reveals that 81% of plan sponsors are unaffected by the pandemic regarding annuity buyouts. The poll shows a strong interest in these transactions, with 51% citing market volatility as a key factor. Despite some financial strains, including 40% borrowing to fund pension deficits, most sponsors plan to act within five years. Nearly 89% of sponsors are leveraging the CARES Act to extend contribution deadlines. The findings indicate a resilient approach to managing defined benefit plans amidst market challenges.
MetLife, Inc. (NYSE: MET) reported third quarter 2020 results with net income of $633 million, down 71% year-over-year, translating to $0.69 per share. Adjusted earnings rose 33% to $1.6 billion, or $1.73 per share. Total revenues decreased 14% to $16.0 billion, driven by a 6% drop in premiums and fees. Book value per share increased by 8% to $76.20. The company's strong financial performance was supported by a rebound in variable investment income and effective expense management. Notably, MetLife resumed share repurchases in this quarter.
MetLife, Inc. (NYSE: MET) has released a financial update video for Q3 2020, presented by CFO John McCallion. The video aims to provide insights into the company's financial performance during the quarter. Investors and stakeholders can access the video on MetLife's official website. MetLife operates globally, providing various financial services including insurance and asset management, serving numerous markets worldwide.
Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, has completed a longevity reinsurance deal with Rothesay Life plc. This agreement entails providing reinsurance for longevity risk tied to approximately $320 million of pension liabilities. Graham Cox from MetLife emphasized the importance of reinsurance in securing retirement benefits for U.K. pensioners. The transaction enhances MetLife's presence in the U.K. longevity reinsurance market and strengthens its relationship with Rothesay, a leading insurer in pension de-risking.