MetLife

MetLife Completes $5 Billion Longevity Reinsurance Transactions with Rothesay

Thursday, February 25, 2021 - 3:35pm

MetLife, Inc. announced today that its subsidiary, Metropolitan Tower Life Insurance Company, has closed its second and third longevity reinsurance transactions with Rothesay Life Plc, reinsuring approximately $5 billion of pension liabilities associated with two U.K. bulk annuity transactions completed in the fourth quarter of 2020.

Key Points: 
  • MetLife, Inc. announced today that its subsidiary, Metropolitan Tower Life Insurance Company, has closed its second and third longevity reinsurance transactions with Rothesay Life Plc, reinsuring approximately $5 billion of pension liabilities associated with two U.K. bulk annuity transactions completed in the fourth quarter of 2020.
  • With these transactions, we will continue to execute on our strategy, using our actuarial expertise and history managing longevity risk to expand our footprint within the U.K. longevity reinsurance market.
  • We are pleased to continue to grow our relationship with MetLife through these longevity reinsurance agreements.
  • Reinsurance contracts are issued by Metropolitan Tower Life Insurance Company (Met Tower), Lincoln NE, a wholly owned subsidiary of MetLife.

MetLife and Principal to Provide Annuity Benefits to Philips North America, LLC Retirement Participants

Tuesday, February 23, 2021 - 5:30pm

Principal Financial Group and Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, Inc. (MetLife), announced today they entered into an agreement with Philips North America LLC (Philips) to transfer approximately $1.2 billion of Philips North America Pension Plan obligations to Principal Financial Group (Principal) and MetLife.

Key Points: 
  • Principal Financial Group and Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, Inc. (MetLife), announced today they entered into an agreement with Philips North America LLC (Philips) to transfer approximately $1.2 billion of Philips North America Pension Plan obligations to Principal Financial Group (Principal) and MetLife.
  • MetLife is pleased Philips entrusted us, along with Principal, to provide guaranteed lifetime income to the companys retirement participants, said Graham Cox, executive vice president and head of Retirement & Income Solutions at MetLife.
  • MetLife will act as the lead administrator for the monthly benefits for approximately 9,000 retirees and their beneficiaries in the Philips North America Pension Plan.
  • Principal will have financial responsibility for a portion of these monthly benefits and will settle such obligations directly with MetLife.

MetLife Investment Management Supports Prince George’s County Public Schools With $203.5 Million in Public-Private Partnership Financing

Monday, February 22, 2021 - 4:28pm

MetLife Investment Management (MIM) , the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced it has completed a Public-Private Partnership (PPP) transaction that will provide $203.5 million in funding for Marylands Prince Georges County Public Schools , the second largest public school system in the state and a top 20 public school district in the United States1.

Key Points: 
  • MetLife Investment Management (MIM) , the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced it has completed a Public-Private Partnership (PPP) transaction that will provide $203.5 million in funding for Marylands Prince Georges County Public Schools , the second largest public school system in the state and a top 20 public school district in the United States1.
  • The $203.5 million transaction was managed by Fengate Capital Management and Gilbane Development Company and was part of a broader $478.5 million financing package for the district.
  • The $203.5 million loan supports the future education needs of Prince Georges County Public Schools, which was seeking financing partners to replace aging school buildings.
  • Were very proud to be partnering with Prince Georges County Public Schools on this critical initiative to build new schools for 8,000 Maryland students, said Steven J. Goulart, president of MetLife Investment Management and chief investment officer of MetLife, Inc.

Jingsu Pu Rejoins MetLife Investment Management as Global Head of Insurance Strategy & Solutions and Head of Institutional Client Group, Asia Ex-Japan

Thursday, February 11, 2021 - 3:53pm

MetLife Investment Management (MIM) , the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that Jingsu Pu has rejoined the firm as global head of Insurance Strategy & Solutions and head of Institutional Client Group (ICG), Asia, excluding Japan.

Key Points: 
  • MetLife Investment Management (MIM) , the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that Jingsu Pu has rejoined the firm as global head of Insurance Strategy & Solutions and head of Institutional Client Group (ICG), Asia, excluding Japan.
  • Pu joins as a senior member of the global Insurance Asset Management team responsible for leading MIMs efforts on insurance strategy portfolios and solutions globally.
  • He will report to Ruth Farrugia, global head of Insurance Asset Management and Matt Mosca, global head of ICG.
  • MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global public fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide.

Brighthouse Financial Announces $200 Million Stock Repurchase Program

Wednesday, February 10, 2021 - 9:15pm

Brighthouse Financial, Inc. (Brighthouse Financial or the company) (Nasdaq: BHF) announced today that it has authorized the repurchase of up to $200 million of its common stock.

Key Points: 
  • Brighthouse Financial, Inc. (Brighthouse Financial or the company) (Nasdaq: BHF) announced today that it has authorized the repurchase of up to $200 million of its common stock.
  • The stock repurchase program is in addition to the $500 million stock repurchase authorization announced by the company in February 2020, under which $53 million remains as of February 9, 2021.
  • We are pleased to announce our new repurchase program, which demonstrates our ongoing commitment to returning capital to our shareholders, our confidence in our financial strength and the progress we continue to make as we execute our strategy, said Eric Steigerwalt, president and CEO, Brighthouse Financial.
  • Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security.

MetLife Named to the Bloomberg Gender-Equality Index

Thursday, February 4, 2021 - 2:06am

MetLife, Inc. (NYSE: MET) has been named to the Bloomberg Gender-Equality Index for the sixth year in a row, in recognition of its efforts to support gender parity through employee policies, representation, and transparency.

Key Points: 
  • MetLife, Inc. (NYSE: MET) has been named to the Bloomberg Gender-Equality Index for the sixth year in a row, in recognition of its efforts to support gender parity through employee policies, representation, and transparency.
  • Bloomberg measures publicly traded companies across five dimensions: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand.
  • Gender equity is central to MetLifes purpose and serves as a driver of innovation, collaboration, and business results, said MetLife President and CEO Michel Khalaf.
  • More details on the Bloomberg Gender-Equality Index can be found here .

MetLife CFO John McCallion Provides Fourth Quarter and Full Year 2020 Financial Update Video

Wednesday, February 3, 2021 - 9:15pm

MetLife, Inc. (NYSE: MET) today announced that Executive Vice President and Chief Financial Officer John McCallion has provided a fourth quarter and full year 2020 financial update video.

Key Points: 
  • MetLife, Inc. (NYSE: MET) today announced that Executive Vice President and Chief Financial Officer John McCallion has provided a fourth quarter and full year 2020 financial update video.
  • Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.
  • Forward-looking statements give expectations or forecasts of future events and do not relate strictly to historical or current facts.
  • Many factors will determine the results of MetLife, Inc., its subsidiaries and affiliates, and they involve unpredictable risks and uncertainties.

Consolidated Marketing Services Acquires Award-Winning Promotional Merchandise Agency Progressive Promotions

Wednesday, February 3, 2021 - 2:00pm

Consolidated Marketing Services (CMS) is thrilled to announce the acquisition of award-winning promotional merchandise agency Progressive Promotions.

Key Points: 
  • Consolidated Marketing Services (CMS) is thrilled to announce the acquisition of award-winning promotional merchandise agency Progressive Promotions.
  • Progressive, which was founded in 1987 and which had its strongest year ever in 2020, will retain its Englewood, New Jersey office, personnel and contact information, and will henceforth be known as Progressive Promotions, powered by Consolidated Marketing Services.
  • Progressive Promotions and Consolidated Marketing Services combined client roster includes American Express, ADP, AvisBudget Group, Baxter, KraftHeinz, John Hancock, Levis, MetLife, MassMutual, PGA, PNC Bank, Teva Pharmaceuticals, Tommy Hilfiger/Calvin Klein, and dozens more.
  • Progressive Promotions is an award-winning global promotional merchandise agency that provides programs that generate strong, measurable results and support clients' brands and growth objectives via high touch customer service and e-commerce solutions.

MetLife Named to World’s Most Admired Companies List by Fortune Magazine

Wednesday, February 3, 2021 - 8:22am

MetLife, Inc. (NYSE: MET) has been named to Fortune magazines 2021 list of the Worlds Most Admired Companies.

Key Points: 
  • MetLife, Inc. (NYSE: MET) has been named to Fortune magazines 2021 list of the Worlds Most Admired Companies.
  • Eight life and health insurers were included on the annual snapshot of the best-regarded companies.
  • Fortune partners with Korn Ferry to survey industry executives, directors, and analysts across nine categories, from investment value and quality of management and products, to social responsibility and ability to attract talent.
  • MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the worlds leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world.

MetLife Named to World’s Most Admired Companies List by Fortune Magazine

Monday, February 1, 2021 - 2:32pm

MetLife, Inc. (NYSE: MET) today announced that it has been named to Fortune magazines 2021 list of the Worlds Most Admired Companies.

Key Points: 
  • MetLife, Inc. (NYSE: MET) today announced that it has been named to Fortune magazines 2021 list of the Worlds Most Admired Companies.
  • Eight life and health insurers were included on the annual snapshot of the best-regarded companies.
  • Fortune partners with Korn Ferry to survey industry executives, directors, and analysts across nine categories, from investment value and quality of management and products, to social responsibility and ability to attract talent.
  • MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the worlds leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world.