Changes
→Products and services
{{redirect|Metropolitan Life|the book by Fran Lebowitz|Metropolitan Life (book)}}
{{For|the ''League of Legends'' player formerly known as Matlife|Matt Elento}}
{{Infobox company
| name = MetLife, Inc.
| logo = MetLife logo.svg
| logo_size = 250px
| type = [[Public company|Public]]
| traded_as = {{unbulleted list|{{NYSE|MET}}|[[S&P 100|S&P 100 Component]]|[[S&P 500|S&P 500 Component]]}}
| foundation = {{start date and age|1868|3|24}}
| location = {{unbulleted list|[[MetLife Building]]|New York, New York, U.S.}}
| key_people = {{plainlist|
*[[Steven A. Kandarian]] {{small|([[President (corporate title)|President]], [[Chairman]], & [[Chief Executive Officer|CEO]])}}}}
| industry = [[Financial services]]
| products = [[Insurance]], [[Annuity (US financial products)|Annuities]], [[Employee Benefits]]
| revenue = {{increase}} [[US$]] 62.308 billion {{small|(2017)}}<ref name="10-K 2017">{{cite web|url=https://www.sec.gov/Archives/edgar/data/1099219/000093783418000005/met-20171231x10k.htm|title=US SEC: Form 10-K MetLife, Inc.|publisher=[[United States Securities and Exchange Commission]]|date=February 2018|website=sec.gov|deadurl=no|archiveurl=https://web.archive.org/web/20180403234928/https://www.sec.gov/Archives/edgar/data/1099219/000093783418000005/met-20171231x10k.htm|archivedate=2018-04-03|df=}}</ref>
| operating_income = {{decrease}} US$ 3.536 billion {{small|(2017)}}<ref name="10-K 2017"/>
| net_income = {{increase}} US$ 4.010 billion {{small|(2017)}}<ref name="10-K 2017"/>
| assets = {{decrease}} US$ 719.892 billion {{small|(2017)}}<ref name="10-K 2017"/>
| equity = {{decrease}} US$ 58.676 billion {{small|(2017)}}<ref name="10-K 2017"/>
| num_employees = 49,000 {{small|(2017)}}<ref name="10-K 2017"/>
| homepage = [https://www.metlife.com/ MetLife.com]
}}
'''MetLife, Inc.''' is the [[Holding company|holding corporation]] for the '''Metropolitan Life Insurance Company''' ('''MLIC'''),<ref>{{Cite news|url = https://www.highbeam.com/doc/1G1-429993776.html|title = MetLife Announces Third Quarter Non-Cash Charge|last = Staff|date = 2 October 2015|work = Insurance Weekly News|access-date = 20 December 2015|via = HighBeam Research|deadurl = no|archiveurl = https://web.archive.org/web/20160108112718/https://www.highbeam.com/doc/1G1-429993776.html|archivedate = 8 January 2016|df = }}</ref> better known as '''MetLife''', and its affiliates. MetLife is among the largest global providers of [[insurance]], [[Annuity (US financial products)|annuities]], and [[employee benefit]] programs, with 90 million customers in over 60 countries.<ref name="NintyMillion_10">{{cite news |title = MetLife Expands Beyond 'Slow Growth' U.S. Market |url = http://www.tulsaworld.com/business/metlife-expands-beyond-slow-growth-u-s-market/article_285c69f6-a4f7-5e5a-adfb-104656eda0eb.html |accessdate = 16 December 2015 |newspaper = Tulsa World |date = 11 March 2010 |last = Staff & Wire Reports }}</ref><ref name= BWIRE_09>{{cite press release |title= MetLife and Fidelity Introduce New Retirement Income Solution: A Variable Annuity Designed to Provide Lifetime Income for Those Nearing or in Retirement |publisher= Business Wire |date=16 November 2009 }}</ref> The firm was founded on March 24, 1868.<ref name=GBook_06>{{cite book |title=Envy of the world: a history of the U.S. economy & big business|last=Botti |first=Timothy |authorlink= |year=2006 |publisher=Algora Publishing |location=New York, NY |isbn=0-87586-431-7 |page= |pages=140 |url=}}</ref>
On January 6, 1915, MetLife completed the [[mutualization]] process, changing from a stock life insurance company owned by individuals to a mutual company operating without external shareholders and for the benefit of policyholders.<ref name=Mutualzation>{{cite web |url=http://www.metveterans.com/files/13338/Company%20Highlights.pdf |title=Company Highlights |accessdate=2 March 2011 |deadurl=no |archiveurl=https://web.archive.org/web/20120321191422/http://www.metveterans.com/files/13338/Company%20Highlights.pdf |archivedate=21 March 2012 |df= }}</ref> The company went public in 2000.<ref name=IPO_Deal>{{cite news |title= In Play |newspaper= Daily Deal|date=7 April 2000 |url= }}</ref> Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia’s Pacific region, Europe, and the Middle East.<ref name="AlicoInternational_10">{{cite journal|last = Lehmann|first = R.J.|title = MetLife Sees Alico Deals as Door to Growth in China, Middle East|journal = SNL Insurance M&A|date = 4 June 2010|url = http://insurancenewsnet.com/oarticle/2010/06/10/MetLife-Sees-Alico-Deal-As-Door-To-Growth-In-China-a-197039.html|via = insurancenewsnet|deadurl = no|archiveurl = https://web.archive.org/web/20151222102837/http://insurancenewsnet.com/oarticle/2010/06/10/MetLife-Sees-Alico-Deal-As-Door-To-Growth-In-China-a-197039.html|archivedate = 22 December 2015|df = }}{{Subscription required}}</ref> MetLife serves 90 of the largest [[Fortune 500]] companies.<ref name="Ninety">{{cite news|title = KASB FL, MetLife Alico Sign Investment Agreement|url = http://pakobserver.net/201012/31/detailnews.asp?id=69050|accessdate = 14 March 2011|newspaper = Pakistan Observer|date = 31 December 2010}}{{Dead link|date = December 2015}}</ref> The company’s principal offices are located at [[MetLife Building|200 Park Avenue, New York City]] in [[Midtown Manhattan]], [[New York City]], though it retains some executive offices and its boardroom in the [[MetLife Building]], located at 200 Park Avenue, New York City, which it sold in 2005.<ref name=NYT_05>{{cite news |title= MetLife Sells 2nd Building, A Landmark On Park Ave |author= Anthony Ramirez |newspaper= The New York Times |date= 2 April 2005 |url= https://query.nytimes.com/gst/fullpage.html?res=9901E5DA113FF931A35757C0A9639C8B63 |deadurl= no |archiveurl= https://web.archive.org/web/20150203031158/http://query.nytimes.com/gst/fullpage.html?res=9901E5DA113FF931A35757C0A9639C8B63 |archivedate= 3 February 2015 |df= }}</ref>
In January 2016, the company announced that it would spin off U.S. Retail business, including individual life insurance and annuities for the retail market, in a separate company called [[Brighthouse Financial]].<ref>{{cite web|url=https://www.metlife.com/brighthousefinancial/|title=Important Information About MetLife's U.S. Retail Business Separation|website=www.metlife.com|deadurl=no|archiveurl=https://web.archive.org/web/20170505084637/https://www.metlife.com/brighthousefinancial/|archivedate=2017-05-05|df=}}</ref> They will maintain the MetLife name on [[MetLife Stadium]].<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2016-07-21/metlife-rebrands-retail-unit-to-be-separated-as-brighthouse|title=MetLife Shelves 148-Year-Old U.S. Retail Brand for ‘Brighthouse’|date=21 July 2016|publisher=|via=www.bloomberg.com|deadurl=no|archiveurl=https://web.archive.org/web/20170202020040/https://www.bloomberg.com/news/articles/2016-07-21/metlife-rebrands-retail-unit-to-be-separated-as-brighthouse|archivedate=2 February 2017|df=}}</ref> On March 6, 2017, the separated U.S. Retail business launched Brighthouse Financial – an independent company focused on life insurance and annuities.
== Corporate structure ==
{{Update|section|date = December 2015}}
{{As of|2010}}, the company was "organized into five segments: Insurance Products, Retirement Products," the US Business (including Auto & Home and Corporate Benefit Funding), and International.<ref name="Disability10K" /> The Insurance Products division was the largest unit, accounting for 53% of 2009 revenue.<ref name="MexEng_103" /> By 2015, a division referred to as "Americas" had emerged.<ref name=":0" />
=== Corporate governance ===
{{Expand section|date = December 2015}}
As of 2011, MetLife's [[chief executive officer]] was Steve Kandarian.<ref name="Frye11" /> Kandarian also served as the company's [[Chairman|chairman of the board]] and [[President (corporate title)|president]] as of 2015.<ref name=":0" />
In 2015, MetLife hired Hugh Dineen to fill the new role of [[chief marketing officer]] within the US Business Unit.<ref>{{Cite journal|url = http://adage.com/article/cmo-strategy/metlife-hires-avon-s-hugh-dineen-lead-u-s-marketing/301657/|title = MetLife Hires Avon's Hugh Dineen to Lead U.S. Marketing|last = Stein|first = Lindsay|date = 8 December 2015|journal = [[Advert. Age|Advertising Age]]|doi = |pmid = |access-date = 16 December 2015|deadurl = no|archiveurl = http://archive.wikiwix.com/cache/20151218030059/http://adage.com/article/cmo-strategy/metlife-hires-avon-s-hugh-dineen-lead-u-s-marketing/301657/|archivedate = 18 December 2015|df = }}</ref>
As in many large, public corporations, MetLife has a [[compensation committee]] which establishes compensation levels for the company's senior executives; MetLife compensation emphasizes "variable performance-based compensation over fixed or guaranteed pay".<ref name=":0">{{Cite news|url = https://www.wsj.com/articles/metlife-ceo-kandarian-got-15-2-million-pay-package-for-2014-1425651258|title = MetLife CEO Got $15.2 Million Pay Package for 2014|last = Scism|first = Leslie|date = 6 March 2015|work = [[Wall Str. J.|The Wall Street Journal]]|access-date = 16 December 2015|deadurl = no|archiveurl = https://web.archive.org/web/20151222120904/http://www.wsj.com/articles/metlife-ceo-kandarian-got-15-2-million-pay-package-for-2014-1425651258|archivedate = 22 December 2015|df = }}</ref>
=== Subsidiary and affiliate companies ===
MetLife subsidiaries and affiliates have included MetLife Investors, MetLife Bank, MetLife Securities, Metropolitan Property and Casualty Insurance Company and its subsidiaries, General American, Hyatt Legal, MetLife Resources, New England Financial, Walnut Street Securities, Inc., Safeguard Health Enterprises, Inc., and Tower Square Securities, Inc., Cigna.<ref name="HyattLegal" /><ref name="MetLifeInvestorsTwo">{{cite news|title=MetLife Hires Bank Distributors|newspaper=American Banker|date=24 August 2007}}</ref><ref name="MetLifeBankHistory">{{cite news|last=Considine|first=Bob|title=MetLife Bank Enjoys 5 Years in Bridgewater: Banking on Success|newspaper=Courier News|date=20 September 2007}}</ref><ref name="Securities">{{cite web|title=MetLife Securities|url=https://msi.metlife.com/wps/portal/public/signin|publisher=MetLife|accessdate=20 November 2014}}</ref><ref name="Fortune">{{cite journal|last=Galentine|first=Elizabeth|title=Bread and Butter Products Help Vendors Outlast Recession|journal=Employee Benefit News Insurance|date=24 March 2010|url=http://ebn.benefitnews.com/news/bread-and-butter-products-help-vendors-outlast-recession-2683249-1.html|accessdate=15 March 2011|deadurl=yes|archiveurl=https://web.archive.org/web/20110725050839/http://ebn.benefitnews.com/news/bread-and-butter-products-help-vendors-outlast-recession-2683249-1.html|archivedate=25 July 2011|df=}}</ref><ref name="Conneticut">{{cite press release|title=MetLife Resources Introduces Enhanced 403(b) Product|url=http://www.insurancenewsnet.com/article.aspx?n=1&neID=20080731290.2_86eb01bcff7e6e39|publisher=Business Wire|date=31 July 2008|accessdate=10 September 2010|deadurl=yes|archiveurl=https://web.archive.org/web/20110719100122/http://www.insurancenewsnet.com/article.aspx?n=1&neID=20080731290.2_86eb01bcff7e6e39|archivedate=19 July 2011|df=}}</ref><ref name="GeneralAmerican">{{cite news|last=Lazarus|first=David|title=MetLife Spreads It Around|url=http://articles.sfgate.com/2004-02-27/business/17413765_1_privacy-policy-metlife-customer-information|accessdate=15 March 2011|newspaper=The San Francisco Chronicle|date=27 February 2004|deadurl=no|archiveurl=https://archive.is/20130208182748/http://articles.sfgate.com/2004-02-27/business/17413765_1_privacy-policy-metlife-customer-information|archivedate=8 February 2013|df=}}</ref><ref name="Safeguard">{{cite press release|title=MetLife Completes Acquisition of SafeGuard|url=http://www.businesswire.com/news/home/20080201005847/en/MetLife-Completes-Acquisition-SafeGuard|publisher=Business Wire|date=1 February 2008|accessdate=10 September 2010|deadurl=no|archiveurl=https://web.archive.org/web/20121002161023/http://www.businesswire.com/news/home/20080201005847/en/MetLife-Completes-Acquisition-SafeGuard|archivedate=2 October 2012|df=}}</ref><ref name="Three">{{cite news|last=Ackermann|first=Matt|title=MetLife Platform Extends Advice to the Mass Affluent|newspaper=American Banker|date=28 August 2009}}
</ref>
The subsidiary MetLife Insurance Company USA, as of 2015 headquartered in [[Charlotte, North Carolina]], was formerly known as MetLife Insurance Company of Connecticut, and prior to this as [[Travelers Insurance Company]].<ref>{{Cite news|url = https://www.highbeam.com/doc/1G1-435904678.html|title = Metlife Insurance Co USA Files SEC Form D, Notice of Exempt Offering of Securities (Nov. 17, 2015)|last = Staff|date = 4 December 2015|work = Insurance Weekly News|access-date = 20 December 2015|via = HighBeam Research|deadurl = no|archiveurl = https://web.archive.org/web/20160108112718/https://www.highbeam.com/doc/1G1-435904678.html|archivedate = 8 January 2016|df = }}</ref><ref>{{Cite web|title = SEC FORM D|url = https://www.sec.gov/Archives/edgar/data/733076/000093783415000070/xslFormDX01/primary_doc.xml|website = EDGAR|accessdate = 20 December 2015|publisher = US SEC|date = 17 November 2015|deadurl = no|archiveurl = https://web.archive.org/web/20151222114814/http://www.sec.gov/Archives/edgar/data/733076/000093783415000070/xslFormDX01/primary_doc.xml|archivedate = 22 December 2015|df = }}</ref>
MetLife Bank was sold to [[GE Capital]] in 2013, and MetLife exited the banking business.<ref>{{cite news
|url = http://articles.latimes.com/2013/jan/14/business/la-fi-mo-metlife-ge-capital-bank-deposits-20130114
|publisher = Los Angeles Times
|date = 2013-01-14
|title = MetLife gets out of banking business, sells deposits to GE Capital
|author = Puzzanghera. Jim
|deadurl = no
|archiveurl = http://archive.wikiwix.com/cache/20130914222619/http://articles.latimes.com/2013/jan/14/business/la-fi-mo-metlife-ge-capital-bank-deposits-20130114
|archivedate = 2013-09-14
|df =
}}</ref>
Metlife in partnership with [[Tishman Realty & Construction]] co-owns the [[Walt Disney World]] [[Walt Disney World Swan|Swan]] and [[Walt Disney World Dolphin|Dolphin]] resort in [[Lake Buena Vista, Florida]]. The land on which the hotels are located on is owned by [[The Walt Disney Company]] and is leased to Metlife and Tishman (which owns the buildings) and operated by [[Starwood|Starwood Hotels & Resorts]] as a [[Westin Hotels & Resorts|Westin]] hotel.<ref>{{cite web|url=http://www.swandolphinmedia.com/facts.html|title=Fast Facts - Walt Disney World Swan and Dolphin - Media Site|author=|date=|website=www.swandolphinmedia.com|deadurl=no|archiveurl=https://web.archive.org/web/20171024051920/http://swandolphinmedia.com/facts.html|archivedate=2017-10-24|df=}}</ref>
==History==
===Early years===
[[File:Tichnor Brothers New England Mutual Life front.jpg|left|thumb|Home office of the New England Mutual Life Insurance Co. one of the predecessor companies of MetLife. see <ref>{{cite web |url=http://libraries.mit.edu/archives/research/collections/collections-mc/pdf/mc616.pdf |title=Archived copy |accessdate=2012-07-22 |deadurl=no |archiveurl=https://web.archive.org/web/20120809011934/http://libraries.mit.edu/archives/research/collections/collections-mc/pdf/mc616.pdf |archivedate=2012-08-09 |df= }}</ref>]]
The predecessor company to MetLife began in 1863 when a group of [[New York City]] businessmen raised $100,000 to found the '''National Union Life and Limb Insurance Company'''. The company insured [[American Civil War|Civil War]] sailors and soldiers against disabilities due to wartime wounds, accidents, and sickness. On March 24, 1868, it became known as Metropolitan Life Insurance Company and shifted its focus to the life insurance business.<ref name=Book_06>{{cite book|last=Botti|first=Timothy|title=Envy of the world: a history of the U.S. economy & big business|year=2006|publisher=Algora Publishing|location=New York, NY|isbn=0-87586-431-7|pages=140}}</ref><ref name=Origin_10>{{cite journal|last=Umasanker|title=A Study on Life Insurance Awareness Among Private Employees|journal=Economic Challenger|date=April 2010}}</ref>
[[File:Metropolitan Life Insurance Company Tower at Night with Fog.jpg|thumb|The [[Metropolitan Life Insurance Company Tower|Metropolitan Life Insurance Company tower]], which previously served as company headquarters, was featured in its advertising for many years.]]
A severe business depression that began with the [[Panic of 1873]] forced the company to contract, until it reached its lowest point in the late 1870s. After observing the insurance industry in Great Britain in 1879, MetLife President Joseph F. Knapp brought “industrial” or “workingmen’s” insurance programs to the United States – insurance issued in small amounts on which premiums were collected weekly or monthly at the policyholder’s home. By 1880, sales had exceeded a quarter million of such policies, resulting in nearly $1 million in revenue from premiums. In 1909, MetLife had become the nation’s largest life insurer in the United States, as measured by life insurance in force (the total value of life insurance policies issued).<ref name=Book_06/><ref name=Networth_01>{{cite book|last=Mauriello|first=Carrie|title=Net Worth: Using the Internet for Personal Financial Planning|year=2001|publisher=Butterworth-Heinemann|location=Woburn, MA|isbn=1-884133-83-5|pages=215}}</ref>
In 1907, the [[Metropolitan Life Insurance Company Tower|Metropolitan Life Insurance Company tower]] was commissioned to serve as MetLife’s 23rd Street headquarters in Lower Manhattan. Completed two years later, the building was the world's tallest until 1913 and remained the company's headquarters until 2005. For many years, an illustration of the building (with light emanating from the tip of its spire and the slogan, "The Light That Never Fails") featured prominently in MetLife’s [[advertising]].<ref name=Building_05>{{cite book|last=Moudry|first=Robert|title=The American Skyscraper: Cultural Histories|year=2005|publisher=Cambridge University Press|location=New York, NY|isbn=0-521-62421-5|pages=125–127}}</ref> By 1930, MetLife insured every fifth man, woman, and child in the United States and [[Canada]].<ref name=History>{{cite web|title=History|url=http://www.metlife.com/about/corporate-profile/metlife-history/metlife-begins/index.html|accessdate=25 August 2010|deadurl=yes|archiveurl=https://web.archive.org/web/20100829120532/http://www.metlife.com/about/corporate-profile/metlife-history/metlife-begins/index.html|archivedate=29 August 2010|df=}}</ref> During the 1930s, it also began to diversify its portfolio by reducing the percentage of individual mortgages in favor of public utility bonds, investments in government securities, and loans for commercial real estate.<ref name=History/> The company financed the construction of the [[Empire State Building]] in 1929 as well as provided capital to build [[Rockefeller Center]] in 1931. During [[World War II]], MetLife placed more than 51 percent of its total assets in war bonds, and was the largest single private contributor to the [[Allies of World War II|Allied]] cause.<ref name=History/>
===Postwar ===
[[File:Leroy Lincoln Metropolitan Life.jpg|left|thumb|Company president Leroy Lincoln in 1947]]
[[File:Metlife 1970.png|thumb|180px|Metropolitan Life logo, ca. 1970.]]
During the postwar era, the company expanded its suburban presence, decentralized operations, and refocused its career agency system to serve all market segments. It also began to market group insurance products to employers and institutions. By 1979, operations were segmented into four primary businesses: group insurance, personal insurance, pensions, and investments.<ref name=History/> In 1981, MetLife purchased what became known as the MetLife building for $400 million from a group that included [[Pan American World Airways]].<ref name=PanAm_05>{{cite journal|title=Done deal: $1.7b sale of MetLife Building officially closed|journal=Real Estate Weekly|date=June 2005|volume=51|pages=10}}</ref><ref name=BuildingSales>{{cite web|title=MetLife Building|url=http://www.emporis.com/application/?nav=building&lng=3&id=metlifebuilding-newyorkcity-ny-usa|publisher=Emporis|accessdate=2 March 2011|deadurl=no|archiveurl=https://web.archive.org/web/20110629112617/http://www.emporis.com/application/?nav=building&lng=3&id=metlifebuilding-newyorkcity-ny-usa|archivedate=29 June 2011|df=}}</ref>
[[Image:Walter Gropius photo MetLife Building fassade New York USA 2005-10-03.jpg|thumb|The [[MetLife Building|MetLife building]] at 200 Park Ave in New York City. The building is no longer owned by MetLife]]
==== De-mutualization and IPO ====
In 2000, MetLife converted from a mutual insurance company operated for the benefit of its policyholders to a for-profit public company. The de-mutualization process allowed MetLife to enter unrelated insurance businesses and increase executive compensation.
Policyholders received some stock in the new company in this process.<ref>{{cite news
|url = http://old.post-gazette.com/businessnews/20000104met1.asp
|title = Decision time for MetLife policyholders
|date = 2000-01-04
|author = Boselovic, Len
|publisher = Pittsburgh Post-Gazette
|deadurl = no
|archiveurl = https://web.archive.org/web/20150503234417/http://old.post-gazette.com/businessnews/20000104met1.asp
|archivedate = 2015-05-03
|df =
}}</ref> MetLife was accused of breaching federal securities laws by misrepresenting and omitting information in materials given to policyholders during this process, resulting in years of litigation ending with a $50 million settlement in 2009.<ref>{{cite news
|url = http://www.law360.com/articles/134266/metlife-to-pay-50m-to-resolve-policyholder-suits
|title = MetLife to pay $50 million to resolve policyholder suits
|publisher = Law360
|author = Fuch, Eric
|date = 2009-11-13
|deadurl = no
|archiveurl = https://web.archive.org/web/20160201171444/http://www.law360.com/articles/134266/metlife-to-pay-50m-to-resolve-policyholder-suits
|archivedate = 2016-02-01
|df =
}}</ref>
{{clearleft}}
====Acquisitions, sales, and major deals====
* 1992 - merged with United Mutual Life Insurance Company, the only [[African-American]] life insurer in [[New York (state)|New York]], in 1992.<ref name=Scott93>{{cite news |title=United Mutual, MetLife Merge |author=Matthew Scott |url=http://www.highbeam.com/doc/1G1-13566538.html |work=Black Enterprise |date=1 February 1993 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-13566538.html |archivedate=9 September 2015 |df= }}</ref>
* 1992 - <ref name=Lublin09>{{cite news |title=AIG Chief: Loud Voice and a Listener's Ear |author=Joann S. Lublin |url=https://www.wsj.com/articles/SB124985951295318023 |work=The Wall Street Journal |date=10 August 2009 |accessdate=13 July 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150714142331/http://www.wsj.com/articles/SB124985951295318023 |archivedate=14 July 2015 |df= }}</ref> acquired [[Executive Life Insurance Company|Executive Life]]'s single premium deferred [[Annuity (US financial products)|annuity]] business, which was worth approximately $1.2 billion. MetLife also acquired the firm's life insurance business, valued at about $260 million.<ref name=Stouffer92>{{cite news |title=MetLife Gets OK To Acquire Executive Life's Businesses |author=Rick Stouffer |url=http://www.highbeam.com/doc/1P2-22445269.html |work=18 December 1992 |date= |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1P2-22445269.html |archivedate=9 September 2015 |df= }}</ref>
* 1995 - purchased New England Mutual Life Insurance Company.<ref>{{Cite news| issn = 0362-4331| last = Quint| first = Michael| title = New England And Met Life Agree to Merge Operations| work = The New York Times| accessdate = 2017-01-15| date = 1995-08-17| url = https://www.nytimes.com/1995/08/17/business/new-england-and-met-life-agree-to-merge-operations.html| deadurl = no| archiveurl = https://web.archive.org/web/20170116184705/http://www.nytimes.com/1995/08/17/business/new-england-and-met-life-agree-to-merge-operations.html| archivedate = 2017-01-16| df = }}</ref>
* 1997 - acquired Security First Group in 1997 for $377 million.<ref name=AP95>{{cite news |title=MetLife Merging with New England |author=Associated Press |url=http://www.highbeam.com/doc/1P2-22747336.html |work=The Buffalo News |date=16 August 1995 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1P2-22747336.html |archivedate=9 September 2015 |df= }}</ref><ref name=Garmhausen97>{{cite news |title=MetLife to Pay $377 Million for Bank Marketer Security First |author=Stephen Garmhausen |url=http://www.highbeam.com/doc/1G1-19674793.html |work=American Banker |date=15 August 1997 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-19674793.html |archivedate=9 September 2015 |df= }}</ref>
* 1999 - acquired [[Lincoln National Corporation]]'s individual disability income unit.<ref name=Frazier99>{{cite news |title=Metlife Assumes Lincoln National's Individual Disability Income Unit. |author=Lynne McKenna Frazier |url=http://www.highbeam.com/doc/1G1-54621984.html |work=Knight Ridder |date=12 May 1999 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-54621984.html |archivedate=9 September 2015 |df= }}</ref>
* 1999 - bought out reinsurance provider GenAmerica Corporation for $1.2 billion, as well as its subsidiaries, [[Reinsurance Group of America]] and [[Conning & Company|Conning Corporation]].<ref name=Gallagher02>{{cite news |title=GenAmerica Financial Chief Announces Resignation |author=Jim Gallagher |url=http://www.highbeam.com/doc/1G1-83064722.html |work=Knight Ridder |date=20 February 2002 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-83064722.html |archivedate=9 September 2015 |df= }}</ref><ref name=Moore99>{{cite news |title=In Brief: MetLife Buying GenAmerica Corp |author=Michael D. Moore |url=http://www.highbeam.com/doc/1G1-55584007.html |work=American Banker |date=27 August 1999 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-55584007.html |archivedate=9 September 2015 |df= }}</ref> That year, the company had grown to serve 7 million policyholders.<ref name=Quinn99>{{cite news |title=MetLife Suit could mislead holders again |author=Jane Bryant Quinn |url=http://www.highbeam.com/doc/1N1-108487BB6BF6B357.html |work=Indiana Post-Tribune |date=24 October 1999 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1N1-108487BB6BF6B357.html |archivedate=9 September 2015 |df= }}</ref>
* 2000 - de-mutualization and IPO.<ref name=Vowinkel98>{{cite news |title=MetLife Plans to Sell Stock; Insurer to Revert To Public Company |author=Patricia Vowinkel |url=http://www.highbeam.com/doc/1P2-695291.html |work=The Washington Post |date=30 November 1998 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1P2-695291.html |archivedate=9 September 2015 |df= }}</ref><ref name=Treaster00>{{cite news |title=MetLife Issues Nearly 500 Million Shares to Policyholders |author=Joseph Treaster |url=https://www.nytimes.com/2000/04/06/business/metlife-issues-nearly-500-million-shares-to-policyholders.html |work=6 April 2000 |date= |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150527132203/http://www.nytimes.com/2000/04/06/business/metlife-issues-nearly-500-million-shares-to-policyholders.html |archivedate=27 May 2015 |df= }}</ref> The [[initial public offering]] was valued at $6.5 billion, which was the largest IPO to that date in United States financial history.<ref name=Vowinkel98/><ref name=Treaster00/> MetLife policyholders were asked to choose a cash or stock stake. This IPO made MetLife the most widely owned stock in the United States, and it raised MetLife's value to over $4 billion.<ref name=Healy99>{{cite news |title=MetLife IPO plan outshines Hancock's |author=Beth Healy |url=http://www.highbeam.com/doc/1G1-57806512.html |work=The Boston Herald |date=25 November 1999 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-57806512.html |archivedate=9 September 2015 |df= }}</ref><ref name=Bridger99>{{cite news |title=MetLife's Policyholders to get cash or stock in public offering |author=Chet Bridger |url=http://www.highbeam.com/doc/1P2-23151221.html |work=The Buffalo News |date=10 December 1999 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1P2-23151221.html |archivedate=9 September 2015 |df= }}</ref> By 2000, MetLife's reported number of policyholders had risen to 11 million,<ref name=Bridger99/> and that year it had become the United States' number one life insurer, surpassing Prudential, according to ''[[The New York Times]]''.<ref name=Times00>{{cite news |title=MetLife Posts Gain in Quarterly Earnings |url=https://www.nytimes.com/2000/05/10/business/metlife-posts-gain-in-quarterly-earnings.html |work=The New York Times |date=10 May 2000 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150104105019/http://www.nytimes.com/2000/05/10/business/metlife-posts-gain-in-quarterly-earnings.html |archivedate=4 January 2015 |df= }}</ref>
* 2000 - $470 million voice and data network management deal with AT&T Solutions.<ref name=Pappalardo00>{{cite news |title=MetLife jumps on outsourcing bandwagon |author=Denis Pappalardo |url=http://www.highbeam.com/doc/1G1-68369325.html |work=Network World |date=18 December 2000 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-68369325.html |archivedate=9 September 2015 |df= }}</ref>
* 2001 - acquired Grand Bank of [[Kingston, New Jersey]], which was renamed MetLife Bank.<ref name=Gjertsen00>{{cite news |title=MetLife has big plans for one-branch bank |author=Lee Ann Gjersten |url=http://www.highbeam.com/doc/1G1-64334609.html |work=American Banker |date=17 August 2000 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-64334609.html |archivedate=9 September 2015 |df= }}</ref><ref name=Jill01>{{cite news |title=Banks and insurers slowly converge |author=Jill Elswick |url=http://www.highbeam.com/doc/1G1-73881294.html |work=Employee Benefit News |date=1 May 2001 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-73881294.html |archivedate=9 September 2015 |df= }}</ref>
* 2001 - invested $1 billion in the United States stock market during 2001, immediately after the [[September 11 attacks|September 11th terrorist attacks]].<ref name=MetLifeHistory>{{cite web |url=https://www.metlife.com/about/corporate-profile/metlife-history/supporting-country-and-community/index.html |title=MetLife History: Supporting Country and Community |date= |work= |publisher=MetLife |accessdate=13 July 2015 |deadurl=yes |archiveurl=https://web.archive.org/web/20150714150859/https://www.metlife.com/about/corporate-profile/metlife-history/supporting-country-and-community/index.html |archivedate=14 July 2015 |df= }}</ref>
* 2005 - acquired [[Citigroup]]’s Travelers Life & Annuity and all of Citigroup’s international insurance businesses for $11.8 billion.<ref name="Augusturms10">{{cite news|title = AIG Sells Alico Health Insurance Unit to MetLife for $15.5B|author = Augustums|url = http://www.huffingtonpost.com/2010/03/08/aig-alico-sale-profitabe-_n_489655.html|work = The Huffington Post: Business|date = 1 May 2010|accessdate = 25 February 2015|first = Ieva M.|deadurl = no|archiveurl = https://web.archive.org/web/20150714131231/http://www.huffingtonpost.com/2010/03/08/aig-alico-sale-profitabe-_n_489655.html|archivedate = 14 July 2015|df = }}</ref><ref name=Ramirez05>{{cite news |title=MetLife Sells 2nd Building, a Landmark on Park Ave. |author=Anthony Ramirez |url=https://query.nytimes.com/gst/fullpage.html?res=9901E5DA113FF931A35757C0A9639C8B63 |work=The New York Times |date=2 April 2005 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150203031158/http://query.nytimes.com/gst/fullpage.html?res=9901E5DA113FF931A35757C0A9639C8B63 |archivedate=3 February 2015 |df= }}</ref> At the time of the deal, which was completed on July 1, 2005, the Travelers acquisition made MetLife the largest individual life insurer in North America based on sales.<ref name=Travelers_05>{{cite news|last=Wenske|first=Paul|title=Midday Business Report: Survey says ID theft on rise|newspaper=The Kansas City Star|date=1 July 2005}}</ref>
* 2006 - opened joint-venture insurance company in [[Shanghai]], in May 2006.<ref name=Hongmei06>{{cite news |title=Have you met the new MetLife today? |author=Song Hongmei |url=http://www.chinadaily.com.cn/bizchina/2006-05/24/content_599481.htm |work=China Daily |date=24 May 2006 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150714132414/http://www.chinadaily.com.cn/bizchina/2006-05/24/content_599481.htm |archivedate=14 July 2015 |df= }}</ref><ref name=Chen07>{{cite news |title=U.S. MetLife says to partner Bank of Shanghai |author=George Chen |url=https://www.reuters.com/article/2007/04/10/idUSSHA29990420070410 |work=Reuters |date=10 April 2007 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150714120302/http://www.reuters.com/article/2007/04/10/idUSSHA29990420070410 |archivedate=14 July 2015 |df= }}</ref>
* 2006 - sold [[Stuyvesant Town–Peter Cooper Village|Peter Cooper Village, or Stuyvesant Town]], the largest apartment complexes in [[New York City]] at the time, for $5.4 billion.<ref name=Carmiel12>{{cite news |title=MetLife Says It Reached Accord With Stuyvesant Tenants |author=Oshrat Carmiel |url=https://www.bloomberg.com/news/articles/2012-03-02/metlife-says-it-reaches-accord-in-principle-with-stuyvesant-town-tenants |work=Bloomberg Business |date=2 March 2012 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150808215954/http://www.bloomberg.com/news/articles/2012-03-02/metlife-says-it-reaches-accord-in-principle-with-stuyvesant-town-tenants |archivedate=8 August 2015 |df= }}</ref><ref name=Bagli12>{{cite news |title=$68.7 Million Settlement on Stuyvesant Town Rents |author=Charles Bagli |url=https://www.nytimes.com/2012/11/30/nyregion/68-7-million-settlement-on-stuyvesant-town-rents.html?_r=0 |work=The New York Times |date=29 November 2012 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20121203055037/http://www.nytimes.com/2012/11/30/nyregion/68-7-million-settlement-on-stuyvesant-town-rents.html?_r=0 |archivedate=3 December 2012 |df= }}</ref> MetLife had developed the apartment complexes between 1945 and 1947, to house veterans returning home from serving in [[World War II]].<ref name=Henderson14>{{cite news |title=Mortgage Observer: Old New York: Stuyvesant Town-Peter Cooper Village |author=Jennifer Henderson |url=http://commercialobserver.com/2014/09/old-new-york-stuyvesant-town-peter-cooper-village/ |work=Commercial Observer |date=15 September 2014 |accessdate=26 February 2015 |deadurl=no |archiveurl=http://archive.wikiwix.com/cache/20150226133715/http://commercialobserver.com/2014/09/old-new-york-stuyvesant-town-peter-cooper-village/ |archivedate=26 February 2015 |df= }}</ref>
* 2010 - bought [[American Life Insurance Company]] from [[American International Group|AIG]] for {{Currency|15.5 billion}}.<ref name=Augusturms10/>
* 2011 - sold MetLife bank to [[GE Capital]], exiting banking business.<ref>{{cite news
|publisher = Forbes
|url = https://www.forbes.com/sites/steveschaefer/2011/12/27/metlife-ditches-bank-business-sells-7-5b-in-deposits-to-ge-capital/
|author = Schaefer, Steve
|date = 2011-12-27
|title = Metlife ditches bank business, sells $7.5B in deposits to GE Capital
|deadurl = no
|archiveurl = https://web.archive.org/web/20180206002840/https://www.forbes.com/sites/steveschaefer/2011/12/27/metlife-ditches-bank-business-sells-7-5b-in-deposits-to-ge-capital/
|archivedate = 2018-02-06
|df =
}}</ref>
===Current era===
From 2004 to 2011, MetLife continued to hold its position as the largest life insurer in the United States.<ref name="Frye11" /><ref name=Lazarus04>{{cite news |title=MetLife spreads it around |author=David Lazarus |url=http://www.sfgate.com/business/article/MetLife-spreads-it-around-2789970.php |work=San Francisco Gate |date=27 February 2004 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20141206084730/http://www.sfgate.com/business/article/MetLife-spreads-it-around-2789970.php |archivedate=6 December 2014 |df= }}</ref> The company had $2.5 trillion in policies written, $350 billion in assets under management, over 12 million customers in the United States, 8 million customers outside the United States, and a net income in 2003 of $2.2 billion.<ref name=Lazarus04/> That year, ''[[Barron's (newspaper)|Barron's]]'' reported that 13 million American households owned at least one product from MetLife.<ref name=Lazo04>{{cite news |title=MetLife Double-Play |author=Shirley A. Lazo |url=http://online.barrons.com/articles/SB109667490187534255?tesla=y |work=Barron's |date=4 October 2004 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150714124444/http://online.barrons.com/articles/SB109667490187534255?tesla=y |archivedate=14 July 2015 |df= }}</ref>
MetLife named [[Bob Benmosche|Robert H. Benmosche]] as chairman and CEO in July 1999. Benmosche occupied the position until 2006, when he was replaced by [[C. Robert Henrikson]].<ref name="Frye11">{{cite news |title=MetLife Promotes Investment Manager Kandarian to Chief Executive |author=Andrew Frye |url=https://www.bloomberg.com/news/articles/2011-03-21/metlife-board-names-kandarian-to-replace-henrikson-at-helm-of-u-s-insurer |work=Bloomberg Business |date=21 March 2011 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150808220004/http://www.bloomberg.com/news/articles/2011-03-21/metlife-board-names-kandarian-to-replace-henrikson-at-helm-of-u-s-insurer |archivedate=8 August 2015 |df= }}</ref><ref name=Hovenisian05>{{cite news |title=Travelers May Be Heavy Baggage |author=Mara Der Hovenisian |url=https://www.bloomberg.com/bw/stories/2005-06-05/travelers-may-be-heavy-baggage |work=BloombergBusiness |date=5 June 2005 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150808215933/http://www.bloomberg.com/bw/stories/2005-06-05/travelers-may-be-heavy-baggage |archivedate=8 August 2015 |df= }}</ref><ref name="IJ05">{{cite news|title = Henrikson to Succeed Benmosche as MetLife CEO|url = http://www.insurancejournal.com/news/national/2005/04/28/54343.htm|work = Insurance Journal|date = 28 April 2005|accessdate = 25 February 2015|publisher = Wells Media Group|volume = 93|issue = 23|edition = West|issn = 0020-4714|deadurl = no|archiveurl = https://web.archive.org/web/20150714124621/http://www.insurancejournal.com/news/national/2005/04/28/54343.htm|archivedate = 14 July 2015|df = }}</ref>
The company's sales grew 11.5% between 2008 and 2009, despite the [[Great Recession in the United States|national recession]].<ref name=Galentine10>{{cite news |title='Bread and butter products' help vendors outlast recession |author=Elizabeth Galentine |url=http://www.highbeam.com/doc/1G1-222703115.html |work=Employee Benefit News |date=24 March 2010 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-222703115.html |archivedate=9 September 2015 |df= }}</ref> In 2011, CEO [[C. Robert Henrikson|Robert Henrikson]] was replaced by [[Steven A. Kandarian]], who had overseen the company's "{{Currency|450 billion}} investment portfolio" as [[chief investment officer]].<ref name="Frye11"/> Henrikson remained the company's chairman to the end of 2011, at which point he reached the company's [[mandatory retirement age]].<ref name="Frye11"/>
In 2015, MetLife was ranked as number one on ''Fortune'' magazine's list of World's Most Admired Companies in the Insurance: Life and Health category.<ref name=Fortunelist>{{cite web |url=http://fortune.com/worlds-most-admired-companies/metlife-100000/ |title=World's Most Admired Companies |date=2015 |work= |publisher=Fortune Magazine |accessdate=24 March 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150302054431/http://fortune.com/worlds-most-admired-companies/metlife-100000/ |archivedate=2 March 2015 |df= }}</ref>
In the summer of 2017, MetLife plans to add a third office building of 255,000 square feet at its [[Cary, North Carolina]] Global Technology Campus, giving the company a total of 655,000 square feet at a location which has over 1,000 employees in such areas as engineering, software and technology. This plan was the result of North Carolina awarding the company $94 million in incentives in 2013 for creating over 2,600 jobs, half in Cary and half in [[Charlotte]].<ref>{{cite news|url=http://www.newsobserver.com/news/business/article151939037.html#storylink=cpy|title=MetLife to build third tower in Cary, add to 1,000-plus workforce|last=Murawski|first=John|work=News & Observer]]|date=22 May 2017|accessdate=22 May 2017}}</ref>
==="Too big to fail"===
In 2012, MetLife failed the Federal Reserve’s (the Fed's) [[Comprehensive Capital Analysis and Review]] stress test, intended to predict the potential failure of the company in a recession. The Fed stated that the minimum total [[Capital adequacy ratio|risk-based capital ratio]] should be 8% and it estimated MetLife's ratio at 6%. The company had requested approval for a {{Currency|2 billion}} [[share repurchase]] to prop up the stock price, along with an increased dividend.<ref>{{cite news
|url = https://www.forbes.com/sites/greatspeculations/2012/03/14/metlife-fumes-as-it-fails-fed-stress-test/
|title = MetLife fumes as it fails Fed stress test
|publisher = Forbes
|date = 2012-03-14
|deadurl = no
|archiveurl = https://web.archive.org/web/20180206004456/https://www.forbes.com/sites/greatspeculations/2012/03/14/metlife-fumes-as-it-fails-fed-stress-test/
|archivedate = 2018-02-06
|df =
}}</ref> Because MetLife owned MetLife Bank, it was subject to stricter financial regulation. To escape that level of regulation, MetLife announced the sale of its banking unit to [[GE Capital]].<ref>{{cite web|url=http://www.insurancejournal.com/news/national/2011/12/27/228789.htm|title=MetLife to Sell Bank Unit to GE Capital|date=27 December 2011|publisher=|accessdate=17 June 2015|deadurl=no|archiveurl=https://web.archive.org/web/20150924042700/http://www.insurancejournal.com/news/national/2011/12/27/228789.htm|archivedate=24 September 2015|df=}}</ref><ref>{{cite news | url=http://articles.latimes.com/2013/jan/14/business/la-fi-mo-metlife-ge-capital-bank-deposits-20130114 | work=Los Angeles Times | first=Jim | last=Puzzanghera | title=MetLife gets out of banking business, sells deposits to GE Capital | date=14 January 2013 | deadurl=no | archiveurl=http://archive.wikiwix.com/cache/20130914222619/http://articles.latimes.com/2013/jan/14/business/la-fi-mo-metlife-ge-capital-bank-deposits-20130114 | archivedate=14 September 2013 | df= }}</ref> On November 2, 2012, MetLife said it was selling its {{Currency|70 billion}} [[mortgage]] servicing business to [[JPMorgan Chase]] for an undisclosed amount.<ref>{{cite news|url=http://www.cbsnews.com/8301-505123_162-57544635/metlife-bank-to-sell-$70b-mortgage-servicing-portfolio-to-jpmorgan-chase/|title=MetLife Bank to sell $70B mortgage servicing portfolio to JPMorgan Chase|work=CBS/AP|deadurl=no|archiveurl=https://web.archive.org/web/20121105102919/http://www.cbsnews.com/8301-505123_162-57544635/metlife-bank-to-sell-$70b-mortgage-servicing-portfolio-to-jpmorgan-chase/|archivedate=2012-11-05|df=}}</ref> Both sales were part of its strategy to focus on the [[insurance]] side of its business.
The attempt to escape "[[too big to fail]]" regulation was not successful. In September 2014, the United States government observed the [[Dodd–Frank Wall Street Reform and Consumer Protection Act|2010 Dodd-Frank financial reform law]] by proposing the application of an official label to MetLife as "[[Systemically important financial institution|systemically important]]" to the American economy.<ref name=Garcia15>{{cite news |title=MetLife faces challenge to overturn ‘systemically important’ designation |author=Eric Garcia |url=http://www.marketwatch.com/story/metlife-faces-challenge-to-overturn-systemically-important-designation-2015-01-13 |work=Market Watch |date=13 January 2015 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150214043004/http://www.marketwatch.com/story/metlife-faces-challenge-to-overturn-systemically-important-designation-2015-01-13 |archivedate=14 February 2015 |df= }}</ref> If implemented, MetLife would be subject to different sets of rules and regulations, with increased oversight from the [[Federal Reserve System|Federal Reserve]].<ref name=Garcia15/><ref name=Dealbook14>{{cite news |title=MetLife Formally Challenges ‘Systemically Important’ Designation |author=Andrew Ross Sorkin |url=https://dealbook.nytimes.com/2014/10/03/metlife-formally-challenges-designation-as-systemically-important/ |work=The New York Times: DealBook |date=3 October 2014 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20141029021955/http://dealbook.nytimes.com/2014/10/03/metlife-formally-challenges-designation-as-systemically-important/ |archivedate=29 October 2014 |df= }}</ref> The company appealed this proposal in November 2014.<ref name=McGrane15>{{cite news |title=MetLife Suit Sets up Battle Over Regulation |author=Victoria McGrane |url=https://www.wsj.com/articles/metlife-to-challenge-systemically-important-tag-1421152441 |work=The Wall Street Journal |date=14 January 2015 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150225060111/http://www.wsj.com/articles/metlife-to-challenge-systemically-important-tag-1421152441 |archivedate=25 February 2015 |df= }}</ref> In December 2014, federal regulators decided that MetLife required the special regulations reserved for financial companies and organizations deemed "systemically important," or "too big to fail".<ref name=Steve14>{{cite news |title=MetLife Plans to Fight 'Systemically Important' Designation |author=Steve Schaefer |url=https://www.forbes.com/sites/steveschaefer/2014/09/04/metlife-tagged-with-systemically-important-designation/ |work=Forbes |date=4 September 2014 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150601034409/http://www.forbes.com/sites/steveschaefer/2014/09/04/metlife-tagged-with-systemically-important-designation/ |archivedate=1 June 2015 |df= }}</ref> MetLife announced in January 2015 that it would file a lawsuit against the [[District of Columbia]] to overturn the federal regulators' decision,<ref name=Garcia15/> thus becoming the first nonbank to challenge such a decision.<ref name=":1" /> Three other nonbank companies have been designated as "systemically important": [[American International Group|AIG]], [[General Electric]] and [[Prudential Financial|Prudential]].<ref name="Steve14" /><ref name=":1" /> MetLife continued to litigate this issue as of mid-2015, with the [[United States Department of Justice|US Department of Justice]] asking that their challenge be dismissed.<ref name=":1">{{cite news|url = https://www.bloomberg.com/news/articles/2015-05-08/u-s-asks-judge-to-throw-out-metlife-s-too-big-to-fail-lawsuit|date = 8 May 2015|title = US asks judge to throw out MetLife's "too big to fail" lawsuit|last = Zajac|first = Andrew|last2 = Katz|first2 = Ian|agency = Bloomberg Business News|deadurl = no|archiveurl = https://web.archive.org/web/20160729172324/http://www.bloomberg.com/news/articles/2015-05-08/u-s-asks-judge-to-throw-out-metlife-s-too-big-to-fail-lawsuit|archivedate = 29 July 2016|df = }}</ref>
===Fines===
On August 7, 2012, it was announced that MetLife will pay $3.2 million in fines after the [[Federal Reserve]] charged it used unsafe and unsound practices in handling its mortgage servicing and foreclosure operations.<ref>{{cite web|last=Schroeder|first=Peter|title=MetLife fined $3.2 million for mortgage servicing problems|url=http://thehill.com/blogs/on-the-money/banking-financial-institutions/242495-metlife-fined-32-million-for-mortgage-servicing-problems|publisher=The Hill|accessdate=7 August 2012|deadurl=yes|archiveurl=https://web.archive.org/web/20120815065752/http://thehill.com/blogs/on-the-money/banking-financial-institutions/242495-metlife-fined-32-million-for-mortgage-servicing-problems|archivedate=15 August 2012|df=}}</ref>
In 2014, MetLife paid $23 million to settle multiple lawsuits over [[junk fax]] operations used to generate leads for life insurance sales.<ref>{{cite news
|url = https://www.wsj.com/articles/metlife-to-pay-23-million-to-settle-blast-faxing-litigation-1407432583
|date = 2014-08-07
|author = Scism, Leslie
|title = MetLife Settles After Fax Meets Friction
|publisher = Wall Street Journal
|deadurl = no
|archiveurl = https://web.archive.org/web/20170623155546/https://www.wsj.com/articles/metlife-to-pay-23-million-to-settle-blast-faxing-litigation-1407432583
|archivedate = 2017-06-23
|df =
}}</ref>
{{quote box | source=''U.S. Attorney John Walsh'' | quote="MetLife Bank took advantage of the FHA insurance program by knowingly turning a blind eye to mortgage loans that did not meet basic underwriting requirements, and stuck the FHA and taxpayers with the bill when those mortgages defaulted." }}
In 2015, MetLife Home Loans LLC paid $123.5 million to the United States Department of Justice to resolve allegations it knowingly made mortgages insured by the United States government that didn’t meet federal underwriting requirements.<ref>{{cite news |url=https://www.wsj.com/articles/metlife-unit-to-pay-123-5-million-to-resolve-mortgage-lending-allegations-1424897993 |publisher=Wall Street Journal |title=MetLife Unit to Pay $123.5 Million to Resolve Mortgage-Lending Allegations |author1=Scism, Leslie |author2=Light, Joe |date=2015-02-25 |deadurl=no |archiveurl=https://web.archive.org/web/20180206073537/https://www.wsj.com/articles/metlife-unit-to-pay-123-5-million-to-resolve-mortgage-lending-allegations-1424897993 |archivedate=2018-02-06 |df= }}</ref>
== Finances ==
For the fiscal year 2017, MetLife reported earnings of US$3.907 billion, with an annual revenue of US$62.308 billion, an increase of 2.5% over the previous fiscal cycle. MetLife's shares traded at over $47 per share, and its market capitalization was valued at over US$39.4 billion in October 2018.<ref>{{Cite web|url=https://www.macrotrends.net/stocks/charts/MET/metlife/revenue|title=MetLife Revenue 2006-2018 {{!}} MET|website=www.macrotrends.net|access-date=2018-10-31}}</ref>
{| class="wikitable float-left" style="text-align: right;"
!Year
!Total Assets<br />in mil. USD$
!Revenue<br />in mil. USD$
!Net income<br />in mil. USD$
!Price per Share<br />in USD$
!Employees
|-
|2005
|481,645
|44,629
|4,651
|29.66
|
|-
|2006
|527,715
|42,929
|6,159
|35.34
|
|-
|2007
|559,149
|47,152
|4,180
|43.44
|
|-
|2008
|501,678
|50,982
|3,084
|34.37
|
|-
|2009
|539,314
|40,657
| −2,368
|21.81
|
|-
|2010
|730,906
|52,247
| 2,545
|28.61
|
|-
|2011
|796,226
|70,241
|6,155
|28.20
|
|-
|2012
|836,781
|68,150
|1,202
|25.21
|
|-
|2013
|885,296
|68,199
|3,246
|33.88
|65,000
|-
|2014
|902,337
|73,316
|6,187
|41.44
|68,000
|-
|2015
|877,933
|61,343
| 5,215
|41.25
|69,000
|-
|2016
|898,764
|60,787
|747
|37.28
|58,000
|-
|2017
|719,892
|62,308
|3,907
|47.03
|49,000
|}
== Products and services==
{{advert|date=September 2013}}
[[File:Metro Life Hall Recs Palmer Av jeh.JPG|thumb|MetLife Hall of Records, Yonkers, New York.]]
{{As of|2010}}, MetLife had a "diverse product mix" which included insurance ([[Home insurance|home]], [[Car insurance|car]] and [[Life insurance|life]]), [[Variable annuity|variable life annuities]] and [[Structured Settlements|structured settlements]], [[commercial mortgages]] and [[Commercial mortgage-backed security|securities backed by commercial mortgages]], and [[sovereign debt]].<ref name="MexEng_103">{{cite journal|last = Williams|first = Christopher|title = MetLife Gains Altitude|journal = Barron's|date = 19 June 2010|url = http://online.barrons.com/article/SB50001424052970203296004575307113048786930.html|accessdate = 14 March 2011|deadurl = no|archiveurl = https://web.archive.org/web/20101220062854/http://online.barrons.com/article/SB50001424052970203296004575307113048786930.html|archivedate = 20 December 2010|df = }}</ref>
===Life insurance===
MetLife’s individual [[life insurance]] products and services comprise [[term life insurance]] and several types of [[permanent life insurance]], including whole life, universal life, and final expense whole life insurance.<ref>{{cite web|title=Whole Life Insurance|url=https://www.metlife.com/individual/insurance/life-insurance/whole-life-insurance.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141213013828/https://www.metlife.com/individual/insurance/life-insurance/whole-life-insurance.html|archivedate=13 December 2014|df=}}</ref><ref>{{cite web|title=Term Life Insurance|url=https://www.metlife.com/individual/insurance/life-insurance/term-life-insurance.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105015221/https://www.metlife.com/individual/insurance/life-insurance/term-life-insurance.html|archivedate=5 November 2014|df=}}</ref> These services vary in regards to the duration and amount of coverage available and whether a medical exam is required for coverage. The company also offers group life insurance, provided through employers, which consists of term life, permanent life, and accidental death and dismemberment coverage.<ref name=InsuranceProducts>{{cite web|title=Insurance|url=https://www.metlife.com/individual/insurance/life-insurance/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141110045752/https://www.metlife.com/individual/insurance/life-insurance/index.html|archivedate=10 November 2014|df=}}</ref><ref name=GroupInsuranceProducts>{{cite web|title=Group Life Insurance|url=https://www.metlife.com/individual/employee-benefits/group-life-insurance/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141129033338/https://www.metlife.com/individual/employee-benefits/group-life-insurance/index.html|archivedate=29 November 2014|df=}}</ref> MetLife is the largest life insurer in the United States, based on life insurance in-force.<ref name="Ninety"/><ref name=MexEng_103/>
===Dental===
MetLife offers group dental benefit plans for individuals, employees, retirees and their families and provides dental plan administration for over 20 million people.<ref name=TwentyMillionDental>{{cite journal|title=MetLife Announces the New MET Series for its Dental Health Maintenance Organization DHMO Plans|journal=Health & Medicine Week|date=October 2010|pages=1192}}</ref><ref name=DentalCoverage>{{cite web|title=Employee Benefits|url=http://www.metlife.com/individual/employee-benefits/index.html?WT.ac=GN_individual_employee-benefits|publisher=MetLife|accessdate=14 March 2011|deadurl=no|archiveurl=https://web.archive.org/web/20110317065811/http://www.metlife.com/individual/employee-benefits/index.html?WT.ac=GN_individual_employee-benefits|archivedate=17 March 2011|df=}}</ref> Plans include MetLife’s Preferred Dentist Program (PPO) and the SafeGuard DHMO (available for both individuals and employees in CA, FL, TX, NJ and NY.). As of May 2010, MetLife’s dental [[Preferred provider organization|PPO]] network included over 135,000 participating dentist locations nationwide while the dental [[HMO]] network included more than 13,000 participating dentist locations in [[California]], [[Florida]] and [[Texas]].<ref name=Dental>{{cite journal|title=Be Better Informed Than the Tooth Fairy|journal=California Broker|date=July 2010|url=http://www.calbrokermag.com/surveys/dental-survey/|accessdate=14 March 2011|deadurl=yes|archiveurl=https://web.archive.org/web/20101224201618/http://www.calbrokermag.com/surveys/dental-survey/|archivedate=24 December 2010|df=}}</ref> MetLife also administers dental continuing education program for dentists and allied health care professionals, which are recognized by the [[American Dental Association]] (ADA) and the [[Academy of General Dentistry]] (AGD).<ref name=ADA>{{cite journal|title=MetLife Adds 5 Quality Resource Guides to Dental Continuing Education Program|journal=Health & Beauty Close-Up|date=September 2010}}</ref>
===Disability===
MetLife provides disability products for individuals as well as employee and association groups who receive them through their employer.<ref name=Disability10K>{{cite web|title=MetLife, Inc. Form 10-K for Fiscal Year Ended December 31, 2010|url=https://www.sec.gov/Archives/edgar/data/1099219/000095012311018077/y87657e10vk.htm|work=The United States Securities Exchange Commission|accessdate=3 March 2011|pages=6|deadurl=no|archiveurl=https://web.archive.org/web/20110629091230/http://www.sec.gov/Archives/edgar/data/1099219/000095012311018077/y87657e10vk.htm|archivedate=29 June 2011|df=}}</ref><ref>{{cite web|title=Disability Insurance|url=https://www.metlife.com/individual/insurance/disability-insurance/index.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141226092514/https://www.metlife.com/individual/insurance/disability-insurance/index.html|archivedate=26 December 2014|df=}}</ref> For individuals, the company’s individual disability income insurance can replace a portion of lost income if an individual is unable to work due to sickness or injury.<ref name=DisabilityInsurance>{{cite news|title=Protect Your Income With Disability Insurance|newspaper=Michigan Chronicle|date=1 March 2005}}</ref> MetLife offers several individual disability income policies, including MetLife Income Guard, OMNI Advantage, OMNI Essential, Business Overhead Expense, and Buy-Sell.<ref>{{cite web|title=Disability Insurance|url=https://www.metlife.com/individual/insurance/disability-insurance/individual-disability-insurance.html|website=MetLife|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141129033344/https://www.metlife.com/individual/insurance/disability-insurance/individual-disability-insurance.html|archivedate=29 November 2014|df=}}</ref> The policy options provided by the company vary in terms of eligibility and the provided coverage. For groups, MetLife offers short term [[disability insurance]] and long term disability insurance.<ref>{{cite web|title=Group Disability Insurance|url=https://www.metlife.com/individual/employee-benefits/group-disability/index.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141129033336/https://www.metlife.com/individual/employee-benefits/group-disability/index.html|archivedate=29 November 2014|df=}}</ref> Short term disability insurance is structured to replace a portion of an individual’s income during the initial weeks of a disabling illness or accident.<ref>{{cite web|title=Short Term Disability Insurance|url=https://www.metlife.com/individual/employee-benefits/group-disability/group-short-term-disability.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141203154445/https://www.metlife.com/individual/employee-benefits/group-disability/group-short-term-disability.html|archivedate=3 December 2014|df=}}</ref> Long term disability Insurance serves to replace a portion of an individual’s income during an extended period of a disabling [[illness]] or [[accident]].<ref name=DisabilityInsuranceProducts>{{cite web|title=Group Disability Insurance|url=https://www.metlife.com/individual/employee-benefits/group-disability/index.html|publisher=MetLife|accessdate=14 March 2011|deadurl=no|archiveurl=https://web.archive.org/web/20110306045218/http://www.metlife.com/individual/employee-benefits/group-disability/index.html|archivedate=6 March 2011|df=}}</ref><ref>{{cite web|title=Long Term Disability Insurance|url=https://www.metlife.com/individual/employee-benefits/group-disability/group-long-term-disability-insurance.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141213012555/https://www.metlife.com/individual/employee-benefits/group-disability/group-long-term-disability-insurance.html|archivedate=13 December 2014|df=}}</ref> The company also maintains an absence management product which allows employers to track and manage both planned and unplanned employee absences. The product, which MetLife calls MetLife Total Absence Management, is structured for businesses with 1,000 or more employees.<ref name= TotalAbsence>{{cite press release |title=MetLife Launches Enhanced Absence Management Solution|publisher=Datamonitor NewsWire|date=30 January 2009}}</ref>
===Annuities===
MetLife is among the largest providers of [[Annuity (US financial products)|annuities]] in the world, recording $22.4 billion in sales during 2009.<ref name=Numberoneann>{{cite news|title=At The Bell|newspaper=Investment News|date=1 March 2010}}</ref> MetLife offers annuities which consist of fixed annuities, variable annuities, deferred annuities and immediate annuities.<ref name=AnnuitiesProducts>{{cite web|title=Annuities|url=https://www.metlife.com/individual/investment-products/annuities/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105014340/https://www.metlife.com/individual/investment-products/annuities/index.html|archivedate=5 November 2014|df=}}</ref> In 1921, MetLife was the first company to issue a group annuity contract.<ref name=FirstAnnuity>{{cite press release|title=What a Difference a Year Makes: Market Volatility Leads to Broadened View of U.S. Pension Risks, According to MetLife Study|publisher=Business Wire|date=23 February 2010}}</ref> More recently in 2004, it was the first insurer to introduce a longevity insurance product.<ref name=LongevityInsurance>{{cite journal|last=Adler|first=David|title=Fixing up SPEND DOWN: New plans and products are improving spend-down options for retirees|journal=Employee Benefit News|date=September 2006}}</ref> As of December 31, 2009, MetLife globally managed group annuity assets of $60 billion with $34 billion of transferred pension liabilities and provided benefit payments to over 600,000 annuitants per month.<ref name=AnnuityInformation>{{cite web|title=Investments and Annuities|url=https://www.metlife.com/individual/investment-products/annuities/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105014340/https://www.metlife.com/individual/investment-products/annuities/index.html|archivedate=5 November 2014|df=}}</ref>
===Auto & Home ===
MetLife Auto & Home is the brand name for MetLife’s nine affiliate personal lines insurance companies.<ref name=AutoHomeBrand>{{cite journal|last=Whitney|first=Sally|title=High-speed Merge|journal=Best's Review (Prop/Casualty)|date=October 1999|volume=100|pages=30–37}}</ref> Collectively these companies offer personal lines property and casualty insurance policies in all 50 states and the District of Columbia.<ref name= PRN_05>{{cite press release|title=FileNet Announces 2005 Innovation Award Finalists|publisher=PR Newsire|date=3 November 2005}}</ref> The flagship company in the MetLife Auto & Home group, Metropolitan Property and Casualty Insurance Company, was founded in 1972.<ref name= AutoHomeBrand/> MetLife Auto & Home companies presently have over 2.7 million active policies and service 58 of the Fortune 100 companies.<ref name=Teens_10>{{cite journal|title=Life Insurance; Tips for Staying Cool When Your Teen Starts Asking to Drive|journal=Insurance Business Weekly|date=July 2010|pages=40}}</ref><ref name=FortuneEBN>{{cite journal|last=Galentine|first=Elizabeth|title=Bread and Butter Products Help Vendors Outlast Recession|journal=Employee Benefit News Insurance|date=March 2010}}</ref>
MetLife's home insurance solutions include homeowners insurance, condo insurance, [[renters' insurance|renters insurance]], insurance for landlords, and mobile home insurance.<ref>{{cite web|title=Home Insurance|url=https://www.metlife.com/individual/insurance/home-insurance/index.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105015257/https://www.metlife.com/individual/insurance/home-insurance/index.html|archivedate=5 November 2014|df=}}</ref><ref>{{cite web|title=Renters Insurance|url=https://www.metlife.com/individual/insurance/home-insurance/renters-insurance.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141204043414/https://www.metlife.com/individual/insurance/home-insurance/renters-insurance.html|archivedate=4 December 2014|df=}}</ref> The available policies for MetLife's home insurance provide coverage for possessions, property damage from natural disaster or theft, and various legal expenses incurred resulting from injuries sustained on an individual's property.<ref>{{cite web|title=Homeowners Insurance|url=https://www.metlife.com/individual/insurance/home-insurance/homeowners-insurance.html|website=MetLife|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141129033349/https://www.metlife.com/individual/insurance/home-insurance/homeowners-insurance.html|archivedate=29 November 2014|df=}}</ref> The companies also sell RV, ATV, boat, mobile home, collectible vehicle, and motorcycle policies<ref>{{cite web|title=MetLife Insurance Coverage|url=https://www.metlife.com/individual/insurance/auto-insurance/quote.html|website=MetLife|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141129033506/https://www.metlife.com/individual/insurance/auto-insurance/quote.html|archivedate=29 November 2014|df=}}</ref> and offers flood insurance policies as a participant in the National Flood Insurance Program (NFIP), which is managed by the federal government.<ref name=Flood>{{cite news|last=Mcpherson|first=David|title=Insurance Adjusters Fan Out Across Gulf Coast|url=http://www.projo.com/business/content/projo_20050909_adj09x.788887a.html|accessdate=14 March 2011|newspaper=The Providence Journal|date=9 September 2005}}</ref><ref name=NFIP>{{cite web|title=Auto Insurance Coverage and Homeowners Claims|url=https://www.metlife.com/individual/insurance/auto-insurance/service-claims.html|accessdate=20 November 2014|newspaper=The Register-Guard|date=1 July 2007|deadurl=no|archiveurl=https://web.archive.org/web/20141129033341/https://www.metlife.com/individual/insurance/auto-insurance/service-claims.html|archivedate=29 November 2014|df=}}</ref> MetLife's various types of coverage for auto insurance include liability protection, collision and comprehensive coverage, personal injury protection, rental car coverage, and uninsured and underinsured motorists coverage.<ref>{{cite web|title=Individual and Group Auto Insurance Policies|url=https://www.metlife.com/individual/insurance/auto-insurance/index.html|website=MetLife|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105015116/https://www.metlife.com/individual/insurance/auto-insurance/index.html|archivedate=5 November 2014|df=}}</ref><ref>{{cite web|title=Group Auto Insurance|url=https://www.metlife.com/individual/insurance/auto-insurance/group.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141213013321/https://www.metlife.com/individual/insurance/auto-insurance/group.html|archivedate=13 December 2014|df=}}</ref> Through an arrangement with Hyatt Legal Plans, a subsidiary of MetLife, MetLife Auto & Home underwrites group legal plans in many states.<ref name=HyattLegal>{{cite news|last=Levy|first=Douglas|title=Prepaid Legal Plans Help Bolster Attorney's Practices|newspaper=Michigan Lawyers Weekly|date=21 June 2010}}</ref>
It was the first national insurer in the United States to offer identity-theft resolution services at no extra premium and as of 2012 continues to do so today in most United States states.<ref name=IDTheft>{{cite news|last=Edsall|first=Noel|title=New Coverage: ID Theft Insurance|url=https://www.npr.org/templates/story/story.php?storyId=4563985|accessdate=9 September 2010|newspaper=NPR|date=28 March 2005|deadurl=no|archiveurl=https://web.archive.org/web/20060717020515/http://www.npr.org/templates/story/story.php?storyId=4563985|archivedate=17 July 2006|df=}}</ref><ref name=ContinCoverage>{{cite journal|journal=Insurance Journal|date=April 2010|url=http://www.insurancejournal.com/news/national/2010/04/01/108597.htm|title=MetLife Auto & Home Adds Tax-Related Identity Theft Service|accessdate=14 March 2011|deadurl=no|archiveurl=https://web.archive.org/web/20100404071305/http://www.insurancejournal.com/news/national/2010/04/01/108597.htm|archivedate=4 April 2010|df=}}</ref> In 2010, MetLife Auto & Home began offering their GrandProtect plan in most states. This GrandProtect policy simplifies complex insurance needs by combining a client's home, valuable items, autos, RVs, and boats into one comprehensive policy package. The ultimate benefits to the consumer are having one bill, only one deductible, comprehensive coverage, and typically lower rates than trying to get each policy individually.<ref name=GrandProtect>{{cite web|title=Coverage from MetLife Auto and Home Insurance|url=https://www.metlife.com/individual/insurance/auto-insurance/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105015116/https://www.metlife.com/individual/insurance/auto-insurance/index.html|archivedate=5 November 2014|df=}}</ref>
===Other products===
MetLife’s products also include [[critical illness insurance]].<ref name=Criticalillness>{{cite news|last=Lisanti|first=Joseph|title=Going Beyond Disability Insurance|newspaper=Daily News (New York)|date=13 September 2010}}</ref> Financial services include fee-based financial planning, retirement planning, wealth management, 529 Plans, banking, and commercial and residential [[mortgages]].<ref name=Other>{{cite web|title=Investment Products|url=https://www.metlife.com/individual/investment-products/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105051818/https://www.metlife.com/individual/investment-products/index.html|archivedate=5 November 2014|df=}}</ref> The company also provides retirement plan and other financial services to healthcare, education, and not-for-profit organizations.<ref name=NonProfitRetirement>{{cite web|title=Retirement|url=https://www.metlife.com/brokers/retirement-and-benefit-planning/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=yes|archiveurl=https://web.archive.org/web/20141129033332/https://www.metlife.com/brokers/retirement-and-benefit-planning/index.html|archivedate=29 November 2014|df=}}</ref> The MetLife Center for Special Needs Planning is a group of planners which serve families and individuals with special needs.<ref name=SpecialNeeds>{{cite journal|title=Insurer Launches Special Needs Planning Center|journal=National Underwriter Life & Health/Financial Services|date=March 2010}}</ref> In 2014, MetLife launched MetLife Defender, a digital [[identity theft]] protection product.<ref>{{cite web|url=https://www.metlifedefender.com|archive-url=https://web.archive.org/web/20140427153513/https://www.metlifedefender.com/|dead-url=yes|archive-date=27 April 2014|title=Identity Theft Protection - MetLife Defender|work=MetLife Defender|accessdate=17 June 2015}}</ref>
== International presence ==
Outside of the United States, MetLife operates in Latin America, Europe, Asia’s Pacific region, and the Middle East, with leading market positions in Mexico, Japan, South Korea and Chile.<ref name="AlicoInternational_10"/>
On March 8, 2010, MetLife announced its intent to purchase the international leader life-insurance business, American Life Insurance Company (Alico), from [[American International Group]] (AIG). MetLife, which completed the deal on November 1, 2010, paid approximately $7.2 billion in cash and $9.0 billion in MetLife equity and other securities.<ref name=SalePrice>{{cite web|title=MetLife completes Alico acquisition in USD16bn cash-and-stock deal|url=http://www.tradingmarkets.com/news/stock-alert/aig_met_metlife-completes-alico-acquisition-in-usd16bn-cash-and-stock-deal-1271316.html|accessdate=15 March 2011}}{{dead link|date=September 2017 |bot=InternetArchiveBot |fix-attempted=yes }}</ref><ref name=GlobalWall>{{cite news|last=Scism|first=Leslie|title=MetLife 's CEO Completes His Quest --- Flush With Capital During The Crisis, the Insurer Had Its Pick of Deals, but Settled on Alico|newspaper=The Wall Street Journal|date=9 March 2010}}</ref> The securities portion of the deal consisted of 78.2 million shares of MetLife common stock, 6.9 million shares of contingent convertible preferred stock and 40 million equity units.<ref name=ALICOSTATS>{{cite press release|title=MetLife to Acquire American Life Insurance Company from American International Group for Approximately $15.5 Billion|url=http://www.thestreet.com/story/10906032/1/metlife-completes-acquisition-of-american-life-insurance-company.html|publisher=Business Wire|date=1 November 2010|accessdate=15 March 2011|deadurl=no|archiveurl=https://web.archive.org/web/20110717035234/http://www.thestreet.com/story/10906032/1/metlife-completes-acquisition-of-american-life-insurance-company.html|archivedate=17 July 2011|df=}}</ref> The values of the common and preferred stock were based on the closing price of MetLife’s common stock on October 29.<ref name=ALICOSTATS/> Upon completion of the purchase, MetLife became a leading competitor in [[Japan]], the world’s second-largest life insurance market, and moved into a top 5 market position in many high growth emerging markets in [[Central Europe|Central]] and [[Eastern Europe]], such as [[Romania]], [[the Middle East]] and [[Latin America]].<ref name="ALICOSTATS" /> The deal added 20 million customers to MetLife’s 70 million and according to ''Barron's'' more than doubled the percentage of operating profits that MetLife gets abroad to 40%.<ref name=MexEng_103/>
In India MetLife has an affiliate company ''India Insurance Company Limited (MetLife)'' which has operated in India since 2001. This company has its headquarters in Bangalore and Gurgaon and was jointly owned by MetLife and a few local Indian financial companies. In 2012 an agreement was made with local Indian bank, the [[Punjab National Bank]] to establish a strategic alliance and for it to take a 30% share in MetLife India.<ref>{{cite news |url=http://www.indianexpress.com/news/punjab-national-bank-acquires-30--stake-in-metlife-company-to-be-rebranded/1054584 |title=Punjab National Bank acquires 30% stake in Metlife, company to be re-branded |publisher=The Indian Express|date=Jan 4, 2013}}</ref> The state owned bank would in return sell MetLife insurance products in its branches
As of 2015, Julio Garcia-Villalon leads the Middle East & Africa regional business, which is headquartered in the [[Dubai International Financial Centre]] and has operated in the region since the 1950s.<ref>{{Cite news|url = https://www.highbeam.com/doc/1G1-436352668.html|title = MetLife Middle East & Africa Wins Life Insurance Company of the Year Award|last = Staff|date = 3 December 2015|work = Global Banking News|access-date = 20 December 2015|via = Highbeam Research|deadurl = no|archiveurl = https://web.archive.org/web/20160210105309/https://www.highbeam.com/doc/1G1-436352668.html|archivedate = 10 February 2016|df = }}</ref>
== MetLife Foundation ==
MetLife Foundation is MetLife's independent charitable and [[grant (money)|grant-awarding]] [[Foundation (nonprofit)|foundation]]. It was founded in 1976<ref name=Peralta15>{{cite news |title=MetLife Foundations donates $100,000 for women’s leadership program at UNCC |author=Katherine Peralta |url=http://www.charlotteobserver.com/news/business/article9282494.html |work=The Charlotte Observer |date=27 January 2015 |accessdate=15 May 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150803065236/http://www.charlotteobserver.com/news/business/article9282494.html |archivedate=3 August 2015 |df= }}</ref> and had provided over $650 million in grants by January 2015.<ref name=Peralta15/> The foundation has partnered with and donated to a variety of organizations, including [[Habitat for Humanity]] since 2010<ref name=Amedro08>{{cite news |title=New home means new life for family ; Residents of the newly completed Habitat for Humanity home put in sweat equity to qualify for it. |author=Kimberly Amedro |url=http://www.highbeam.com/doc/1P2-16950838.html |work=Dayton Daily News |date=1 August 2008 |accessdate=26 May 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20160108112719/https://www.highbeam.com/doc/1P2-16950838.html |archivedate=8 January 2016 |df= }}</ref> and the [[Martin Luther King, Jr. Memorial|Martin Luther King, Jr. National Memorial Project Foundation]] since 2008.<ref name=Curry11>{{cite news |title=Money and the MLK Memorial |author=George E. Curry |url=http://www.stlamerican.com/business/local_business/article_8d0eddfe-ce9a-11e0-b1a0-001cc4c002e0.html |work=The St. Louis American |date=25 August 2011 |accessdate=26 May 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20180511011222/http://www.stlamerican.com/business/local_business/article_8d0eddfe-ce9a-11e0-b1a0-001cc4c002e0.html |archivedate=11 May 2018 |df= }}</ref><ref name=Memorial08>{{cite news |title=MetLife raises cash for MLK Memorial |author= |url=http://www.bizjournals.com/atlanta/stories/2008/02/25/daily50.html |work=BizJournals |date=25 February 2008 |accessdate=11 June 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20080303155329/http://www.bizjournals.com/atlanta/stories/2008/02/25/daily50.html |archivedate=3 March 2008 |df= }}</ref> In 2013, the MetLife Foundation announced a new focus on [[financial inclusion]],<ref name=MFFI>{{cite web|url=https://www.metlife.com/about/corporate-responsibility/metlife-foundation/mission-and-vision/index.html|title=MetLife Foundation Mission and Vision|author=|date=|work=|publisher=MetLife|accessdate=28 May 2015|deadurl=yes|archiveurl=https://web.archive.org/web/20150906154008/https://www.metlife.com/about/corporate-responsibility/metlife-foundation/mission-and-vision/index.html|archivedate=6 September 2015|df=}}</ref> including educational programs on basic financial planning for disadvantaged children<ref name=Kashmir14>{{cite news |title=Rather Launches JK Bank-PNB Metlife Joint Initiative For Children |author= |url=http://www.kashmirobserver.net/news/local-news/rather-launches-jk-bank-pnb-metlife-joint-initiative-children |work=Kashmir Observer |date=7 August 2014 |accessdate=28 May 2015 |deadurl=yes |archiveurl=https://web.archive.org/web/20150925134614/http://www.kashmirobserver.net/news/local-news/rather-launches-jk-bank-pnb-metlife-joint-initiative-children |archivedate=25 September 2015 |df= }}</ref><ref name=ECT15>{{cite news |title=US NGO partners with MetLife to provide microfinance in UP |author= |url=http://articles.economictimes.indiatimes.com/2015-03-12/news/60048176_1_metlife-india-microfinance-inclusion |work= The Economic Times |date=12 March 2015 |accessdate=28 May 2015}}</ref> and financial services aimed at low-income communities.<ref name="ECT15"/><ref name=Moses15>{{cite news |title=A Foundation and Newspaper Team Up in a Global Push for Financial Inclusion |author=Sue-Lynn Moses |url=http://www.insidephilanthropy.com/home/2015/3/25/a-foundation-and-newspaper-team-up-in-a-global-push-for-fina.html |work=Inside Philanthropy |date=25 March 2015 |accessdate=28 May 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150327224459/http://www.insidephilanthropy.com/home/2015/3/25/a-foundation-and-newspaper-team-up-in-a-global-push-for-fina.html |archivedate=27 March 2015 |df= }}</ref><ref name=Cook15>{{cite news |title=Baby Steps Toward Home Ownership |author=Nancy Cook |url=http://www.nationaljournal.com/next-economy/solutions-bank/baby-steps-toward-home-ownership-20150220 |work=The National Journal |date=20 February 2015 |accessdate=28 May 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150601080936/http://www.nationaljournal.com/next-economy/solutions-bank/baby-steps-toward-home-ownership-20150220 |archivedate=1 June 2015 |df= }}</ref>
==Relationship with ''Peanuts''==
MetLife's use of comic strip characters, according to [[chief marketing officer]] Esther Lee, was intended "to make our company more friendly and approachable during a time when insurance companies were seen as cold and distant."<ref name=retools/>
MetLife licensed ''[[Snoopy]]'' and other ''[[Peanuts]]'' characters for promotional purposes from the [[Iconix Brand Group]], which owns the promotional rights to the works of [[Charles M. Schulz]]. In 2010, Iconix formed a joint venture with Schulz’s heirs (as Charles Schulz himself died in 2000), buying out [[E. W. Scripps]] Co. and [[United Features Syndicate]] for $175 million. MetLife is reported to pay $12 million per year to Iconix for licensing rights.<ref name="forbescb">{{cite news
|url = https://www.forbes.com/sites/abrambrown/2013/10/30/youre-an-old-brand-charlie-brown-the-80m-business-of-peanuts-needs-a-turnaround/
|publisher = Forbes
|date = 2013-10-30
|title = You're An Old Brand, Charlie Brown: The $80M Business Of Peanuts Needs A Turnaround
|author = Brown, Abram
|deadurl = no
|archiveurl = https://web.archive.org/web/20171214084023/https://www.forbes.com/sites/abrambrown/2013/10/30/youre-an-old-brand-charlie-brown-the-80m-business-of-peanuts-needs-a-turnaround/
|archivedate = 2017-12-14
|df =
}}</ref> Prior to the Iconix deal, MetLife had licensed the characters from other rights-holders.
The Peanuts-based campaign was developed by the advertising agency [[Young & Rubicam]]. MetLife also has used [[Foote Cone & Belding]] to develop Peanuts-related promotions.<ref name=Campaign1>{{cite news|last=Elliot|first=Stuart|title=Young & Rubicam holds onto a MetLife account amid a flurry of change and consolidation|url=https://www.nytimes.com/2000/12/20/business/media-business-advertising-young-rubicam-holds-onto-metlife-account-amid-flurry.html|accessdate=23 March 2011|newspaper=The New York Times|date=20 December 2000|deadurl=no|archiveurl=https://web.archive.org/web/20090412192551/http://www.nytimes.com/2000/12/20/business/media-business-advertising-young-rubicam-holds-onto-metlife-account-amid-flurry.html|archivedate=12 April 2009|df=}}</ref><ref name=Campaign2>{{cite news|last=Elliot|first=Stuart|title=Woodstock and Snoopy Answer Life's What-Ifs|url=https://www.nytimes.com/2006/06/21/business/media/21adco.html|accessdate=23 March 2011|newspaper=The New York Times|date=21 June 2006|deadurl=no|archiveurl=https://web.archive.org/web/20111109042003/http://www.nytimes.com/2006/06/21/business/media/21adco.html|archivedate=9 November 2011|df=}}</ref>
MetLife announced the end of its 31-year relationship with ''[[Peanuts]]'' on October 20, 2016. This decision resulted from the company's sale of its life insurance business to concentrate on corporate clients.<ref name=retools>{{cite news|url=http://www.journalnow.com/business/snoopy-and-peanuts-gang-are-cut-loose-by-metlife-as/article_d6ceb15e-96e4-11e6-a5f0-630e4a29c7c9.html|title=Snoopy and Peanuts gang are cut loose by MetLife as it retools business|agency=[[Associated Press]]|work=[[Winston-Salem Journal]]|date=20 October 2016|accessdate=20 October 2016}}</ref> MetLife's new blue and green logo was criticized for being a knock-off of comparison website Diffen.<ref name="campaignus">{{cite news|last1=Liffreing|first1=Ilyse|title=Coincidence or theft? MetLife's new logo is nearly identical to Diffen's|url=http://www.campaignlive.com/article/coincidence-theft-metlifes-new-logo-nearly-identical-diffens/1414205|accessdate=3 November 2016|publisher=Campaign US|date=1 November 2016|deadurl=no|archiveurl=https://web.archive.org/web/20161104020624/http://www.campaignlive.com/article/coincidence-theft-metlifes-new-logo-nearly-identical-diffens/1414205|archivedate=4 November 2016|df=}}</ref><ref name="nypostlogo">{{cite news|last1=Dugan|first1=Kevin|title=MetLife’s new logo looks awfully familiar|url=https://nypost.com/2016/11/02/metlifes-new-logo-looks-awfully-familiar/|accessdate=3 November 2016|publisher=New York PostS|date=2 November 2016|deadurl=no|archiveurl=https://web.archive.org/web/20161104033943/http://nypost.com/2016/11/02/metlifes-new-logo-looks-awfully-familiar/|archivedate=4 November 2016|df=}}</ref>
==Blimp and sports sponsorship==
[[Image:Metlife snoopy two blimp.jpg|right|thumb|The Metlife 'Snoopy Two' blimp.]]
The MetLife blimp program began in 1987 with the “Snoopy 1” airship and, in 1994, expanded to include the “Snoopy 2” airship.<ref name=BlimpsOrigin>{{cite news|last=Shine|first=Dan|title=The Love Float|newspaper=The Dallas Morning News|date=29 December 1994}}</ref> The program provides aerial coverage to over 80 major sporting events every year and is currently the official aerial coverage provider of the PGA Tour.<ref name=PGATour>{{cite journal|title=MetLife Joins Forces with Believe In Tomorrow Children's Foundation|journal=Wireless News|date=August 2010}}</ref> “Snoopy 1” and “Snoopy 2” also provide overhead television coverage for the [[NFL]], [[CBS]] College Football, the [[LPGA]], the [[NBA Finals]], [[Copa Chile]], the [[Preakness Stakes]], and the [[Kentucky Derby]].<ref name=PGATour/><ref name=Horses>{{cite journal|title=MetLife Inflates Blimp Fleet|journal=National Underwriter|date=August 2007|page=7}}</ref><ref name=SportingLife>{{cite press release|title=MetLife to Be the First Major Marketing Partner of the New Meadowlands Stadium in NJ|url=http://www.webwire.com/ViewPressRel.asp?aId=68077|publisher=Web Wire|date=17 June 2008|accessdate=24 August 2010|deadurl=no|archiveurl=https://web.archive.org/web/20120307223902/http://www.webwire.com/ViewPressRel.asp?aId=68077|archivedate=7 March 2012|df=}}</ref><ref name=CBSFootball>{{cite web|url=https://www.metlife.com/about/advertising/MetLife-blimp/schedule/index.html|title=Blimp Schedule|publisher=MetLife|accessdate=20 November 2014|deadurl=yes|archiveurl=https://web.archive.org/web/20141129033346/https://www.metlife.com/about/advertising/MetLife-blimp/schedule/index.html|archivedate=29 November 2014|df=}}</ref> On August 23, 2011, MetLife agreed to a 25-year sponsorship deal to rename New Meadowlands Stadium in [[East Rutherford, New Jersey]], home of the NFL's [[New York Giants]] and [[New York Jets]] to [[MetLife Stadium]].<ref>{{cite news |title=MetLife announces it has bought the naming rights to New Meadowlands Stadium for 25 years |url=https://www.washingtonpost.com/sports/redskins/metlife-announces-it-has-bought-the-naming-rights-to-new-meadowlands-stadium-for-25-years/2011/08/23/gIQA9cJ8YJ_story.html |newspaper=The Washington Post |agency=Associated Press |date=August 23, 2011 |accessdate=2011-08-23 }} {{Dead link|date=September 2013|bot=RjwilmsiBot}}</ref>
From 2014 to 2017, MetLife is the title sponsor of the [[BWF Super Series]] badminton tournament.<ref>{{cite web|url=https://www.insidethegames.biz/articles/1017517/metlife-announced-as-title-sponsor-for-bwf-world-superseries-in-four-year-deal|title=MetLife announced as title sponsor for BWF World Superseries|publisher=|deadurl=no|archiveurl=https://web.archive.org/web/20171201030628/https://www.insidethegames.biz/articles/1017517/metlife-announced-as-title-sponsor-for-bwf-world-superseries-in-four-year-deal|archivedate=2017-12-01|df=}}</ref>
==MetLife and the “Ideal weight”==
In 1959, The Metropolitan Life Insurance Company (as it was known at the time) released tables of the best weight for each height for longevity, based on their collected insurance data. These tables showed the “desirable weights”. In 1983, they released tables showing the “ideal” weights for greatest longevity; this information was based on data collected in the Build Study of 1979 collected by the [[Society of Actuaries]]. This data followed patients for 18 years (from 1954-1972) and was collected from 25 life insurance companies in Canada and the United States, representing 4.2 million people. These “ideal” weights were higher than the prior “desirable” weights, this was attributed to an increase in muscle mass due to improved fitness levels among the population. This study is still the largest available pool of data for this purpose. It was noticed that the average weights in the population are higher than the ideal weights for survival. The ‘’’Metropolitan Tables’’’ included ‘’small’’, ‘’medium’’ and ‘’large’’ frames, based on elbow-girth measured using calipers, as the elbows do not develop adipose tissue. They presented weight ranges for height, sex and body frame (again associated with the lowest mortality) The midpoint of the ideal weight for the medium frames for each height was selected as the “ideal” weight used for calculations of “excess weight” (initial weight minus ideal weight). This led to a formula to calculate the ideal weight used by [[bariatrics|bariatric]] surgeons, but it had lost considerable accuracy by 2007, again due to improvements in medical care and in public health.<ref>{{cite journal |last=Deital |first=Mervyn |display-authors=etal |date=May 18, 2007 |title=Reporting Weight Loss 2007 |journal=Obesity Surgery |volume=17 |issue=5 |location= |pages=565–568|doi=10.1007/s11695-007-9116-0 |pmid=17658011 }}</ref>
==See also==
{{Portal|New York City|Companies}}
* [[List of United States insurance companies]]
* [[Met English]]
* [[Park La Brea, Los Angeles, California]]
* [[Park Merced, San Francisco, California]]
* [[Parkchester, Bronx]]
* [[Riverton Houses]]
* [[Stuyvesant Town]]
==References==
{{reflist|2}}
==Archives and records==
*[http://nrs.harvard.edu/urn-3:HBS.Baker.EAD:bak00219 New England Mutual Life Insurance Company records] at Baker Library Special Collections, Harvard Business School.
==External links==
{{Commons category}}
* {{Official website|https://www.metlife.com}}
{{Finance links
| name = MetLife
| symbol = MET
| sec_cik = MET
| yahoo = MET
| google = MET
}}
{{Major insurance companies}}
{{DEFAULTSORT:Metlife}}
[[Category:MetLife| ]]
[[Category:Life insurance companies of the United States]]
[[Category:Financial services companies based in New York City]]
[[Category:Insurance companies based in New York City]]
[[Category:Former mutual insurance companies]]
[[Category:American companies established in 1868]]
[[Category:Financial services companies established in 1868]]
[[Category:1868 establishments in New York (state)]]
[[Category:Companies listed on the New York Stock Exchange]]
{{For|the ''League of Legends'' player formerly known as Matlife|Matt Elento}}
{{Infobox company
| name = MetLife, Inc.
| logo = MetLife logo.svg
| logo_size = 250px
| type = [[Public company|Public]]
| traded_as = {{unbulleted list|{{NYSE|MET}}|[[S&P 100|S&P 100 Component]]|[[S&P 500|S&P 500 Component]]}}
| foundation = {{start date and age|1868|3|24}}
| location = {{unbulleted list|[[MetLife Building]]|New York, New York, U.S.}}
| key_people = {{plainlist|
*[[Steven A. Kandarian]] {{small|([[President (corporate title)|President]], [[Chairman]], & [[Chief Executive Officer|CEO]])}}}}
| industry = [[Financial services]]
| products = [[Insurance]], [[Annuity (US financial products)|Annuities]], [[Employee Benefits]]
| revenue = {{increase}} [[US$]] 62.308 billion {{small|(2017)}}<ref name="10-K 2017">{{cite web|url=https://www.sec.gov/Archives/edgar/data/1099219/000093783418000005/met-20171231x10k.htm|title=US SEC: Form 10-K MetLife, Inc.|publisher=[[United States Securities and Exchange Commission]]|date=February 2018|website=sec.gov|deadurl=no|archiveurl=https://web.archive.org/web/20180403234928/https://www.sec.gov/Archives/edgar/data/1099219/000093783418000005/met-20171231x10k.htm|archivedate=2018-04-03|df=}}</ref>
| operating_income = {{decrease}} US$ 3.536 billion {{small|(2017)}}<ref name="10-K 2017"/>
| net_income = {{increase}} US$ 4.010 billion {{small|(2017)}}<ref name="10-K 2017"/>
| assets = {{decrease}} US$ 719.892 billion {{small|(2017)}}<ref name="10-K 2017"/>
| equity = {{decrease}} US$ 58.676 billion {{small|(2017)}}<ref name="10-K 2017"/>
| num_employees = 49,000 {{small|(2017)}}<ref name="10-K 2017"/>
| homepage = [https://www.metlife.com/ MetLife.com]
}}
'''MetLife, Inc.''' is the [[Holding company|holding corporation]] for the '''Metropolitan Life Insurance Company''' ('''MLIC'''),<ref>{{Cite news|url = https://www.highbeam.com/doc/1G1-429993776.html|title = MetLife Announces Third Quarter Non-Cash Charge|last = Staff|date = 2 October 2015|work = Insurance Weekly News|access-date = 20 December 2015|via = HighBeam Research|deadurl = no|archiveurl = https://web.archive.org/web/20160108112718/https://www.highbeam.com/doc/1G1-429993776.html|archivedate = 8 January 2016|df = }}</ref> better known as '''MetLife''', and its affiliates. MetLife is among the largest global providers of [[insurance]], [[Annuity (US financial products)|annuities]], and [[employee benefit]] programs, with 90 million customers in over 60 countries.<ref name="NintyMillion_10">{{cite news |title = MetLife Expands Beyond 'Slow Growth' U.S. Market |url = http://www.tulsaworld.com/business/metlife-expands-beyond-slow-growth-u-s-market/article_285c69f6-a4f7-5e5a-adfb-104656eda0eb.html |accessdate = 16 December 2015 |newspaper = Tulsa World |date = 11 March 2010 |last = Staff & Wire Reports }}</ref><ref name= BWIRE_09>{{cite press release |title= MetLife and Fidelity Introduce New Retirement Income Solution: A Variable Annuity Designed to Provide Lifetime Income for Those Nearing or in Retirement |publisher= Business Wire |date=16 November 2009 }}</ref> The firm was founded on March 24, 1868.<ref name=GBook_06>{{cite book |title=Envy of the world: a history of the U.S. economy & big business|last=Botti |first=Timothy |authorlink= |year=2006 |publisher=Algora Publishing |location=New York, NY |isbn=0-87586-431-7 |page= |pages=140 |url=}}</ref>
On January 6, 1915, MetLife completed the [[mutualization]] process, changing from a stock life insurance company owned by individuals to a mutual company operating without external shareholders and for the benefit of policyholders.<ref name=Mutualzation>{{cite web |url=http://www.metveterans.com/files/13338/Company%20Highlights.pdf |title=Company Highlights |accessdate=2 March 2011 |deadurl=no |archiveurl=https://web.archive.org/web/20120321191422/http://www.metveterans.com/files/13338/Company%20Highlights.pdf |archivedate=21 March 2012 |df= }}</ref> The company went public in 2000.<ref name=IPO_Deal>{{cite news |title= In Play |newspaper= Daily Deal|date=7 April 2000 |url= }}</ref> Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia’s Pacific region, Europe, and the Middle East.<ref name="AlicoInternational_10">{{cite journal|last = Lehmann|first = R.J.|title = MetLife Sees Alico Deals as Door to Growth in China, Middle East|journal = SNL Insurance M&A|date = 4 June 2010|url = http://insurancenewsnet.com/oarticle/2010/06/10/MetLife-Sees-Alico-Deal-As-Door-To-Growth-In-China-a-197039.html|via = insurancenewsnet|deadurl = no|archiveurl = https://web.archive.org/web/20151222102837/http://insurancenewsnet.com/oarticle/2010/06/10/MetLife-Sees-Alico-Deal-As-Door-To-Growth-In-China-a-197039.html|archivedate = 22 December 2015|df = }}{{Subscription required}}</ref> MetLife serves 90 of the largest [[Fortune 500]] companies.<ref name="Ninety">{{cite news|title = KASB FL, MetLife Alico Sign Investment Agreement|url = http://pakobserver.net/201012/31/detailnews.asp?id=69050|accessdate = 14 March 2011|newspaper = Pakistan Observer|date = 31 December 2010}}{{Dead link|date = December 2015}}</ref> The company’s principal offices are located at [[MetLife Building|200 Park Avenue, New York City]] in [[Midtown Manhattan]], [[New York City]], though it retains some executive offices and its boardroom in the [[MetLife Building]], located at 200 Park Avenue, New York City, which it sold in 2005.<ref name=NYT_05>{{cite news |title= MetLife Sells 2nd Building, A Landmark On Park Ave |author= Anthony Ramirez |newspaper= The New York Times |date= 2 April 2005 |url= https://query.nytimes.com/gst/fullpage.html?res=9901E5DA113FF931A35757C0A9639C8B63 |deadurl= no |archiveurl= https://web.archive.org/web/20150203031158/http://query.nytimes.com/gst/fullpage.html?res=9901E5DA113FF931A35757C0A9639C8B63 |archivedate= 3 February 2015 |df= }}</ref>
In January 2016, the company announced that it would spin off U.S. Retail business, including individual life insurance and annuities for the retail market, in a separate company called [[Brighthouse Financial]].<ref>{{cite web|url=https://www.metlife.com/brighthousefinancial/|title=Important Information About MetLife's U.S. Retail Business Separation|website=www.metlife.com|deadurl=no|archiveurl=https://web.archive.org/web/20170505084637/https://www.metlife.com/brighthousefinancial/|archivedate=2017-05-05|df=}}</ref> They will maintain the MetLife name on [[MetLife Stadium]].<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2016-07-21/metlife-rebrands-retail-unit-to-be-separated-as-brighthouse|title=MetLife Shelves 148-Year-Old U.S. Retail Brand for ‘Brighthouse’|date=21 July 2016|publisher=|via=www.bloomberg.com|deadurl=no|archiveurl=https://web.archive.org/web/20170202020040/https://www.bloomberg.com/news/articles/2016-07-21/metlife-rebrands-retail-unit-to-be-separated-as-brighthouse|archivedate=2 February 2017|df=}}</ref> On March 6, 2017, the separated U.S. Retail business launched Brighthouse Financial – an independent company focused on life insurance and annuities.
== Corporate structure ==
{{Update|section|date = December 2015}}
{{As of|2010}}, the company was "organized into five segments: Insurance Products, Retirement Products," the US Business (including Auto & Home and Corporate Benefit Funding), and International.<ref name="Disability10K" /> The Insurance Products division was the largest unit, accounting for 53% of 2009 revenue.<ref name="MexEng_103" /> By 2015, a division referred to as "Americas" had emerged.<ref name=":0" />
=== Corporate governance ===
{{Expand section|date = December 2015}}
As of 2011, MetLife's [[chief executive officer]] was Steve Kandarian.<ref name="Frye11" /> Kandarian also served as the company's [[Chairman|chairman of the board]] and [[President (corporate title)|president]] as of 2015.<ref name=":0" />
In 2015, MetLife hired Hugh Dineen to fill the new role of [[chief marketing officer]] within the US Business Unit.<ref>{{Cite journal|url = http://adage.com/article/cmo-strategy/metlife-hires-avon-s-hugh-dineen-lead-u-s-marketing/301657/|title = MetLife Hires Avon's Hugh Dineen to Lead U.S. Marketing|last = Stein|first = Lindsay|date = 8 December 2015|journal = [[Advert. Age|Advertising Age]]|doi = |pmid = |access-date = 16 December 2015|deadurl = no|archiveurl = http://archive.wikiwix.com/cache/20151218030059/http://adage.com/article/cmo-strategy/metlife-hires-avon-s-hugh-dineen-lead-u-s-marketing/301657/|archivedate = 18 December 2015|df = }}</ref>
As in many large, public corporations, MetLife has a [[compensation committee]] which establishes compensation levels for the company's senior executives; MetLife compensation emphasizes "variable performance-based compensation over fixed or guaranteed pay".<ref name=":0">{{Cite news|url = https://www.wsj.com/articles/metlife-ceo-kandarian-got-15-2-million-pay-package-for-2014-1425651258|title = MetLife CEO Got $15.2 Million Pay Package for 2014|last = Scism|first = Leslie|date = 6 March 2015|work = [[Wall Str. J.|The Wall Street Journal]]|access-date = 16 December 2015|deadurl = no|archiveurl = https://web.archive.org/web/20151222120904/http://www.wsj.com/articles/metlife-ceo-kandarian-got-15-2-million-pay-package-for-2014-1425651258|archivedate = 22 December 2015|df = }}</ref>
=== Subsidiary and affiliate companies ===
MetLife subsidiaries and affiliates have included MetLife Investors, MetLife Bank, MetLife Securities, Metropolitan Property and Casualty Insurance Company and its subsidiaries, General American, Hyatt Legal, MetLife Resources, New England Financial, Walnut Street Securities, Inc., Safeguard Health Enterprises, Inc., and Tower Square Securities, Inc., Cigna.<ref name="HyattLegal" /><ref name="MetLifeInvestorsTwo">{{cite news|title=MetLife Hires Bank Distributors|newspaper=American Banker|date=24 August 2007}}</ref><ref name="MetLifeBankHistory">{{cite news|last=Considine|first=Bob|title=MetLife Bank Enjoys 5 Years in Bridgewater: Banking on Success|newspaper=Courier News|date=20 September 2007}}</ref><ref name="Securities">{{cite web|title=MetLife Securities|url=https://msi.metlife.com/wps/portal/public/signin|publisher=MetLife|accessdate=20 November 2014}}</ref><ref name="Fortune">{{cite journal|last=Galentine|first=Elizabeth|title=Bread and Butter Products Help Vendors Outlast Recession|journal=Employee Benefit News Insurance|date=24 March 2010|url=http://ebn.benefitnews.com/news/bread-and-butter-products-help-vendors-outlast-recession-2683249-1.html|accessdate=15 March 2011|deadurl=yes|archiveurl=https://web.archive.org/web/20110725050839/http://ebn.benefitnews.com/news/bread-and-butter-products-help-vendors-outlast-recession-2683249-1.html|archivedate=25 July 2011|df=}}</ref><ref name="Conneticut">{{cite press release|title=MetLife Resources Introduces Enhanced 403(b) Product|url=http://www.insurancenewsnet.com/article.aspx?n=1&neID=20080731290.2_86eb01bcff7e6e39|publisher=Business Wire|date=31 July 2008|accessdate=10 September 2010|deadurl=yes|archiveurl=https://web.archive.org/web/20110719100122/http://www.insurancenewsnet.com/article.aspx?n=1&neID=20080731290.2_86eb01bcff7e6e39|archivedate=19 July 2011|df=}}</ref><ref name="GeneralAmerican">{{cite news|last=Lazarus|first=David|title=MetLife Spreads It Around|url=http://articles.sfgate.com/2004-02-27/business/17413765_1_privacy-policy-metlife-customer-information|accessdate=15 March 2011|newspaper=The San Francisco Chronicle|date=27 February 2004|deadurl=no|archiveurl=https://archive.is/20130208182748/http://articles.sfgate.com/2004-02-27/business/17413765_1_privacy-policy-metlife-customer-information|archivedate=8 February 2013|df=}}</ref><ref name="Safeguard">{{cite press release|title=MetLife Completes Acquisition of SafeGuard|url=http://www.businesswire.com/news/home/20080201005847/en/MetLife-Completes-Acquisition-SafeGuard|publisher=Business Wire|date=1 February 2008|accessdate=10 September 2010|deadurl=no|archiveurl=https://web.archive.org/web/20121002161023/http://www.businesswire.com/news/home/20080201005847/en/MetLife-Completes-Acquisition-SafeGuard|archivedate=2 October 2012|df=}}</ref><ref name="Three">{{cite news|last=Ackermann|first=Matt|title=MetLife Platform Extends Advice to the Mass Affluent|newspaper=American Banker|date=28 August 2009}}
</ref>
The subsidiary MetLife Insurance Company USA, as of 2015 headquartered in [[Charlotte, North Carolina]], was formerly known as MetLife Insurance Company of Connecticut, and prior to this as [[Travelers Insurance Company]].<ref>{{Cite news|url = https://www.highbeam.com/doc/1G1-435904678.html|title = Metlife Insurance Co USA Files SEC Form D, Notice of Exempt Offering of Securities (Nov. 17, 2015)|last = Staff|date = 4 December 2015|work = Insurance Weekly News|access-date = 20 December 2015|via = HighBeam Research|deadurl = no|archiveurl = https://web.archive.org/web/20160108112718/https://www.highbeam.com/doc/1G1-435904678.html|archivedate = 8 January 2016|df = }}</ref><ref>{{Cite web|title = SEC FORM D|url = https://www.sec.gov/Archives/edgar/data/733076/000093783415000070/xslFormDX01/primary_doc.xml|website = EDGAR|accessdate = 20 December 2015|publisher = US SEC|date = 17 November 2015|deadurl = no|archiveurl = https://web.archive.org/web/20151222114814/http://www.sec.gov/Archives/edgar/data/733076/000093783415000070/xslFormDX01/primary_doc.xml|archivedate = 22 December 2015|df = }}</ref>
MetLife Bank was sold to [[GE Capital]] in 2013, and MetLife exited the banking business.<ref>{{cite news
|url = http://articles.latimes.com/2013/jan/14/business/la-fi-mo-metlife-ge-capital-bank-deposits-20130114
|publisher = Los Angeles Times
|date = 2013-01-14
|title = MetLife gets out of banking business, sells deposits to GE Capital
|author = Puzzanghera. Jim
|deadurl = no
|archiveurl = http://archive.wikiwix.com/cache/20130914222619/http://articles.latimes.com/2013/jan/14/business/la-fi-mo-metlife-ge-capital-bank-deposits-20130114
|archivedate = 2013-09-14
|df =
}}</ref>
Metlife in partnership with [[Tishman Realty & Construction]] co-owns the [[Walt Disney World]] [[Walt Disney World Swan|Swan]] and [[Walt Disney World Dolphin|Dolphin]] resort in [[Lake Buena Vista, Florida]]. The land on which the hotels are located on is owned by [[The Walt Disney Company]] and is leased to Metlife and Tishman (which owns the buildings) and operated by [[Starwood|Starwood Hotels & Resorts]] as a [[Westin Hotels & Resorts|Westin]] hotel.<ref>{{cite web|url=http://www.swandolphinmedia.com/facts.html|title=Fast Facts - Walt Disney World Swan and Dolphin - Media Site|author=|date=|website=www.swandolphinmedia.com|deadurl=no|archiveurl=https://web.archive.org/web/20171024051920/http://swandolphinmedia.com/facts.html|archivedate=2017-10-24|df=}}</ref>
==History==
===Early years===
[[File:Tichnor Brothers New England Mutual Life front.jpg|left|thumb|Home office of the New England Mutual Life Insurance Co. one of the predecessor companies of MetLife. see <ref>{{cite web |url=http://libraries.mit.edu/archives/research/collections/collections-mc/pdf/mc616.pdf |title=Archived copy |accessdate=2012-07-22 |deadurl=no |archiveurl=https://web.archive.org/web/20120809011934/http://libraries.mit.edu/archives/research/collections/collections-mc/pdf/mc616.pdf |archivedate=2012-08-09 |df= }}</ref>]]
The predecessor company to MetLife began in 1863 when a group of [[New York City]] businessmen raised $100,000 to found the '''National Union Life and Limb Insurance Company'''. The company insured [[American Civil War|Civil War]] sailors and soldiers against disabilities due to wartime wounds, accidents, and sickness. On March 24, 1868, it became known as Metropolitan Life Insurance Company and shifted its focus to the life insurance business.<ref name=Book_06>{{cite book|last=Botti|first=Timothy|title=Envy of the world: a history of the U.S. economy & big business|year=2006|publisher=Algora Publishing|location=New York, NY|isbn=0-87586-431-7|pages=140}}</ref><ref name=Origin_10>{{cite journal|last=Umasanker|title=A Study on Life Insurance Awareness Among Private Employees|journal=Economic Challenger|date=April 2010}}</ref>
[[File:Metropolitan Life Insurance Company Tower at Night with Fog.jpg|thumb|The [[Metropolitan Life Insurance Company Tower|Metropolitan Life Insurance Company tower]], which previously served as company headquarters, was featured in its advertising for many years.]]
A severe business depression that began with the [[Panic of 1873]] forced the company to contract, until it reached its lowest point in the late 1870s. After observing the insurance industry in Great Britain in 1879, MetLife President Joseph F. Knapp brought “industrial” or “workingmen’s” insurance programs to the United States – insurance issued in small amounts on which premiums were collected weekly or monthly at the policyholder’s home. By 1880, sales had exceeded a quarter million of such policies, resulting in nearly $1 million in revenue from premiums. In 1909, MetLife had become the nation’s largest life insurer in the United States, as measured by life insurance in force (the total value of life insurance policies issued).<ref name=Book_06/><ref name=Networth_01>{{cite book|last=Mauriello|first=Carrie|title=Net Worth: Using the Internet for Personal Financial Planning|year=2001|publisher=Butterworth-Heinemann|location=Woburn, MA|isbn=1-884133-83-5|pages=215}}</ref>
In 1907, the [[Metropolitan Life Insurance Company Tower|Metropolitan Life Insurance Company tower]] was commissioned to serve as MetLife’s 23rd Street headquarters in Lower Manhattan. Completed two years later, the building was the world's tallest until 1913 and remained the company's headquarters until 2005. For many years, an illustration of the building (with light emanating from the tip of its spire and the slogan, "The Light That Never Fails") featured prominently in MetLife’s [[advertising]].<ref name=Building_05>{{cite book|last=Moudry|first=Robert|title=The American Skyscraper: Cultural Histories|year=2005|publisher=Cambridge University Press|location=New York, NY|isbn=0-521-62421-5|pages=125–127}}</ref> By 1930, MetLife insured every fifth man, woman, and child in the United States and [[Canada]].<ref name=History>{{cite web|title=History|url=http://www.metlife.com/about/corporate-profile/metlife-history/metlife-begins/index.html|accessdate=25 August 2010|deadurl=yes|archiveurl=https://web.archive.org/web/20100829120532/http://www.metlife.com/about/corporate-profile/metlife-history/metlife-begins/index.html|archivedate=29 August 2010|df=}}</ref> During the 1930s, it also began to diversify its portfolio by reducing the percentage of individual mortgages in favor of public utility bonds, investments in government securities, and loans for commercial real estate.<ref name=History/> The company financed the construction of the [[Empire State Building]] in 1929 as well as provided capital to build [[Rockefeller Center]] in 1931. During [[World War II]], MetLife placed more than 51 percent of its total assets in war bonds, and was the largest single private contributor to the [[Allies of World War II|Allied]] cause.<ref name=History/>
===Postwar ===
[[File:Leroy Lincoln Metropolitan Life.jpg|left|thumb|Company president Leroy Lincoln in 1947]]
[[File:Metlife 1970.png|thumb|180px|Metropolitan Life logo, ca. 1970.]]
During the postwar era, the company expanded its suburban presence, decentralized operations, and refocused its career agency system to serve all market segments. It also began to market group insurance products to employers and institutions. By 1979, operations were segmented into four primary businesses: group insurance, personal insurance, pensions, and investments.<ref name=History/> In 1981, MetLife purchased what became known as the MetLife building for $400 million from a group that included [[Pan American World Airways]].<ref name=PanAm_05>{{cite journal|title=Done deal: $1.7b sale of MetLife Building officially closed|journal=Real Estate Weekly|date=June 2005|volume=51|pages=10}}</ref><ref name=BuildingSales>{{cite web|title=MetLife Building|url=http://www.emporis.com/application/?nav=building&lng=3&id=metlifebuilding-newyorkcity-ny-usa|publisher=Emporis|accessdate=2 March 2011|deadurl=no|archiveurl=https://web.archive.org/web/20110629112617/http://www.emporis.com/application/?nav=building&lng=3&id=metlifebuilding-newyorkcity-ny-usa|archivedate=29 June 2011|df=}}</ref>
[[Image:Walter Gropius photo MetLife Building fassade New York USA 2005-10-03.jpg|thumb|The [[MetLife Building|MetLife building]] at 200 Park Ave in New York City. The building is no longer owned by MetLife]]
==== De-mutualization and IPO ====
In 2000, MetLife converted from a mutual insurance company operated for the benefit of its policyholders to a for-profit public company. The de-mutualization process allowed MetLife to enter unrelated insurance businesses and increase executive compensation.
Policyholders received some stock in the new company in this process.<ref>{{cite news
|url = http://old.post-gazette.com/businessnews/20000104met1.asp
|title = Decision time for MetLife policyholders
|date = 2000-01-04
|author = Boselovic, Len
|publisher = Pittsburgh Post-Gazette
|deadurl = no
|archiveurl = https://web.archive.org/web/20150503234417/http://old.post-gazette.com/businessnews/20000104met1.asp
|archivedate = 2015-05-03
|df =
}}</ref> MetLife was accused of breaching federal securities laws by misrepresenting and omitting information in materials given to policyholders during this process, resulting in years of litigation ending with a $50 million settlement in 2009.<ref>{{cite news
|url = http://www.law360.com/articles/134266/metlife-to-pay-50m-to-resolve-policyholder-suits
|title = MetLife to pay $50 million to resolve policyholder suits
|publisher = Law360
|author = Fuch, Eric
|date = 2009-11-13
|deadurl = no
|archiveurl = https://web.archive.org/web/20160201171444/http://www.law360.com/articles/134266/metlife-to-pay-50m-to-resolve-policyholder-suits
|archivedate = 2016-02-01
|df =
}}</ref>
{{clearleft}}
====Acquisitions, sales, and major deals====
* 1992 - merged with United Mutual Life Insurance Company, the only [[African-American]] life insurer in [[New York (state)|New York]], in 1992.<ref name=Scott93>{{cite news |title=United Mutual, MetLife Merge |author=Matthew Scott |url=http://www.highbeam.com/doc/1G1-13566538.html |work=Black Enterprise |date=1 February 1993 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-13566538.html |archivedate=9 September 2015 |df= }}</ref>
* 1992 - <ref name=Lublin09>{{cite news |title=AIG Chief: Loud Voice and a Listener's Ear |author=Joann S. Lublin |url=https://www.wsj.com/articles/SB124985951295318023 |work=The Wall Street Journal |date=10 August 2009 |accessdate=13 July 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150714142331/http://www.wsj.com/articles/SB124985951295318023 |archivedate=14 July 2015 |df= }}</ref> acquired [[Executive Life Insurance Company|Executive Life]]'s single premium deferred [[Annuity (US financial products)|annuity]] business, which was worth approximately $1.2 billion. MetLife also acquired the firm's life insurance business, valued at about $260 million.<ref name=Stouffer92>{{cite news |title=MetLife Gets OK To Acquire Executive Life's Businesses |author=Rick Stouffer |url=http://www.highbeam.com/doc/1P2-22445269.html |work=18 December 1992 |date= |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1P2-22445269.html |archivedate=9 September 2015 |df= }}</ref>
* 1995 - purchased New England Mutual Life Insurance Company.<ref>{{Cite news| issn = 0362-4331| last = Quint| first = Michael| title = New England And Met Life Agree to Merge Operations| work = The New York Times| accessdate = 2017-01-15| date = 1995-08-17| url = https://www.nytimes.com/1995/08/17/business/new-england-and-met-life-agree-to-merge-operations.html| deadurl = no| archiveurl = https://web.archive.org/web/20170116184705/http://www.nytimes.com/1995/08/17/business/new-england-and-met-life-agree-to-merge-operations.html| archivedate = 2017-01-16| df = }}</ref>
* 1997 - acquired Security First Group in 1997 for $377 million.<ref name=AP95>{{cite news |title=MetLife Merging with New England |author=Associated Press |url=http://www.highbeam.com/doc/1P2-22747336.html |work=The Buffalo News |date=16 August 1995 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1P2-22747336.html |archivedate=9 September 2015 |df= }}</ref><ref name=Garmhausen97>{{cite news |title=MetLife to Pay $377 Million for Bank Marketer Security First |author=Stephen Garmhausen |url=http://www.highbeam.com/doc/1G1-19674793.html |work=American Banker |date=15 August 1997 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-19674793.html |archivedate=9 September 2015 |df= }}</ref>
* 1999 - acquired [[Lincoln National Corporation]]'s individual disability income unit.<ref name=Frazier99>{{cite news |title=Metlife Assumes Lincoln National's Individual Disability Income Unit. |author=Lynne McKenna Frazier |url=http://www.highbeam.com/doc/1G1-54621984.html |work=Knight Ridder |date=12 May 1999 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-54621984.html |archivedate=9 September 2015 |df= }}</ref>
* 1999 - bought out reinsurance provider GenAmerica Corporation for $1.2 billion, as well as its subsidiaries, [[Reinsurance Group of America]] and [[Conning & Company|Conning Corporation]].<ref name=Gallagher02>{{cite news |title=GenAmerica Financial Chief Announces Resignation |author=Jim Gallagher |url=http://www.highbeam.com/doc/1G1-83064722.html |work=Knight Ridder |date=20 February 2002 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-83064722.html |archivedate=9 September 2015 |df= }}</ref><ref name=Moore99>{{cite news |title=In Brief: MetLife Buying GenAmerica Corp |author=Michael D. Moore |url=http://www.highbeam.com/doc/1G1-55584007.html |work=American Banker |date=27 August 1999 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-55584007.html |archivedate=9 September 2015 |df= }}</ref> That year, the company had grown to serve 7 million policyholders.<ref name=Quinn99>{{cite news |title=MetLife Suit could mislead holders again |author=Jane Bryant Quinn |url=http://www.highbeam.com/doc/1N1-108487BB6BF6B357.html |work=Indiana Post-Tribune |date=24 October 1999 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1N1-108487BB6BF6B357.html |archivedate=9 September 2015 |df= }}</ref>
* 2000 - de-mutualization and IPO.<ref name=Vowinkel98>{{cite news |title=MetLife Plans to Sell Stock; Insurer to Revert To Public Company |author=Patricia Vowinkel |url=http://www.highbeam.com/doc/1P2-695291.html |work=The Washington Post |date=30 November 1998 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1P2-695291.html |archivedate=9 September 2015 |df= }}</ref><ref name=Treaster00>{{cite news |title=MetLife Issues Nearly 500 Million Shares to Policyholders |author=Joseph Treaster |url=https://www.nytimes.com/2000/04/06/business/metlife-issues-nearly-500-million-shares-to-policyholders.html |work=6 April 2000 |date= |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150527132203/http://www.nytimes.com/2000/04/06/business/metlife-issues-nearly-500-million-shares-to-policyholders.html |archivedate=27 May 2015 |df= }}</ref> The [[initial public offering]] was valued at $6.5 billion, which was the largest IPO to that date in United States financial history.<ref name=Vowinkel98/><ref name=Treaster00/> MetLife policyholders were asked to choose a cash or stock stake. This IPO made MetLife the most widely owned stock in the United States, and it raised MetLife's value to over $4 billion.<ref name=Healy99>{{cite news |title=MetLife IPO plan outshines Hancock's |author=Beth Healy |url=http://www.highbeam.com/doc/1G1-57806512.html |work=The Boston Herald |date=25 November 1999 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-57806512.html |archivedate=9 September 2015 |df= }}</ref><ref name=Bridger99>{{cite news |title=MetLife's Policyholders to get cash or stock in public offering |author=Chet Bridger |url=http://www.highbeam.com/doc/1P2-23151221.html |work=The Buffalo News |date=10 December 1999 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1P2-23151221.html |archivedate=9 September 2015 |df= }}</ref> By 2000, MetLife's reported number of policyholders had risen to 11 million,<ref name=Bridger99/> and that year it had become the United States' number one life insurer, surpassing Prudential, according to ''[[The New York Times]]''.<ref name=Times00>{{cite news |title=MetLife Posts Gain in Quarterly Earnings |url=https://www.nytimes.com/2000/05/10/business/metlife-posts-gain-in-quarterly-earnings.html |work=The New York Times |date=10 May 2000 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150104105019/http://www.nytimes.com/2000/05/10/business/metlife-posts-gain-in-quarterly-earnings.html |archivedate=4 January 2015 |df= }}</ref>
* 2000 - $470 million voice and data network management deal with AT&T Solutions.<ref name=Pappalardo00>{{cite news |title=MetLife jumps on outsourcing bandwagon |author=Denis Pappalardo |url=http://www.highbeam.com/doc/1G1-68369325.html |work=Network World |date=18 December 2000 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-68369325.html |archivedate=9 September 2015 |df= }}</ref>
* 2001 - acquired Grand Bank of [[Kingston, New Jersey]], which was renamed MetLife Bank.<ref name=Gjertsen00>{{cite news |title=MetLife has big plans for one-branch bank |author=Lee Ann Gjersten |url=http://www.highbeam.com/doc/1G1-64334609.html |work=American Banker |date=17 August 2000 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-64334609.html |archivedate=9 September 2015 |df= }}</ref><ref name=Jill01>{{cite news |title=Banks and insurers slowly converge |author=Jill Elswick |url=http://www.highbeam.com/doc/1G1-73881294.html |work=Employee Benefit News |date=1 May 2001 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-73881294.html |archivedate=9 September 2015 |df= }}</ref>
* 2001 - invested $1 billion in the United States stock market during 2001, immediately after the [[September 11 attacks|September 11th terrorist attacks]].<ref name=MetLifeHistory>{{cite web |url=https://www.metlife.com/about/corporate-profile/metlife-history/supporting-country-and-community/index.html |title=MetLife History: Supporting Country and Community |date= |work= |publisher=MetLife |accessdate=13 July 2015 |deadurl=yes |archiveurl=https://web.archive.org/web/20150714150859/https://www.metlife.com/about/corporate-profile/metlife-history/supporting-country-and-community/index.html |archivedate=14 July 2015 |df= }}</ref>
* 2005 - acquired [[Citigroup]]’s Travelers Life & Annuity and all of Citigroup’s international insurance businesses for $11.8 billion.<ref name="Augusturms10">{{cite news|title = AIG Sells Alico Health Insurance Unit to MetLife for $15.5B|author = Augustums|url = http://www.huffingtonpost.com/2010/03/08/aig-alico-sale-profitabe-_n_489655.html|work = The Huffington Post: Business|date = 1 May 2010|accessdate = 25 February 2015|first = Ieva M.|deadurl = no|archiveurl = https://web.archive.org/web/20150714131231/http://www.huffingtonpost.com/2010/03/08/aig-alico-sale-profitabe-_n_489655.html|archivedate = 14 July 2015|df = }}</ref><ref name=Ramirez05>{{cite news |title=MetLife Sells 2nd Building, a Landmark on Park Ave. |author=Anthony Ramirez |url=https://query.nytimes.com/gst/fullpage.html?res=9901E5DA113FF931A35757C0A9639C8B63 |work=The New York Times |date=2 April 2005 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150203031158/http://query.nytimes.com/gst/fullpage.html?res=9901E5DA113FF931A35757C0A9639C8B63 |archivedate=3 February 2015 |df= }}</ref> At the time of the deal, which was completed on July 1, 2005, the Travelers acquisition made MetLife the largest individual life insurer in North America based on sales.<ref name=Travelers_05>{{cite news|last=Wenske|first=Paul|title=Midday Business Report: Survey says ID theft on rise|newspaper=The Kansas City Star|date=1 July 2005}}</ref>
* 2006 - opened joint-venture insurance company in [[Shanghai]], in May 2006.<ref name=Hongmei06>{{cite news |title=Have you met the new MetLife today? |author=Song Hongmei |url=http://www.chinadaily.com.cn/bizchina/2006-05/24/content_599481.htm |work=China Daily |date=24 May 2006 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150714132414/http://www.chinadaily.com.cn/bizchina/2006-05/24/content_599481.htm |archivedate=14 July 2015 |df= }}</ref><ref name=Chen07>{{cite news |title=U.S. MetLife says to partner Bank of Shanghai |author=George Chen |url=https://www.reuters.com/article/2007/04/10/idUSSHA29990420070410 |work=Reuters |date=10 April 2007 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150714120302/http://www.reuters.com/article/2007/04/10/idUSSHA29990420070410 |archivedate=14 July 2015 |df= }}</ref>
* 2006 - sold [[Stuyvesant Town–Peter Cooper Village|Peter Cooper Village, or Stuyvesant Town]], the largest apartment complexes in [[New York City]] at the time, for $5.4 billion.<ref name=Carmiel12>{{cite news |title=MetLife Says It Reached Accord With Stuyvesant Tenants |author=Oshrat Carmiel |url=https://www.bloomberg.com/news/articles/2012-03-02/metlife-says-it-reaches-accord-in-principle-with-stuyvesant-town-tenants |work=Bloomberg Business |date=2 March 2012 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150808215954/http://www.bloomberg.com/news/articles/2012-03-02/metlife-says-it-reaches-accord-in-principle-with-stuyvesant-town-tenants |archivedate=8 August 2015 |df= }}</ref><ref name=Bagli12>{{cite news |title=$68.7 Million Settlement on Stuyvesant Town Rents |author=Charles Bagli |url=https://www.nytimes.com/2012/11/30/nyregion/68-7-million-settlement-on-stuyvesant-town-rents.html?_r=0 |work=The New York Times |date=29 November 2012 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20121203055037/http://www.nytimes.com/2012/11/30/nyregion/68-7-million-settlement-on-stuyvesant-town-rents.html?_r=0 |archivedate=3 December 2012 |df= }}</ref> MetLife had developed the apartment complexes between 1945 and 1947, to house veterans returning home from serving in [[World War II]].<ref name=Henderson14>{{cite news |title=Mortgage Observer: Old New York: Stuyvesant Town-Peter Cooper Village |author=Jennifer Henderson |url=http://commercialobserver.com/2014/09/old-new-york-stuyvesant-town-peter-cooper-village/ |work=Commercial Observer |date=15 September 2014 |accessdate=26 February 2015 |deadurl=no |archiveurl=http://archive.wikiwix.com/cache/20150226133715/http://commercialobserver.com/2014/09/old-new-york-stuyvesant-town-peter-cooper-village/ |archivedate=26 February 2015 |df= }}</ref>
* 2010 - bought [[American Life Insurance Company]] from [[American International Group|AIG]] for {{Currency|15.5 billion}}.<ref name=Augusturms10/>
* 2011 - sold MetLife bank to [[GE Capital]], exiting banking business.<ref>{{cite news
|publisher = Forbes
|url = https://www.forbes.com/sites/steveschaefer/2011/12/27/metlife-ditches-bank-business-sells-7-5b-in-deposits-to-ge-capital/
|author = Schaefer, Steve
|date = 2011-12-27
|title = Metlife ditches bank business, sells $7.5B in deposits to GE Capital
|deadurl = no
|archiveurl = https://web.archive.org/web/20180206002840/https://www.forbes.com/sites/steveschaefer/2011/12/27/metlife-ditches-bank-business-sells-7-5b-in-deposits-to-ge-capital/
|archivedate = 2018-02-06
|df =
}}</ref>
===Current era===
From 2004 to 2011, MetLife continued to hold its position as the largest life insurer in the United States.<ref name="Frye11" /><ref name=Lazarus04>{{cite news |title=MetLife spreads it around |author=David Lazarus |url=http://www.sfgate.com/business/article/MetLife-spreads-it-around-2789970.php |work=San Francisco Gate |date=27 February 2004 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20141206084730/http://www.sfgate.com/business/article/MetLife-spreads-it-around-2789970.php |archivedate=6 December 2014 |df= }}</ref> The company had $2.5 trillion in policies written, $350 billion in assets under management, over 12 million customers in the United States, 8 million customers outside the United States, and a net income in 2003 of $2.2 billion.<ref name=Lazarus04/> That year, ''[[Barron's (newspaper)|Barron's]]'' reported that 13 million American households owned at least one product from MetLife.<ref name=Lazo04>{{cite news |title=MetLife Double-Play |author=Shirley A. Lazo |url=http://online.barrons.com/articles/SB109667490187534255?tesla=y |work=Barron's |date=4 October 2004 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150714124444/http://online.barrons.com/articles/SB109667490187534255?tesla=y |archivedate=14 July 2015 |df= }}</ref>
MetLife named [[Bob Benmosche|Robert H. Benmosche]] as chairman and CEO in July 1999. Benmosche occupied the position until 2006, when he was replaced by [[C. Robert Henrikson]].<ref name="Frye11">{{cite news |title=MetLife Promotes Investment Manager Kandarian to Chief Executive |author=Andrew Frye |url=https://www.bloomberg.com/news/articles/2011-03-21/metlife-board-names-kandarian-to-replace-henrikson-at-helm-of-u-s-insurer |work=Bloomberg Business |date=21 March 2011 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150808220004/http://www.bloomberg.com/news/articles/2011-03-21/metlife-board-names-kandarian-to-replace-henrikson-at-helm-of-u-s-insurer |archivedate=8 August 2015 |df= }}</ref><ref name=Hovenisian05>{{cite news |title=Travelers May Be Heavy Baggage |author=Mara Der Hovenisian |url=https://www.bloomberg.com/bw/stories/2005-06-05/travelers-may-be-heavy-baggage |work=BloombergBusiness |date=5 June 2005 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150808215933/http://www.bloomberg.com/bw/stories/2005-06-05/travelers-may-be-heavy-baggage |archivedate=8 August 2015 |df= }}</ref><ref name="IJ05">{{cite news|title = Henrikson to Succeed Benmosche as MetLife CEO|url = http://www.insurancejournal.com/news/national/2005/04/28/54343.htm|work = Insurance Journal|date = 28 April 2005|accessdate = 25 February 2015|publisher = Wells Media Group|volume = 93|issue = 23|edition = West|issn = 0020-4714|deadurl = no|archiveurl = https://web.archive.org/web/20150714124621/http://www.insurancejournal.com/news/national/2005/04/28/54343.htm|archivedate = 14 July 2015|df = }}</ref>
The company's sales grew 11.5% between 2008 and 2009, despite the [[Great Recession in the United States|national recession]].<ref name=Galentine10>{{cite news |title='Bread and butter products' help vendors outlast recession |author=Elizabeth Galentine |url=http://www.highbeam.com/doc/1G1-222703115.html |work=Employee Benefit News |date=24 March 2010 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150909014019/http://www.highbeam.com/doc/1G1-222703115.html |archivedate=9 September 2015 |df= }}</ref> In 2011, CEO [[C. Robert Henrikson|Robert Henrikson]] was replaced by [[Steven A. Kandarian]], who had overseen the company's "{{Currency|450 billion}} investment portfolio" as [[chief investment officer]].<ref name="Frye11"/> Henrikson remained the company's chairman to the end of 2011, at which point he reached the company's [[mandatory retirement age]].<ref name="Frye11"/>
In 2015, MetLife was ranked as number one on ''Fortune'' magazine's list of World's Most Admired Companies in the Insurance: Life and Health category.<ref name=Fortunelist>{{cite web |url=http://fortune.com/worlds-most-admired-companies/metlife-100000/ |title=World's Most Admired Companies |date=2015 |work= |publisher=Fortune Magazine |accessdate=24 March 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150302054431/http://fortune.com/worlds-most-admired-companies/metlife-100000/ |archivedate=2 March 2015 |df= }}</ref>
In the summer of 2017, MetLife plans to add a third office building of 255,000 square feet at its [[Cary, North Carolina]] Global Technology Campus, giving the company a total of 655,000 square feet at a location which has over 1,000 employees in such areas as engineering, software and technology. This plan was the result of North Carolina awarding the company $94 million in incentives in 2013 for creating over 2,600 jobs, half in Cary and half in [[Charlotte]].<ref>{{cite news|url=http://www.newsobserver.com/news/business/article151939037.html#storylink=cpy|title=MetLife to build third tower in Cary, add to 1,000-plus workforce|last=Murawski|first=John|work=News & Observer]]|date=22 May 2017|accessdate=22 May 2017}}</ref>
==="Too big to fail"===
In 2012, MetLife failed the Federal Reserve’s (the Fed's) [[Comprehensive Capital Analysis and Review]] stress test, intended to predict the potential failure of the company in a recession. The Fed stated that the minimum total [[Capital adequacy ratio|risk-based capital ratio]] should be 8% and it estimated MetLife's ratio at 6%. The company had requested approval for a {{Currency|2 billion}} [[share repurchase]] to prop up the stock price, along with an increased dividend.<ref>{{cite news
|url = https://www.forbes.com/sites/greatspeculations/2012/03/14/metlife-fumes-as-it-fails-fed-stress-test/
|title = MetLife fumes as it fails Fed stress test
|publisher = Forbes
|date = 2012-03-14
|deadurl = no
|archiveurl = https://web.archive.org/web/20180206004456/https://www.forbes.com/sites/greatspeculations/2012/03/14/metlife-fumes-as-it-fails-fed-stress-test/
|archivedate = 2018-02-06
|df =
}}</ref> Because MetLife owned MetLife Bank, it was subject to stricter financial regulation. To escape that level of regulation, MetLife announced the sale of its banking unit to [[GE Capital]].<ref>{{cite web|url=http://www.insurancejournal.com/news/national/2011/12/27/228789.htm|title=MetLife to Sell Bank Unit to GE Capital|date=27 December 2011|publisher=|accessdate=17 June 2015|deadurl=no|archiveurl=https://web.archive.org/web/20150924042700/http://www.insurancejournal.com/news/national/2011/12/27/228789.htm|archivedate=24 September 2015|df=}}</ref><ref>{{cite news | url=http://articles.latimes.com/2013/jan/14/business/la-fi-mo-metlife-ge-capital-bank-deposits-20130114 | work=Los Angeles Times | first=Jim | last=Puzzanghera | title=MetLife gets out of banking business, sells deposits to GE Capital | date=14 January 2013 | deadurl=no | archiveurl=http://archive.wikiwix.com/cache/20130914222619/http://articles.latimes.com/2013/jan/14/business/la-fi-mo-metlife-ge-capital-bank-deposits-20130114 | archivedate=14 September 2013 | df= }}</ref> On November 2, 2012, MetLife said it was selling its {{Currency|70 billion}} [[mortgage]] servicing business to [[JPMorgan Chase]] for an undisclosed amount.<ref>{{cite news|url=http://www.cbsnews.com/8301-505123_162-57544635/metlife-bank-to-sell-$70b-mortgage-servicing-portfolio-to-jpmorgan-chase/|title=MetLife Bank to sell $70B mortgage servicing portfolio to JPMorgan Chase|work=CBS/AP|deadurl=no|archiveurl=https://web.archive.org/web/20121105102919/http://www.cbsnews.com/8301-505123_162-57544635/metlife-bank-to-sell-$70b-mortgage-servicing-portfolio-to-jpmorgan-chase/|archivedate=2012-11-05|df=}}</ref> Both sales were part of its strategy to focus on the [[insurance]] side of its business.
The attempt to escape "[[too big to fail]]" regulation was not successful. In September 2014, the United States government observed the [[Dodd–Frank Wall Street Reform and Consumer Protection Act|2010 Dodd-Frank financial reform law]] by proposing the application of an official label to MetLife as "[[Systemically important financial institution|systemically important]]" to the American economy.<ref name=Garcia15>{{cite news |title=MetLife faces challenge to overturn ‘systemically important’ designation |author=Eric Garcia |url=http://www.marketwatch.com/story/metlife-faces-challenge-to-overturn-systemically-important-designation-2015-01-13 |work=Market Watch |date=13 January 2015 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150214043004/http://www.marketwatch.com/story/metlife-faces-challenge-to-overturn-systemically-important-designation-2015-01-13 |archivedate=14 February 2015 |df= }}</ref> If implemented, MetLife would be subject to different sets of rules and regulations, with increased oversight from the [[Federal Reserve System|Federal Reserve]].<ref name=Garcia15/><ref name=Dealbook14>{{cite news |title=MetLife Formally Challenges ‘Systemically Important’ Designation |author=Andrew Ross Sorkin |url=https://dealbook.nytimes.com/2014/10/03/metlife-formally-challenges-designation-as-systemically-important/ |work=The New York Times: DealBook |date=3 October 2014 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20141029021955/http://dealbook.nytimes.com/2014/10/03/metlife-formally-challenges-designation-as-systemically-important/ |archivedate=29 October 2014 |df= }}</ref> The company appealed this proposal in November 2014.<ref name=McGrane15>{{cite news |title=MetLife Suit Sets up Battle Over Regulation |author=Victoria McGrane |url=https://www.wsj.com/articles/metlife-to-challenge-systemically-important-tag-1421152441 |work=The Wall Street Journal |date=14 January 2015 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150225060111/http://www.wsj.com/articles/metlife-to-challenge-systemically-important-tag-1421152441 |archivedate=25 February 2015 |df= }}</ref> In December 2014, federal regulators decided that MetLife required the special regulations reserved for financial companies and organizations deemed "systemically important," or "too big to fail".<ref name=Steve14>{{cite news |title=MetLife Plans to Fight 'Systemically Important' Designation |author=Steve Schaefer |url=https://www.forbes.com/sites/steveschaefer/2014/09/04/metlife-tagged-with-systemically-important-designation/ |work=Forbes |date=4 September 2014 |accessdate=25 February 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150601034409/http://www.forbes.com/sites/steveschaefer/2014/09/04/metlife-tagged-with-systemically-important-designation/ |archivedate=1 June 2015 |df= }}</ref> MetLife announced in January 2015 that it would file a lawsuit against the [[District of Columbia]] to overturn the federal regulators' decision,<ref name=Garcia15/> thus becoming the first nonbank to challenge such a decision.<ref name=":1" /> Three other nonbank companies have been designated as "systemically important": [[American International Group|AIG]], [[General Electric]] and [[Prudential Financial|Prudential]].<ref name="Steve14" /><ref name=":1" /> MetLife continued to litigate this issue as of mid-2015, with the [[United States Department of Justice|US Department of Justice]] asking that their challenge be dismissed.<ref name=":1">{{cite news|url = https://www.bloomberg.com/news/articles/2015-05-08/u-s-asks-judge-to-throw-out-metlife-s-too-big-to-fail-lawsuit|date = 8 May 2015|title = US asks judge to throw out MetLife's "too big to fail" lawsuit|last = Zajac|first = Andrew|last2 = Katz|first2 = Ian|agency = Bloomberg Business News|deadurl = no|archiveurl = https://web.archive.org/web/20160729172324/http://www.bloomberg.com/news/articles/2015-05-08/u-s-asks-judge-to-throw-out-metlife-s-too-big-to-fail-lawsuit|archivedate = 29 July 2016|df = }}</ref>
===Fines===
On August 7, 2012, it was announced that MetLife will pay $3.2 million in fines after the [[Federal Reserve]] charged it used unsafe and unsound practices in handling its mortgage servicing and foreclosure operations.<ref>{{cite web|last=Schroeder|first=Peter|title=MetLife fined $3.2 million for mortgage servicing problems|url=http://thehill.com/blogs/on-the-money/banking-financial-institutions/242495-metlife-fined-32-million-for-mortgage-servicing-problems|publisher=The Hill|accessdate=7 August 2012|deadurl=yes|archiveurl=https://web.archive.org/web/20120815065752/http://thehill.com/blogs/on-the-money/banking-financial-institutions/242495-metlife-fined-32-million-for-mortgage-servicing-problems|archivedate=15 August 2012|df=}}</ref>
In 2014, MetLife paid $23 million to settle multiple lawsuits over [[junk fax]] operations used to generate leads for life insurance sales.<ref>{{cite news
|url = https://www.wsj.com/articles/metlife-to-pay-23-million-to-settle-blast-faxing-litigation-1407432583
|date = 2014-08-07
|author = Scism, Leslie
|title = MetLife Settles After Fax Meets Friction
|publisher = Wall Street Journal
|deadurl = no
|archiveurl = https://web.archive.org/web/20170623155546/https://www.wsj.com/articles/metlife-to-pay-23-million-to-settle-blast-faxing-litigation-1407432583
|archivedate = 2017-06-23
|df =
}}</ref>
{{quote box | source=''U.S. Attorney John Walsh'' | quote="MetLife Bank took advantage of the FHA insurance program by knowingly turning a blind eye to mortgage loans that did not meet basic underwriting requirements, and stuck the FHA and taxpayers with the bill when those mortgages defaulted." }}
In 2015, MetLife Home Loans LLC paid $123.5 million to the United States Department of Justice to resolve allegations it knowingly made mortgages insured by the United States government that didn’t meet federal underwriting requirements.<ref>{{cite news |url=https://www.wsj.com/articles/metlife-unit-to-pay-123-5-million-to-resolve-mortgage-lending-allegations-1424897993 |publisher=Wall Street Journal |title=MetLife Unit to Pay $123.5 Million to Resolve Mortgage-Lending Allegations |author1=Scism, Leslie |author2=Light, Joe |date=2015-02-25 |deadurl=no |archiveurl=https://web.archive.org/web/20180206073537/https://www.wsj.com/articles/metlife-unit-to-pay-123-5-million-to-resolve-mortgage-lending-allegations-1424897993 |archivedate=2018-02-06 |df= }}</ref>
== Finances ==
For the fiscal year 2017, MetLife reported earnings of US$3.907 billion, with an annual revenue of US$62.308 billion, an increase of 2.5% over the previous fiscal cycle. MetLife's shares traded at over $47 per share, and its market capitalization was valued at over US$39.4 billion in October 2018.<ref>{{Cite web|url=https://www.macrotrends.net/stocks/charts/MET/metlife/revenue|title=MetLife Revenue 2006-2018 {{!}} MET|website=www.macrotrends.net|access-date=2018-10-31}}</ref>
{| class="wikitable float-left" style="text-align: right;"
!Year
!Total Assets<br />in mil. USD$
!Revenue<br />in mil. USD$
!Net income<br />in mil. USD$
!Price per Share<br />in USD$
!Employees
|-
|2005
|481,645
|44,629
|4,651
|29.66
|
|-
|2006
|527,715
|42,929
|6,159
|35.34
|
|-
|2007
|559,149
|47,152
|4,180
|43.44
|
|-
|2008
|501,678
|50,982
|3,084
|34.37
|
|-
|2009
|539,314
|40,657
| −2,368
|21.81
|
|-
|2010
|730,906
|52,247
| 2,545
|28.61
|
|-
|2011
|796,226
|70,241
|6,155
|28.20
|
|-
|2012
|836,781
|68,150
|1,202
|25.21
|
|-
|2013
|885,296
|68,199
|3,246
|33.88
|65,000
|-
|2014
|902,337
|73,316
|6,187
|41.44
|68,000
|-
|2015
|877,933
|61,343
| 5,215
|41.25
|69,000
|-
|2016
|898,764
|60,787
|747
|37.28
|58,000
|-
|2017
|719,892
|62,308
|3,907
|47.03
|49,000
|}
== Products and services==
{{advert|date=September 2013}}
[[File:Metro Life Hall Recs Palmer Av jeh.JPG|thumb|MetLife Hall of Records, Yonkers, New York.]]
{{As of|2010}}, MetLife had a "diverse product mix" which included insurance ([[Home insurance|home]], [[Car insurance|car]] and [[Life insurance|life]]), [[Variable annuity|variable life annuities]] and [[Structured Settlements|structured settlements]], [[commercial mortgages]] and [[Commercial mortgage-backed security|securities backed by commercial mortgages]], and [[sovereign debt]].<ref name="MexEng_103">{{cite journal|last = Williams|first = Christopher|title = MetLife Gains Altitude|journal = Barron's|date = 19 June 2010|url = http://online.barrons.com/article/SB50001424052970203296004575307113048786930.html|accessdate = 14 March 2011|deadurl = no|archiveurl = https://web.archive.org/web/20101220062854/http://online.barrons.com/article/SB50001424052970203296004575307113048786930.html|archivedate = 20 December 2010|df = }}</ref>
===Life insurance===
MetLife’s individual [[life insurance]] products and services comprise [[term life insurance]] and several types of [[permanent life insurance]], including whole life, universal life, and final expense whole life insurance.<ref>{{cite web|title=Whole Life Insurance|url=https://www.metlife.com/individual/insurance/life-insurance/whole-life-insurance.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141213013828/https://www.metlife.com/individual/insurance/life-insurance/whole-life-insurance.html|archivedate=13 December 2014|df=}}</ref><ref>{{cite web|title=Term Life Insurance|url=https://www.metlife.com/individual/insurance/life-insurance/term-life-insurance.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105015221/https://www.metlife.com/individual/insurance/life-insurance/term-life-insurance.html|archivedate=5 November 2014|df=}}</ref> These services vary in regards to the duration and amount of coverage available and whether a medical exam is required for coverage. The company also offers group life insurance, provided through employers, which consists of term life, permanent life, and accidental death and dismemberment coverage.<ref name=InsuranceProducts>{{cite web|title=Insurance|url=https://www.metlife.com/individual/insurance/life-insurance/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141110045752/https://www.metlife.com/individual/insurance/life-insurance/index.html|archivedate=10 November 2014|df=}}</ref><ref name=GroupInsuranceProducts>{{cite web|title=Group Life Insurance|url=https://www.metlife.com/individual/employee-benefits/group-life-insurance/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141129033338/https://www.metlife.com/individual/employee-benefits/group-life-insurance/index.html|archivedate=29 November 2014|df=}}</ref> MetLife is the largest life insurer in the United States, based on life insurance in-force.<ref name="Ninety"/><ref name=MexEng_103/>
===Dental===
MetLife offers group dental benefit plans for individuals, employees, retirees and their families and provides dental plan administration for over 20 million people.<ref name=TwentyMillionDental>{{cite journal|title=MetLife Announces the New MET Series for its Dental Health Maintenance Organization DHMO Plans|journal=Health & Medicine Week|date=October 2010|pages=1192}}</ref><ref name=DentalCoverage>{{cite web|title=Employee Benefits|url=http://www.metlife.com/individual/employee-benefits/index.html?WT.ac=GN_individual_employee-benefits|publisher=MetLife|accessdate=14 March 2011|deadurl=no|archiveurl=https://web.archive.org/web/20110317065811/http://www.metlife.com/individual/employee-benefits/index.html?WT.ac=GN_individual_employee-benefits|archivedate=17 March 2011|df=}}</ref> Plans include MetLife’s Preferred Dentist Program (PPO) and the SafeGuard DHMO (available for both individuals and employees in CA, FL, TX, NJ and NY.). As of May 2010, MetLife’s dental [[Preferred provider organization|PPO]] network included over 135,000 participating dentist locations nationwide while the dental [[HMO]] network included more than 13,000 participating dentist locations in [[California]], [[Florida]] and [[Texas]].<ref name=Dental>{{cite journal|title=Be Better Informed Than the Tooth Fairy|journal=California Broker|date=July 2010|url=http://www.calbrokermag.com/surveys/dental-survey/|accessdate=14 March 2011|deadurl=yes|archiveurl=https://web.archive.org/web/20101224201618/http://www.calbrokermag.com/surveys/dental-survey/|archivedate=24 December 2010|df=}}</ref> MetLife also administers dental continuing education program for dentists and allied health care professionals, which are recognized by the [[American Dental Association]] (ADA) and the [[Academy of General Dentistry]] (AGD).<ref name=ADA>{{cite journal|title=MetLife Adds 5 Quality Resource Guides to Dental Continuing Education Program|journal=Health & Beauty Close-Up|date=September 2010}}</ref>
===Disability===
MetLife provides disability products for individuals as well as employee and association groups who receive them through their employer.<ref name=Disability10K>{{cite web|title=MetLife, Inc. Form 10-K for Fiscal Year Ended December 31, 2010|url=https://www.sec.gov/Archives/edgar/data/1099219/000095012311018077/y87657e10vk.htm|work=The United States Securities Exchange Commission|accessdate=3 March 2011|pages=6|deadurl=no|archiveurl=https://web.archive.org/web/20110629091230/http://www.sec.gov/Archives/edgar/data/1099219/000095012311018077/y87657e10vk.htm|archivedate=29 June 2011|df=}}</ref><ref>{{cite web|title=Disability Insurance|url=https://www.metlife.com/individual/insurance/disability-insurance/index.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141226092514/https://www.metlife.com/individual/insurance/disability-insurance/index.html|archivedate=26 December 2014|df=}}</ref> For individuals, the company’s individual disability income insurance can replace a portion of lost income if an individual is unable to work due to sickness or injury.<ref name=DisabilityInsurance>{{cite news|title=Protect Your Income With Disability Insurance|newspaper=Michigan Chronicle|date=1 March 2005}}</ref> MetLife offers several individual disability income policies, including MetLife Income Guard, OMNI Advantage, OMNI Essential, Business Overhead Expense, and Buy-Sell.<ref>{{cite web|title=Disability Insurance|url=https://www.metlife.com/individual/insurance/disability-insurance/individual-disability-insurance.html|website=MetLife|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141129033344/https://www.metlife.com/individual/insurance/disability-insurance/individual-disability-insurance.html|archivedate=29 November 2014|df=}}</ref> The policy options provided by the company vary in terms of eligibility and the provided coverage. For groups, MetLife offers short term [[disability insurance]] and long term disability insurance.<ref>{{cite web|title=Group Disability Insurance|url=https://www.metlife.com/individual/employee-benefits/group-disability/index.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141129033336/https://www.metlife.com/individual/employee-benefits/group-disability/index.html|archivedate=29 November 2014|df=}}</ref> Short term disability insurance is structured to replace a portion of an individual’s income during the initial weeks of a disabling illness or accident.<ref>{{cite web|title=Short Term Disability Insurance|url=https://www.metlife.com/individual/employee-benefits/group-disability/group-short-term-disability.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141203154445/https://www.metlife.com/individual/employee-benefits/group-disability/group-short-term-disability.html|archivedate=3 December 2014|df=}}</ref> Long term disability Insurance serves to replace a portion of an individual’s income during an extended period of a disabling [[illness]] or [[accident]].<ref name=DisabilityInsuranceProducts>{{cite web|title=Group Disability Insurance|url=https://www.metlife.com/individual/employee-benefits/group-disability/index.html|publisher=MetLife|accessdate=14 March 2011|deadurl=no|archiveurl=https://web.archive.org/web/20110306045218/http://www.metlife.com/individual/employee-benefits/group-disability/index.html|archivedate=6 March 2011|df=}}</ref><ref>{{cite web|title=Long Term Disability Insurance|url=https://www.metlife.com/individual/employee-benefits/group-disability/group-long-term-disability-insurance.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141213012555/https://www.metlife.com/individual/employee-benefits/group-disability/group-long-term-disability-insurance.html|archivedate=13 December 2014|df=}}</ref> The company also maintains an absence management product which allows employers to track and manage both planned and unplanned employee absences. The product, which MetLife calls MetLife Total Absence Management, is structured for businesses with 1,000 or more employees.<ref name= TotalAbsence>{{cite press release |title=MetLife Launches Enhanced Absence Management Solution|publisher=Datamonitor NewsWire|date=30 January 2009}}</ref>
===Annuities===
MetLife is among the largest providers of [[Annuity (US financial products)|annuities]] in the world, recording $22.4 billion in sales during 2009.<ref name=Numberoneann>{{cite news|title=At The Bell|newspaper=Investment News|date=1 March 2010}}</ref> MetLife offers annuities which consist of fixed annuities, variable annuities, deferred annuities and immediate annuities.<ref name=AnnuitiesProducts>{{cite web|title=Annuities|url=https://www.metlife.com/individual/investment-products/annuities/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105014340/https://www.metlife.com/individual/investment-products/annuities/index.html|archivedate=5 November 2014|df=}}</ref> In 1921, MetLife was the first company to issue a group annuity contract.<ref name=FirstAnnuity>{{cite press release|title=What a Difference a Year Makes: Market Volatility Leads to Broadened View of U.S. Pension Risks, According to MetLife Study|publisher=Business Wire|date=23 February 2010}}</ref> More recently in 2004, it was the first insurer to introduce a longevity insurance product.<ref name=LongevityInsurance>{{cite journal|last=Adler|first=David|title=Fixing up SPEND DOWN: New plans and products are improving spend-down options for retirees|journal=Employee Benefit News|date=September 2006}}</ref> As of December 31, 2009, MetLife globally managed group annuity assets of $60 billion with $34 billion of transferred pension liabilities and provided benefit payments to over 600,000 annuitants per month.<ref name=AnnuityInformation>{{cite web|title=Investments and Annuities|url=https://www.metlife.com/individual/investment-products/annuities/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105014340/https://www.metlife.com/individual/investment-products/annuities/index.html|archivedate=5 November 2014|df=}}</ref>
===Auto & Home ===
MetLife Auto & Home is the brand name for MetLife’s nine affiliate personal lines insurance companies.<ref name=AutoHomeBrand>{{cite journal|last=Whitney|first=Sally|title=High-speed Merge|journal=Best's Review (Prop/Casualty)|date=October 1999|volume=100|pages=30–37}}</ref> Collectively these companies offer personal lines property and casualty insurance policies in all 50 states and the District of Columbia.<ref name= PRN_05>{{cite press release|title=FileNet Announces 2005 Innovation Award Finalists|publisher=PR Newsire|date=3 November 2005}}</ref> The flagship company in the MetLife Auto & Home group, Metropolitan Property and Casualty Insurance Company, was founded in 1972.<ref name= AutoHomeBrand/> MetLife Auto & Home companies presently have over 2.7 million active policies and service 58 of the Fortune 100 companies.<ref name=Teens_10>{{cite journal|title=Life Insurance; Tips for Staying Cool When Your Teen Starts Asking to Drive|journal=Insurance Business Weekly|date=July 2010|pages=40}}</ref><ref name=FortuneEBN>{{cite journal|last=Galentine|first=Elizabeth|title=Bread and Butter Products Help Vendors Outlast Recession|journal=Employee Benefit News Insurance|date=March 2010}}</ref>
MetLife's home insurance solutions include homeowners insurance, condo insurance, [[renters' insurance|renters insurance]], insurance for landlords, and mobile home insurance.<ref>{{cite web|title=Home Insurance|url=https://www.metlife.com/individual/insurance/home-insurance/index.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105015257/https://www.metlife.com/individual/insurance/home-insurance/index.html|archivedate=5 November 2014|df=}}</ref><ref>{{cite web|title=Renters Insurance|url=https://www.metlife.com/individual/insurance/home-insurance/renters-insurance.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141204043414/https://www.metlife.com/individual/insurance/home-insurance/renters-insurance.html|archivedate=4 December 2014|df=}}</ref> The available policies for MetLife's home insurance provide coverage for possessions, property damage from natural disaster or theft, and various legal expenses incurred resulting from injuries sustained on an individual's property.<ref>{{cite web|title=Homeowners Insurance|url=https://www.metlife.com/individual/insurance/home-insurance/homeowners-insurance.html|website=MetLife|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141129033349/https://www.metlife.com/individual/insurance/home-insurance/homeowners-insurance.html|archivedate=29 November 2014|df=}}</ref> The companies also sell RV, ATV, boat, mobile home, collectible vehicle, and motorcycle policies<ref>{{cite web|title=MetLife Insurance Coverage|url=https://www.metlife.com/individual/insurance/auto-insurance/quote.html|website=MetLife|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141129033506/https://www.metlife.com/individual/insurance/auto-insurance/quote.html|archivedate=29 November 2014|df=}}</ref> and offers flood insurance policies as a participant in the National Flood Insurance Program (NFIP), which is managed by the federal government.<ref name=Flood>{{cite news|last=Mcpherson|first=David|title=Insurance Adjusters Fan Out Across Gulf Coast|url=http://www.projo.com/business/content/projo_20050909_adj09x.788887a.html|accessdate=14 March 2011|newspaper=The Providence Journal|date=9 September 2005}}</ref><ref name=NFIP>{{cite web|title=Auto Insurance Coverage and Homeowners Claims|url=https://www.metlife.com/individual/insurance/auto-insurance/service-claims.html|accessdate=20 November 2014|newspaper=The Register-Guard|date=1 July 2007|deadurl=no|archiveurl=https://web.archive.org/web/20141129033341/https://www.metlife.com/individual/insurance/auto-insurance/service-claims.html|archivedate=29 November 2014|df=}}</ref> MetLife's various types of coverage for auto insurance include liability protection, collision and comprehensive coverage, personal injury protection, rental car coverage, and uninsured and underinsured motorists coverage.<ref>{{cite web|title=Individual and Group Auto Insurance Policies|url=https://www.metlife.com/individual/insurance/auto-insurance/index.html|website=MetLife|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105015116/https://www.metlife.com/individual/insurance/auto-insurance/index.html|archivedate=5 November 2014|df=}}</ref><ref>{{cite web|title=Group Auto Insurance|url=https://www.metlife.com/individual/insurance/auto-insurance/group.html|publisher=MetLife|accessdate=11 December 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141213013321/https://www.metlife.com/individual/insurance/auto-insurance/group.html|archivedate=13 December 2014|df=}}</ref> Through an arrangement with Hyatt Legal Plans, a subsidiary of MetLife, MetLife Auto & Home underwrites group legal plans in many states.<ref name=HyattLegal>{{cite news|last=Levy|first=Douglas|title=Prepaid Legal Plans Help Bolster Attorney's Practices|newspaper=Michigan Lawyers Weekly|date=21 June 2010}}</ref>
It was the first national insurer in the United States to offer identity-theft resolution services at no extra premium and as of 2012 continues to do so today in most United States states.<ref name=IDTheft>{{cite news|last=Edsall|first=Noel|title=New Coverage: ID Theft Insurance|url=https://www.npr.org/templates/story/story.php?storyId=4563985|accessdate=9 September 2010|newspaper=NPR|date=28 March 2005|deadurl=no|archiveurl=https://web.archive.org/web/20060717020515/http://www.npr.org/templates/story/story.php?storyId=4563985|archivedate=17 July 2006|df=}}</ref><ref name=ContinCoverage>{{cite journal|journal=Insurance Journal|date=April 2010|url=http://www.insurancejournal.com/news/national/2010/04/01/108597.htm|title=MetLife Auto & Home Adds Tax-Related Identity Theft Service|accessdate=14 March 2011|deadurl=no|archiveurl=https://web.archive.org/web/20100404071305/http://www.insurancejournal.com/news/national/2010/04/01/108597.htm|archivedate=4 April 2010|df=}}</ref> In 2010, MetLife Auto & Home began offering their GrandProtect plan in most states. This GrandProtect policy simplifies complex insurance needs by combining a client's home, valuable items, autos, RVs, and boats into one comprehensive policy package. The ultimate benefits to the consumer are having one bill, only one deductible, comprehensive coverage, and typically lower rates than trying to get each policy individually.<ref name=GrandProtect>{{cite web|title=Coverage from MetLife Auto and Home Insurance|url=https://www.metlife.com/individual/insurance/auto-insurance/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105015116/https://www.metlife.com/individual/insurance/auto-insurance/index.html|archivedate=5 November 2014|df=}}</ref>
===Other products===
MetLife’s products also include [[critical illness insurance]].<ref name=Criticalillness>{{cite news|last=Lisanti|first=Joseph|title=Going Beyond Disability Insurance|newspaper=Daily News (New York)|date=13 September 2010}}</ref> Financial services include fee-based financial planning, retirement planning, wealth management, 529 Plans, banking, and commercial and residential [[mortgages]].<ref name=Other>{{cite web|title=Investment Products|url=https://www.metlife.com/individual/investment-products/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=no|archiveurl=https://web.archive.org/web/20141105051818/https://www.metlife.com/individual/investment-products/index.html|archivedate=5 November 2014|df=}}</ref> The company also provides retirement plan and other financial services to healthcare, education, and not-for-profit organizations.<ref name=NonProfitRetirement>{{cite web|title=Retirement|url=https://www.metlife.com/brokers/retirement-and-benefit-planning/index.html|publisher=MetLife|accessdate=20 November 2014|deadurl=yes|archiveurl=https://web.archive.org/web/20141129033332/https://www.metlife.com/brokers/retirement-and-benefit-planning/index.html|archivedate=29 November 2014|df=}}</ref> The MetLife Center for Special Needs Planning is a group of planners which serve families and individuals with special needs.<ref name=SpecialNeeds>{{cite journal|title=Insurer Launches Special Needs Planning Center|journal=National Underwriter Life & Health/Financial Services|date=March 2010}}</ref> In 2014, MetLife launched MetLife Defender, a digital [[identity theft]] protection product.<ref>{{cite web|url=https://www.metlifedefender.com|archive-url=https://web.archive.org/web/20140427153513/https://www.metlifedefender.com/|dead-url=yes|archive-date=27 April 2014|title=Identity Theft Protection - MetLife Defender|work=MetLife Defender|accessdate=17 June 2015}}</ref>
== International presence ==
Outside of the United States, MetLife operates in Latin America, Europe, Asia’s Pacific region, and the Middle East, with leading market positions in Mexico, Japan, South Korea and Chile.<ref name="AlicoInternational_10"/>
On March 8, 2010, MetLife announced its intent to purchase the international leader life-insurance business, American Life Insurance Company (Alico), from [[American International Group]] (AIG). MetLife, which completed the deal on November 1, 2010, paid approximately $7.2 billion in cash and $9.0 billion in MetLife equity and other securities.<ref name=SalePrice>{{cite web|title=MetLife completes Alico acquisition in USD16bn cash-and-stock deal|url=http://www.tradingmarkets.com/news/stock-alert/aig_met_metlife-completes-alico-acquisition-in-usd16bn-cash-and-stock-deal-1271316.html|accessdate=15 March 2011}}{{dead link|date=September 2017 |bot=InternetArchiveBot |fix-attempted=yes }}</ref><ref name=GlobalWall>{{cite news|last=Scism|first=Leslie|title=MetLife 's CEO Completes His Quest --- Flush With Capital During The Crisis, the Insurer Had Its Pick of Deals, but Settled on Alico|newspaper=The Wall Street Journal|date=9 March 2010}}</ref> The securities portion of the deal consisted of 78.2 million shares of MetLife common stock, 6.9 million shares of contingent convertible preferred stock and 40 million equity units.<ref name=ALICOSTATS>{{cite press release|title=MetLife to Acquire American Life Insurance Company from American International Group for Approximately $15.5 Billion|url=http://www.thestreet.com/story/10906032/1/metlife-completes-acquisition-of-american-life-insurance-company.html|publisher=Business Wire|date=1 November 2010|accessdate=15 March 2011|deadurl=no|archiveurl=https://web.archive.org/web/20110717035234/http://www.thestreet.com/story/10906032/1/metlife-completes-acquisition-of-american-life-insurance-company.html|archivedate=17 July 2011|df=}}</ref> The values of the common and preferred stock were based on the closing price of MetLife’s common stock on October 29.<ref name=ALICOSTATS/> Upon completion of the purchase, MetLife became a leading competitor in [[Japan]], the world’s second-largest life insurance market, and moved into a top 5 market position in many high growth emerging markets in [[Central Europe|Central]] and [[Eastern Europe]], such as [[Romania]], [[the Middle East]] and [[Latin America]].<ref name="ALICOSTATS" /> The deal added 20 million customers to MetLife’s 70 million and according to ''Barron's'' more than doubled the percentage of operating profits that MetLife gets abroad to 40%.<ref name=MexEng_103/>
In India MetLife has an affiliate company ''India Insurance Company Limited (MetLife)'' which has operated in India since 2001. This company has its headquarters in Bangalore and Gurgaon and was jointly owned by MetLife and a few local Indian financial companies. In 2012 an agreement was made with local Indian bank, the [[Punjab National Bank]] to establish a strategic alliance and for it to take a 30% share in MetLife India.<ref>{{cite news |url=http://www.indianexpress.com/news/punjab-national-bank-acquires-30--stake-in-metlife-company-to-be-rebranded/1054584 |title=Punjab National Bank acquires 30% stake in Metlife, company to be re-branded |publisher=The Indian Express|date=Jan 4, 2013}}</ref> The state owned bank would in return sell MetLife insurance products in its branches
As of 2015, Julio Garcia-Villalon leads the Middle East & Africa regional business, which is headquartered in the [[Dubai International Financial Centre]] and has operated in the region since the 1950s.<ref>{{Cite news|url = https://www.highbeam.com/doc/1G1-436352668.html|title = MetLife Middle East & Africa Wins Life Insurance Company of the Year Award|last = Staff|date = 3 December 2015|work = Global Banking News|access-date = 20 December 2015|via = Highbeam Research|deadurl = no|archiveurl = https://web.archive.org/web/20160210105309/https://www.highbeam.com/doc/1G1-436352668.html|archivedate = 10 February 2016|df = }}</ref>
== MetLife Foundation ==
MetLife Foundation is MetLife's independent charitable and [[grant (money)|grant-awarding]] [[Foundation (nonprofit)|foundation]]. It was founded in 1976<ref name=Peralta15>{{cite news |title=MetLife Foundations donates $100,000 for women’s leadership program at UNCC |author=Katherine Peralta |url=http://www.charlotteobserver.com/news/business/article9282494.html |work=The Charlotte Observer |date=27 January 2015 |accessdate=15 May 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150803065236/http://www.charlotteobserver.com/news/business/article9282494.html |archivedate=3 August 2015 |df= }}</ref> and had provided over $650 million in grants by January 2015.<ref name=Peralta15/> The foundation has partnered with and donated to a variety of organizations, including [[Habitat for Humanity]] since 2010<ref name=Amedro08>{{cite news |title=New home means new life for family ; Residents of the newly completed Habitat for Humanity home put in sweat equity to qualify for it. |author=Kimberly Amedro |url=http://www.highbeam.com/doc/1P2-16950838.html |work=Dayton Daily News |date=1 August 2008 |accessdate=26 May 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20160108112719/https://www.highbeam.com/doc/1P2-16950838.html |archivedate=8 January 2016 |df= }}</ref> and the [[Martin Luther King, Jr. Memorial|Martin Luther King, Jr. National Memorial Project Foundation]] since 2008.<ref name=Curry11>{{cite news |title=Money and the MLK Memorial |author=George E. Curry |url=http://www.stlamerican.com/business/local_business/article_8d0eddfe-ce9a-11e0-b1a0-001cc4c002e0.html |work=The St. Louis American |date=25 August 2011 |accessdate=26 May 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20180511011222/http://www.stlamerican.com/business/local_business/article_8d0eddfe-ce9a-11e0-b1a0-001cc4c002e0.html |archivedate=11 May 2018 |df= }}</ref><ref name=Memorial08>{{cite news |title=MetLife raises cash for MLK Memorial |author= |url=http://www.bizjournals.com/atlanta/stories/2008/02/25/daily50.html |work=BizJournals |date=25 February 2008 |accessdate=11 June 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20080303155329/http://www.bizjournals.com/atlanta/stories/2008/02/25/daily50.html |archivedate=3 March 2008 |df= }}</ref> In 2013, the MetLife Foundation announced a new focus on [[financial inclusion]],<ref name=MFFI>{{cite web|url=https://www.metlife.com/about/corporate-responsibility/metlife-foundation/mission-and-vision/index.html|title=MetLife Foundation Mission and Vision|author=|date=|work=|publisher=MetLife|accessdate=28 May 2015|deadurl=yes|archiveurl=https://web.archive.org/web/20150906154008/https://www.metlife.com/about/corporate-responsibility/metlife-foundation/mission-and-vision/index.html|archivedate=6 September 2015|df=}}</ref> including educational programs on basic financial planning for disadvantaged children<ref name=Kashmir14>{{cite news |title=Rather Launches JK Bank-PNB Metlife Joint Initiative For Children |author= |url=http://www.kashmirobserver.net/news/local-news/rather-launches-jk-bank-pnb-metlife-joint-initiative-children |work=Kashmir Observer |date=7 August 2014 |accessdate=28 May 2015 |deadurl=yes |archiveurl=https://web.archive.org/web/20150925134614/http://www.kashmirobserver.net/news/local-news/rather-launches-jk-bank-pnb-metlife-joint-initiative-children |archivedate=25 September 2015 |df= }}</ref><ref name=ECT15>{{cite news |title=US NGO partners with MetLife to provide microfinance in UP |author= |url=http://articles.economictimes.indiatimes.com/2015-03-12/news/60048176_1_metlife-india-microfinance-inclusion |work= The Economic Times |date=12 March 2015 |accessdate=28 May 2015}}</ref> and financial services aimed at low-income communities.<ref name="ECT15"/><ref name=Moses15>{{cite news |title=A Foundation and Newspaper Team Up in a Global Push for Financial Inclusion |author=Sue-Lynn Moses |url=http://www.insidephilanthropy.com/home/2015/3/25/a-foundation-and-newspaper-team-up-in-a-global-push-for-fina.html |work=Inside Philanthropy |date=25 March 2015 |accessdate=28 May 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150327224459/http://www.insidephilanthropy.com/home/2015/3/25/a-foundation-and-newspaper-team-up-in-a-global-push-for-fina.html |archivedate=27 March 2015 |df= }}</ref><ref name=Cook15>{{cite news |title=Baby Steps Toward Home Ownership |author=Nancy Cook |url=http://www.nationaljournal.com/next-economy/solutions-bank/baby-steps-toward-home-ownership-20150220 |work=The National Journal |date=20 February 2015 |accessdate=28 May 2015 |deadurl=no |archiveurl=https://web.archive.org/web/20150601080936/http://www.nationaljournal.com/next-economy/solutions-bank/baby-steps-toward-home-ownership-20150220 |archivedate=1 June 2015 |df= }}</ref>
==Relationship with ''Peanuts''==
MetLife's use of comic strip characters, according to [[chief marketing officer]] Esther Lee, was intended "to make our company more friendly and approachable during a time when insurance companies were seen as cold and distant."<ref name=retools/>
MetLife licensed ''[[Snoopy]]'' and other ''[[Peanuts]]'' characters for promotional purposes from the [[Iconix Brand Group]], which owns the promotional rights to the works of [[Charles M. Schulz]]. In 2010, Iconix formed a joint venture with Schulz’s heirs (as Charles Schulz himself died in 2000), buying out [[E. W. Scripps]] Co. and [[United Features Syndicate]] for $175 million. MetLife is reported to pay $12 million per year to Iconix for licensing rights.<ref name="forbescb">{{cite news
|url = https://www.forbes.com/sites/abrambrown/2013/10/30/youre-an-old-brand-charlie-brown-the-80m-business-of-peanuts-needs-a-turnaround/
|publisher = Forbes
|date = 2013-10-30
|title = You're An Old Brand, Charlie Brown: The $80M Business Of Peanuts Needs A Turnaround
|author = Brown, Abram
|deadurl = no
|archiveurl = https://web.archive.org/web/20171214084023/https://www.forbes.com/sites/abrambrown/2013/10/30/youre-an-old-brand-charlie-brown-the-80m-business-of-peanuts-needs-a-turnaround/
|archivedate = 2017-12-14
|df =
}}</ref> Prior to the Iconix deal, MetLife had licensed the characters from other rights-holders.
The Peanuts-based campaign was developed by the advertising agency [[Young & Rubicam]]. MetLife also has used [[Foote Cone & Belding]] to develop Peanuts-related promotions.<ref name=Campaign1>{{cite news|last=Elliot|first=Stuart|title=Young & Rubicam holds onto a MetLife account amid a flurry of change and consolidation|url=https://www.nytimes.com/2000/12/20/business/media-business-advertising-young-rubicam-holds-onto-metlife-account-amid-flurry.html|accessdate=23 March 2011|newspaper=The New York Times|date=20 December 2000|deadurl=no|archiveurl=https://web.archive.org/web/20090412192551/http://www.nytimes.com/2000/12/20/business/media-business-advertising-young-rubicam-holds-onto-metlife-account-amid-flurry.html|archivedate=12 April 2009|df=}}</ref><ref name=Campaign2>{{cite news|last=Elliot|first=Stuart|title=Woodstock and Snoopy Answer Life's What-Ifs|url=https://www.nytimes.com/2006/06/21/business/media/21adco.html|accessdate=23 March 2011|newspaper=The New York Times|date=21 June 2006|deadurl=no|archiveurl=https://web.archive.org/web/20111109042003/http://www.nytimes.com/2006/06/21/business/media/21adco.html|archivedate=9 November 2011|df=}}</ref>
MetLife announced the end of its 31-year relationship with ''[[Peanuts]]'' on October 20, 2016. This decision resulted from the company's sale of its life insurance business to concentrate on corporate clients.<ref name=retools>{{cite news|url=http://www.journalnow.com/business/snoopy-and-peanuts-gang-are-cut-loose-by-metlife-as/article_d6ceb15e-96e4-11e6-a5f0-630e4a29c7c9.html|title=Snoopy and Peanuts gang are cut loose by MetLife as it retools business|agency=[[Associated Press]]|work=[[Winston-Salem Journal]]|date=20 October 2016|accessdate=20 October 2016}}</ref> MetLife's new blue and green logo was criticized for being a knock-off of comparison website Diffen.<ref name="campaignus">{{cite news|last1=Liffreing|first1=Ilyse|title=Coincidence or theft? MetLife's new logo is nearly identical to Diffen's|url=http://www.campaignlive.com/article/coincidence-theft-metlifes-new-logo-nearly-identical-diffens/1414205|accessdate=3 November 2016|publisher=Campaign US|date=1 November 2016|deadurl=no|archiveurl=https://web.archive.org/web/20161104020624/http://www.campaignlive.com/article/coincidence-theft-metlifes-new-logo-nearly-identical-diffens/1414205|archivedate=4 November 2016|df=}}</ref><ref name="nypostlogo">{{cite news|last1=Dugan|first1=Kevin|title=MetLife’s new logo looks awfully familiar|url=https://nypost.com/2016/11/02/metlifes-new-logo-looks-awfully-familiar/|accessdate=3 November 2016|publisher=New York PostS|date=2 November 2016|deadurl=no|archiveurl=https://web.archive.org/web/20161104033943/http://nypost.com/2016/11/02/metlifes-new-logo-looks-awfully-familiar/|archivedate=4 November 2016|df=}}</ref>
==Blimp and sports sponsorship==
[[Image:Metlife snoopy two blimp.jpg|right|thumb|The Metlife 'Snoopy Two' blimp.]]
The MetLife blimp program began in 1987 with the “Snoopy 1” airship and, in 1994, expanded to include the “Snoopy 2” airship.<ref name=BlimpsOrigin>{{cite news|last=Shine|first=Dan|title=The Love Float|newspaper=The Dallas Morning News|date=29 December 1994}}</ref> The program provides aerial coverage to over 80 major sporting events every year and is currently the official aerial coverage provider of the PGA Tour.<ref name=PGATour>{{cite journal|title=MetLife Joins Forces with Believe In Tomorrow Children's Foundation|journal=Wireless News|date=August 2010}}</ref> “Snoopy 1” and “Snoopy 2” also provide overhead television coverage for the [[NFL]], [[CBS]] College Football, the [[LPGA]], the [[NBA Finals]], [[Copa Chile]], the [[Preakness Stakes]], and the [[Kentucky Derby]].<ref name=PGATour/><ref name=Horses>{{cite journal|title=MetLife Inflates Blimp Fleet|journal=National Underwriter|date=August 2007|page=7}}</ref><ref name=SportingLife>{{cite press release|title=MetLife to Be the First Major Marketing Partner of the New Meadowlands Stadium in NJ|url=http://www.webwire.com/ViewPressRel.asp?aId=68077|publisher=Web Wire|date=17 June 2008|accessdate=24 August 2010|deadurl=no|archiveurl=https://web.archive.org/web/20120307223902/http://www.webwire.com/ViewPressRel.asp?aId=68077|archivedate=7 March 2012|df=}}</ref><ref name=CBSFootball>{{cite web|url=https://www.metlife.com/about/advertising/MetLife-blimp/schedule/index.html|title=Blimp Schedule|publisher=MetLife|accessdate=20 November 2014|deadurl=yes|archiveurl=https://web.archive.org/web/20141129033346/https://www.metlife.com/about/advertising/MetLife-blimp/schedule/index.html|archivedate=29 November 2014|df=}}</ref> On August 23, 2011, MetLife agreed to a 25-year sponsorship deal to rename New Meadowlands Stadium in [[East Rutherford, New Jersey]], home of the NFL's [[New York Giants]] and [[New York Jets]] to [[MetLife Stadium]].<ref>{{cite news |title=MetLife announces it has bought the naming rights to New Meadowlands Stadium for 25 years |url=https://www.washingtonpost.com/sports/redskins/metlife-announces-it-has-bought-the-naming-rights-to-new-meadowlands-stadium-for-25-years/2011/08/23/gIQA9cJ8YJ_story.html |newspaper=The Washington Post |agency=Associated Press |date=August 23, 2011 |accessdate=2011-08-23 }} {{Dead link|date=September 2013|bot=RjwilmsiBot}}</ref>
From 2014 to 2017, MetLife is the title sponsor of the [[BWF Super Series]] badminton tournament.<ref>{{cite web|url=https://www.insidethegames.biz/articles/1017517/metlife-announced-as-title-sponsor-for-bwf-world-superseries-in-four-year-deal|title=MetLife announced as title sponsor for BWF World Superseries|publisher=|deadurl=no|archiveurl=https://web.archive.org/web/20171201030628/https://www.insidethegames.biz/articles/1017517/metlife-announced-as-title-sponsor-for-bwf-world-superseries-in-four-year-deal|archivedate=2017-12-01|df=}}</ref>
==MetLife and the “Ideal weight”==
In 1959, The Metropolitan Life Insurance Company (as it was known at the time) released tables of the best weight for each height for longevity, based on their collected insurance data. These tables showed the “desirable weights”. In 1983, they released tables showing the “ideal” weights for greatest longevity; this information was based on data collected in the Build Study of 1979 collected by the [[Society of Actuaries]]. This data followed patients for 18 years (from 1954-1972) and was collected from 25 life insurance companies in Canada and the United States, representing 4.2 million people. These “ideal” weights were higher than the prior “desirable” weights, this was attributed to an increase in muscle mass due to improved fitness levels among the population. This study is still the largest available pool of data for this purpose. It was noticed that the average weights in the population are higher than the ideal weights for survival. The ‘’’Metropolitan Tables’’’ included ‘’small’’, ‘’medium’’ and ‘’large’’ frames, based on elbow-girth measured using calipers, as the elbows do not develop adipose tissue. They presented weight ranges for height, sex and body frame (again associated with the lowest mortality) The midpoint of the ideal weight for the medium frames for each height was selected as the “ideal” weight used for calculations of “excess weight” (initial weight minus ideal weight). This led to a formula to calculate the ideal weight used by [[bariatrics|bariatric]] surgeons, but it had lost considerable accuracy by 2007, again due to improvements in medical care and in public health.<ref>{{cite journal |last=Deital |first=Mervyn |display-authors=etal |date=May 18, 2007 |title=Reporting Weight Loss 2007 |journal=Obesity Surgery |volume=17 |issue=5 |location= |pages=565–568|doi=10.1007/s11695-007-9116-0 |pmid=17658011 }}</ref>
==See also==
{{Portal|New York City|Companies}}
* [[List of United States insurance companies]]
* [[Met English]]
* [[Park La Brea, Los Angeles, California]]
* [[Park Merced, San Francisco, California]]
* [[Parkchester, Bronx]]
* [[Riverton Houses]]
* [[Stuyvesant Town]]
==References==
{{reflist|2}}
==Archives and records==
*[http://nrs.harvard.edu/urn-3:HBS.Baker.EAD:bak00219 New England Mutual Life Insurance Company records] at Baker Library Special Collections, Harvard Business School.
==External links==
{{Commons category}}
* {{Official website|https://www.metlife.com}}
{{Finance links
| name = MetLife
| symbol = MET
| sec_cik = MET
| yahoo = MET
| google = MET
}}
{{Major insurance companies}}
{{DEFAULTSORT:Metlife}}
[[Category:MetLife| ]]
[[Category:Life insurance companies of the United States]]
[[Category:Financial services companies based in New York City]]
[[Category:Insurance companies based in New York City]]
[[Category:Former mutual insurance companies]]
[[Category:American companies established in 1868]]
[[Category:Financial services companies established in 1868]]
[[Category:1868 establishments in New York (state)]]
[[Category:Companies listed on the New York Stock Exchange]]
