by John Darer® CLU ChFC MSSC RSP CLTC
MetLife, Inc. through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.
In January 12, 2016 press release Met Life announced that it was going to spin-off of a substantial portion of its retail life and annuity US Retail segment. Download Met Life U S Retail Separation Press Release - FINAL
On February 25, 2016, Massachusetts Mutual Life Insurance Company (MassMutual), another giant insurer in business since the 19th Century, confirmed it has entered into discussions with MetLife, Inc. (MET) for MassMutual to potentially acquire MetLife's U.S. Retail advisor force—MetLife Premier Client Group ("MPCG"). No timetable has been set for any agreement.
The parts of the U.S. Retail segment that would stay with MetLife are: the life insurance closed block, property-casualty, and the life and annuity business sold through Metropolitan Life Insurance Company (MLIC), which includes structured settlement annuities. MLIC would no longer write new retail life and annuity business post-separation.
Inquiries made of the MetLife company today state unequivocally that with respect to structured settlements "it is business as usual".