March 2, 2006 |
The Securities and Exchange Commission is investigating sales practices at MetLife Inc.'s New England Securities unit. The SEC is examining the unit's sales of so-called universal life policies, MetLife said in a regulatory filing Tuesday. Universal life insurance allows policyholders to determine the amount and frequency of premium payments. The insurance also allows customers to change the amount of coverage provided over time.
November 21, 2003 |
MetLife Inc., the largest U.S. life insurer, said its Metropolitan Life Insurance Co. unit would buy the long-term care insurance business of pension plan manager TIAA-CREF. New York-based MetLife did not disclose terms of the proposed purchase, which it said would strengthen its market position, especially in individual long-term care insurance. The business covers about 46,000 customers. MetLife shares fell 2 cents to $31.05 on the NYSE.
November 6, 2002 |
Prudential Financial Inc. and MetLife Inc. posted higher third-quarter profits as they boosted sales and cut costs. The companies were hit by large losses on investment sales, but fared better than many rivals because of their size and range of products. Newark, N.J.-based Prudential, the No. 2 U.S. life insurer, reported profit of $392 million, or 70 cents a share, compared with $52 million, or 9 cents, last year. Revenue rose 3% to $5.1 billion. New York-based MetLife, the nation's No.
June 24, 2003 |
John Hancock Financial Services Inc. said it agreed to sell its group life insurance operations to MetLife Inc. as it concentrates on its main businesses. Boston-based Hancock has been moving to divest itself of its non-core operations for the last several years. It has been focusing on businesses such as individual life insurance, long-term care insurance, annuities and structured financial products and institutional investment management. The deal is expected to close this year.
May 6, 2003 |
MetLife Inc., the biggest U.S. life insurer, said first-quarter profit rose 10% on a jump in sales. Net earnings climbed to $362 million, or 47 cents a share, from $329 million, or 44 cents, in the same period a year earlier. Profit excluding realized investment gains and losses was 62 cents, compared with the 65 cents expected by analysts surveyed by Thomson First Call.
August 6, 2002 |
MetLife Inc., the biggest U.S. life insurer, said second-quarter profit rose 21% on higher sales of life insurance and fixed annuities and on expense cuts. Net income rose to $387 million, or 53 cents a share, the New York-based company said. Earnings excluding investment losses were 69 cents, compared with the average analyst estimate of 64 cents by Thomson First Call.