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Metlife Inc

July 24, 2004 | From Bloomberg News
Melanie Bloom, whose husband, David, died while covering the Iraq war for NBC News, has sued MetLife Inc. and Cigna Corp. for refusing to honor war-zone life insurance policies the broadcaster purchased before he went overseas. Bloom filed suit Thursday in federal court in New York against MetLife and Cigna to force them to pay. She says MetLife won't honor a $1-million policy and Cigna a $1.2-million policy because they concluded that Bloom died of natural causes, not war-related ones.
August 13, 2002 | From Times Wire Services
J.P. Morgan Chase & Co., American Express Co., MetLife Inc. and Bank of America Corp. will begin expensing stock options next year, joining a growing list of financial institutions, insurance firms and manufacturers adopting the practice. The move at J.P. Morgan was outlined in a memorandum to the bank's employees from Chairman and Chief Executive William B. Harrison Jr. The memo was made public Monday by the bank.
MetLife Inc., the largest U.S. life insurer, was accused in a lawsuit filed Tuesday of systematically discriminating against thousands of female job applicants and employees. The suit, which was filed in U.S. District Court in Manhattan, says the New York-based insurer hires fewer women than men, pays women less, denies them promotions and sometimes fires those who complain. Five women, four of whom still work for MetLife, are named as plaintiffs in the suit.
February 1, 2005 | From Bloomberg News
MetLife Inc. on Monday agreed to buy Citigroup Inc.'s Travelers Life & Annuity and most of its international insurance business for $11.5 billion to become North America's biggest seller of individual life insurance. MetLife will pay Citigroup as much as $3 billion in stock and the rest in cash, the New York-based companies said.
November 7, 2001 | Bloomberg News
MetLife Inc., the No. 1 U.S. life insurer, said Tuesday its third-quarter earnings fell because of $208 million of claims from the Sept. 11 attacks that destroyed the World Trade Center. The New York-based company's third-quarter net income fell to $162 million, or 21 cents a share, from $241 million, or 31 cents, a year ago. Revenue rose 1.5% to $8.07 billion from $7.95 billion. MetLife's results also reflect a $12-million expense related to a cost-cutting plan.
March 28, 2005 | From Associated Press
MetLife Inc., one of the nation's largest insurers, is rolling out a program this week to provide free help in resolving cases of identity theft for its homeowners' and renters' insurance customers. Though several insurance companies sell identity theft coverage, mainly to reimburse consumers for their costs in dealing with misuse of their credit cards or other accounts, MetLife will be the first that works with consumers to resolve their problems at no cost.
February 14, 2001 | From Bloomberg News and Associated Press
BP Amoco said its fourth-quarter profit nearly doubled as higher prices for crude oil and the integration of newly acquired businesses more than offset pinched profits in its chemicals business. The oil giant's shares declined, however, as Chief Executive John Browne said oil and gas production this year will increase 5.5%, a target some analysts doubt as BP shifts from acquisitions to investing in its own operations. After spending more than $100 billion to acquire Atlantic Richfield Co.
December 2, 2005 | From Bloomberg News
Life, health, and property and casualty insurers should press companies they cover to better protect themselves from climate changes that may cause disasters, California Controller Steve Westly said. Westly sent letters to 30 companies, including MetLife Inc., the largest U.S. life insurer, and General Re, owned by Warren E. Buffett's Berkshire Hathaway Inc., asking them to analyze and prepare for the effects that climate change may have on them.
May 8, 2002 | Bloomberg News
MetLife Inc. said net income rose 15% in the first quarter because of cost cuts and higher profit from group life and disability policies. Net income climbed to $329million, or 44 cents a share. Revenue increased 2% to $8.09billion. Shares of New York-based MetLife fell $2.29, or 6.7%, to $31.86 on the New York Stock Exchange.
February 8, 2002 | Associated Press
MetLife Inc. announced it will take a $250-million pretax charge against earnings to cover costs stemming from class-action lawsuits and a regulatory inquiry over allegations of race discrimination. The lawsuits allege MetLife's Metropolitan Life Insurance Co. charged higher premiums to black customers than to whites for less insurance coverage. The suits also allege the firm urged construction of race-based mortality tables.
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