August 13, 2002 |
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.
March 14, 2001 |
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 |
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 |
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.
February 14, 2001 |
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 |
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 |
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 |
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.
February 12, 2002 |
MetLife Inc., the biggest U.S. life insurer, may be facing more than $625 million in costs related to lawsuits over its alleged failure to disclose research from the 1920s to 1950s on the health risks of asbestos, said Colin Devine, a Salomon Smith Barney Inc. analyst. The New York-based company said in its third-quarter filing with the Securities and Exchange Commission it is the defendant in numerous lawsuits seeking compensatory and punitive damages.
April 24, 2012 |
Life insurance giant MetLife Inc. will shell out roughly $500 million in a multistate settlement of its alleged failure to pay death benefits to heirs, regulators said. MetLife, however, said it will pay out about $438 million over the next 17 years, with $188 million going to beneficiaries this year. Insurance regulators from dozens of states had accused the company and others of delaying or withholding life insurance payments to many of its policyholders. About $40 million of the total is likely to end up in California, said State Controller John Chiang, who waged a multiyear audit of life insurance companies' operations.