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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.
May 27, 2002 | From Bloomberg News
MetLife Inc., the largest U.S. insurer, agreed to buy Mexico's state-owned Aseguradora Hidalgo for $962 million in cash, outbidding Spanish and Mexican insurers trying to expand in Latin America's biggest economy. The combined company would be Mexico's second-largest insurer. Mexico also received offers from Spain's Corporacion Mapfre and Grupo Financiero Inbursa, the banking and insurance company owned by Latin America's richest man, Mexican billionaire Carlos Slim.
October 18, 2006 | From Reuters
MetLife Inc. said Tuesday that it had agreed to sell two adjoining Manhattan apartment complexes for $5.4 billion in one of the largest U.S. real estate transactions on record. The company said it would sell Peter Cooper Village and Stuyvesant Town to a joint venture of New York real estate developer Tishman Speyer and the realty unit of BlackRock Inc.
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.
February 13, 2002 | From Bloomberg News
MetLife Inc. had a loss in the fourth quarter, reflecting stagnant sales and losses on investments in Enron Corp. and Argentina. The largest U.S. life insurer also incurred expenses of $489 million as it fired staff and set aside money to settle lawsuits. The New York-based company's net loss was $296 million, or 41 cents a share, compared with net income of $591 million, or 74 cents, a year earlier. Revenue was little changed at $8.4 billion.
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.
June 12, 2004 | From Bloomberg News
Aetna Inc., Cigna Corp. and MetLife Inc. said Friday that they received subpoenas from New York Atty. Gen. Eliot Spitzer amid a widening investigation into possible conflicts of interest over fees collected by insurance brokers. Spitzer is investigating whether brokers that make money by helping companies choose policies are compromising their client relationships by also accepting payments from insurers.
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