MetLife gets regulatory nod to shed bank-holding status

Thu Feb 14, 2013 12:33pm EST

Feb 14 (Reuters) - MetLife Inc, the largest U.S. life insurer, said it has received approvals from the U.S. Federal Reserve and the Federal Deposit Insurance Corporation to deregister as a bank holding company.

The company started the process of dropping the registration after closing the sale of its deposit-taking business to a unit of General Electric's GE Capital last month.

MetLife shares were down 2.5 percent at $36.58 on the New York Stock Exchange on Thursday, a day after the company posted a 90 percent fall in quarterly profit.