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Metlife Inc (MET.N)

MET.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Metlife to acquire Logan Circle Partners for $250 million
Friday, 7 Jul 2017 04:05pm EDT 

July 7 (Reuters) - Metlife Inc ::Metlife to acquire Logan Circle Partners, L.P..Metlife Inc - deal for $250 million in cash..Metlife Inc says under terms of agreement, Metlife will acquire 100 percent of fortress' ownership stake in Logan circle partners.Metlife Inc - transaction will not impact Metlife's existing $3 billion repurchase authorization, which is expected to be completed by year-end 2017.Metlife Inc - transaction expected to close in q3 of 2017.  Full Article

Metlife says U.S. SEC has declared Brighthouse Financial's registration statement on form 10 effective
Thursday, 6 Jul 2017 04:15pm EDT 

July 6 (Reuters) - Metlife Inc ::Metlife Inc - u.s. Securities and exchange commission (sec) has declared Brighthouse Financial, Inc.'s registration statement on form 10 effective.Metlife Inc - expects that on Aug 7, regular-way trading will commence on Nasdaq for Brighthouse Financial Inc common stock under symbol "bhf"​.Metlife - Nasdaq advised that Brighthouse Financial, common stock will begin trading on a "when-issued" basis under symbol "BHFWV" on Monday, July 17.Metlife - expects starting July 17, co's common stock to trade without right to receive Brighthouse Financial common stock dividend under "met wi.".  Full Article

MetLife board of directors approves spin-off of Brighthouse Financial
Thursday, 29 Jun 2017 04:15pm EDT 

June 29 (Reuters) - MetLife Inc ::MetLife board of directors approves spin-off of Brighthouse Financial.MetLife Inc says all state insurance regulatory approvals granted.MetLife Inc - subject to SEC's timely declaration that Brighthouse Financial's registration statement on form 10 is effective, record date will be July 19, 2017.MetLife - subject to SEC's timely declaration that Brighthouse Financial's registration statement on form 10 is effective, distribution date will be Aug. 4, 2017.  Full Article

Metlife issues $1.5 bln aggregate amount of 3.700 pct senior notes
Thursday, 22 Jun 2017 05:00pm EDT 

June 22 (Reuters) - Metlife Inc -:Metlife-Unit issued $1.5 billion aggregate amount of 3.700% senior notes due 2027, $1.5 billion aggregate amount of 4.700% senior notes due 2047 in private offering.Has initially guaranteed the notes on a senior unsecured basis.Metlife - if a unit's stock distribution event not occurred on/prior to Dec 31, 2017, it must redeem notes on tenth business day following Dec 31.  Full Article

Metlife Inc announces management changes
Thursday, 15 Jun 2017 08:00am EDT 

June 15 (Reuters) - Metlife Inc ::Metlife inc - announced a series of changes to its senior leadership ranks​.Metlife - Michel Khalaf to become President of U.S. Business while retaining role as president of EMEA; Marty Lippert to assume responsibility for Metlife Holdings.Metlife inc - Chief Risk Officer, Stan Talbi, will retire at end of august.Metlife inc - Ramy Tadros will join metlife in September as company's new chief risk officer.  Full Article

Metlife names Susan Podlogar Chief Human Resources Officer
Monday, 12 Jun 2017 11:00am EDT 

June 12 (Reuters) - Metlife Inc ::Metlife names new Chief Human Resources Officer.Named Susan Podlogar as Executive Vice President and Chief Human Resources Officer.Podlogar comes to Metlife from Johnson & Johnson.  Full Article

Metlife began restructuring derivative hedges
Friday, 5 May 2017 06:57am EDT 

May 5 (Reuters) - Metlife Inc : :Metlife - during Q1, began restructuring some derivative hedges to partially stabilize volatility from nonqualified interest rate derivatives .Metlife - began restructuring derivative hedges "to help meet prospective dividend and free cash flow objectives under varying interest rate scenarios".Metlife - restructuring of hedge program outside of brighthouse financial segment is "substantially complete" in meeting co's initial objectives.Metlife - as part of restructuring, replaced certain nonqualified derivatives with derivatives that qualify for hedge accounting treatment.Metlife says as part of restructuring, co also entered replication transactions using interest rate swaps.Metlife - anticipate co will need to undertake certain additional tasks to comply with certain exemptions provided in dol regulations related to ERISA.Metlife - application of rules related to ERISA on June 9, in light of rule reconsideration requested by president Trump, could negatively impact product sales.Metlife - operating expenses within businesses could increase as a result of uncertainties during negotiation period and upon UK’s withdrawal from EU.Metlife - UK business model utilizes certain rights to operate cross-border insurance, investment operations which may be modified/eliminated if UK exits EU.Metlife - if current rules on government procurement under NAFTA modified or eliminated, it could materially impact business in Mexico, given co's business model.  Full Article

MetLife will not have approvals for Brighthouse spinoff in 2017 first half
Thursday, 4 May 2017 09:15am EDT 

May 4 (Reuters) - MetLife, Inc. :Refreshed hedging strategy to prevent free cash flow from falling interest rates - call.Much of MetLife's first quarter derivatives loss was driven by strength in the u.s. Equity markets and separation of Brighthouse financial - call.MetLife expects effective tax rate of 21 percent to 22 percent, driven by non-u.s. Operations that have tax rate lower than 35 percent-conf call.MetLife expects targeted rate increases in auto of 7 percent in continuing year - conf call.There is no material change to MetLife's low interest hedges - conf call.MetLife would be interested in making a group life acquisition if an opportunity became available - conf call.MetLife's revised hedging strategy within Brighthouse Financial includes instruments with one to three year durations-conf call.MetLife says will not have the necessary approvals to complete spin-off of Brighthouse Financial in first half of 2017 - conf call.MetLife says does not have exact estimate of when spin-off will be complete, but hopeful it will be in the coming months - conf call.MetLife says on track to fully execute $3 billion repurchase authorization by year-end 2017 - conf call.  Full Article

Metlife Q1 shr $0.75; Q1 oper shr $1.41
Wednesday, 3 May 2017 04:15pm EDT 

May 3 (Reuters) - Metlife Inc :Q1 earnings per share $0.75; q1 operating earnings per share $1.41; q1 total operating revenue $16.88 billion, up 2 percent.Q1 earnings per share view $1.27, revenue view $17.08 billion -- Thomson Reuters I/B/E/S.Metlife q1 premiums, fees & other revenues $11.99 billion, down 4 percent.Metlife q1 net investment income $5.20 billion, up 14 percent.Metlife says at quarter-end, book value, excluding aoci other than fcta, was $50.52 per share, down 5 percent from $53.31 at march 31, 2016.Metlife - q1 net income includes $602 million, after tax, in net derivative losses compared with $868 million, after tax, in net derivative gains in q1 2016.Metlife says in q1, rising equity markets and costs associated with repositioning hedging strategies contributed to net derivative losses.Metlife says brighthouse financial reported q1 operating earnings of $244 million, down 25 percent.  Full Article

Metlife chairman says from 2016 through 2019, company plans to invest $1 bln in efficiency enhancements - shareholder letter
Thursday, 27 Apr 2017 09:29am EDT 

April 27 (Reuters) - Metlife Inc ::Metlife chairman in shareholder letter says in U.S. and abroad, will continue to allow "older, more capital intensive" liabilities to run off in 2017.Metlife chairman says from 2016 through 2019, we plan to invest $1 billion in efficiency enhancements - shareholder letter.Metlife Inc - “for 2017, we are on track to return close to $4.5 billion of capital to our shareholders”.Metlife chairman says "U.S. federal regulatory outlook is now more positive than it has been in nearly a decade" - shareholder letter.Metlife chairman says "prospect for pro-growth tax reform has also brightened" - shareholder letter.Metlife chairman says optimistic that reducing U.S. corporate income tax rate will make U.S. companies "more competitive globally".Metlife Chairman says intend to maintain common stock annual dividend at $1.60/share after separation of Brighthouse Financial, and grow it over time.Metlife chairman says "the time is long past due for the federal reserve to fully normalize U.S. monetary policy".  Full Article

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U.S. financial regulators to discuss MetLife lawsuit next week

WASHINGTON Heads of the U.S. financial regulatory agencies will meet behind closed doors next Friday to discuss MetLife Inc's lawsuit against them, according to a notice from Treasury, as the Trump administration wrestles with reforms put in place in response to the financial crisis.