MetLife Plans To Carve Off Life Insurance Business
January 18, 2016 by Associated Press
NEW YORK (AP) — MetLife says it plans to carve off its U.S. life insurance business via a sale, spinoff or an initial public offering as the parent company challenges harsher regulatory oversight.
The New York company said the potential stand-alone business would have about $240 billion in total assets and represent about 20 percent of its operating earnings. MetLife Inc. would keep its property-casualty and other businesses under the proposed plan.
MetLife has been challenging its designation as a “systemically important” entity that’s deemed “too big to fail,” and therefore subject to greater government oversight and, MetLife says, exorbitant costs.
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Originally Posted at InsuranceNewsNet on January 12, 2016 by Associated Press.
Categories: Industry Articles
