Analysts: MetLife, MassMutual Both Winners in Major Deal
March 2, 2016 by Cyril Tuohy
The weekend sale of MetLife Inc.’s captive agency force and broker-dealer to MassMutual Financial Group for $300 million is a win for both companies, analysts said.
MetLife lowers its cost structure and MassMutual nearly doubles its army of agents to 9,600 advisors.
MetLife gains as it slashes headcount by about 4,000 agents and advisors to whom it will no longer have to pay benefits, a trio of A.M. Best & Co. analysts said Tuesday. MassMutual, a seller of whole life products, gets overnight access to a portfolio of MetLife annuities, they added.
“That’s where MetLife has been growing — via third-party dealers,” said Michael Adams, A.M. Best’s primary MetLife analyst. Click HERE to view article
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