Prudential, MetLife heads respond to disappointing earnings
May 5, 2016 by Arthur D. Postal
WASHINGTON — The U.S. government is likely to file its brief seeking reversal of a lower court ruling that throws out the designation of MetLife as a systemically important institution (SIFI) by June 6, and a final decision by the U.S. Court of Appeals for the D.C. Circuit is likely by mid-2017, MetLife chairman, president and CEO Steven Kandarian said today.
In response to MetLife’s so-far successful challenge to its delegation as a SIFI, John R. Strangfeld, Prudential Financial chairman, president & CEO, seemed to indicate that his company would await final Appeals Court action before deciding whether to challenge its designation as a SIFI.
Strangefeld said that the D.C. Circuit decision March 30 regarding MetLife “is a significant development” with respect to group supervision and capital standards [for insurers].
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