MetLife Holdings to Report to CFO John McCallion
April 12 2019 - 08:00AM
Business Wire
MetLife, Inc. (NYSE: MET) today announced that MetLife Holdings,
which contains the closed-block businesses of the company’s former
U.S. Retail segment, will become part of the finance organization
effective May 1, 2019.
John D. McCallion, Executive Vice President and Chief Financial
Officer, will assume responsibility for the business, which in 2018
delivered $1.3 billion of adjusted earnings. Reporting to McCallion
will be Senior Vice President Frank Cassandra, who manages the
segment day to day. MetLife Holdings currently reports to Executive
Vice President and Head of Global Technology and Operations Martin
J. Lippert, who is retiring effective at the end of business on
April 30, 2019.
“Our goal for MetLife Holdings is to maintain our strong focus
on customer service while improving operating efficiency to
generate distributable cash,” McCallion said. “Just as important,
we will continue to look for opportunities to accelerate the
appropriate release of capital and reserves.”
The primary product lines in MetLife Holdings are traditional
life insurance, variable and fixed annuities, and long-term care.
The company is no longer actively marketing new business for these
lines.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and
affiliates (MetLife), is one of the world’s leading financial
services companies, providing insurance, annuities, employee
benefits and asset management to help its individual and
institutional customers navigate their changing world. Founded in
1868, MetLife has operations in more than 40 countries and holds
leading market positions in the United States, Japan, Latin
America, Asia, Europe and the Middle East. For more information,
visit www.metlife.com.
Forward-Looking Statements
This news release may contain or refer to forward-looking
statements. Forward-looking statements give expectations or
forecasts of the future using terms such as “anticipate,”
“estimate,” “expect,” “project,” “intend,” “plan,” “believe,”
“will,” and other terms tied to future periods. Results could
differ materially from those expressed or implied in the
forward-looking statements. Forward-looking statements are based on
assumptions and expectations. They involve risks and uncertainties,
including the “Risk Factors” MetLife, Inc. describes in its U.S.
Securities and Exchange Commission filings. The company has no
obligation to correct or update any forward-looking statement.
Parts of this news release may include additional information on
forward-looking statements.
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