MetLife Announces Planned Merger of Two Subsidiaries
January 16 2018 - 4:15PM
Business Wire
MetLife, Inc. (NYSE:MET) today announced that it intends to
merge its subsidiary, General American Life Insurance Company, with
and into another subsidiary, Metropolitan Tower Life Insurance
Company. Metropolitan Tower Life Insurance Company will continue as
the surviving entity after the merger, and the merged entity will
be domiciled in Nebraska. The transactions, which are subject to
applicable regulatory approvals, are expected to be completed in
the first half of 2018.
Following the decision to separate a substantial portion of its
U.S. Retail segment, MetLife conducted a review of the entities out
of which it does business, leading to the decision to merge the two
subsidiaries. This restructuring simplifies and streamlines
MetLife’s corporate and operational structure, ensuring that the
company remains competitive, flexible and is in the best position
to meet customer needs. All policy, contract, or certificate terms,
conditions or benefits remain unchanged as a result of the
transactions.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180116006692/en/
MetLife, Inc.Judi Mahaney, 212-578-7977jmahaney@metlife.com
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