Reinsurance News
15th October 2020
Life insurer MetLife has announced a series of changes to its senior leadership team, including the retirement of Latin America executive vice president and president Oscar Schmidt. Schmidt departs after a 26-year career with the company. He will step away from his executive position at the end of the year but will stay ... Read the full article
24th June 2020
MetLife has become the first US-based life insurer to join the United Nations Global Compact, the world’s largest corporate sustainability initiative. The UN Global Compact calls for companies to align their operations and strategies with 10 universal principles in the areas of human rights, labour, the environment, and anti-corruption. “Sustainability is central ... Read the full article
18th June 2020
Metropolitan Tower Life Insurance Company, a wholly owned subsidiary of MetLife, Inc., will provide reinsurance to Pension Insurance Corporation (PIC) for longevity risk associated with roughly £280 million of pension liabilities. This transaction signals MetLife's entry into the UK longevity reinsurance marketplace and positions the firm as a reinsurance solution for ... Read the full article
16th June 2020
International re/insurance industry think tank, The Geneva Association (GA), has announced the additions of Lloyd's of London's John Neal, MetLife's Michel Khalaf, and Reinsurance Group of America's (RGA) Anna Manning to its Board of Directors. The appointments of Neal, Chief Executive Officer (CEO) of Lloyd's, Khalaf, President and CEO of MetLife ... Read the full article
29th January 2020
Life insurer MetLife has entered into an agreement with Lockheed Martin to provide annuity benefits to approximately 20,000 members of its defined benefit pension plan, representing obligations of around $1.9 billion. Lockheed Martin purchased a group annuity contract via its master retirement trust from MetLife subsidiary Metropolitan Tower Life Insurance Company, ... Read the full article
23rd January 2020
Life insurer MetLife has announced the appointment of Toby Brown as executive vice president and Chief Auditor. Effective March 1, Brown will report to MetLife president and Chief Executive Officer Michel Khalaf on an administrative basis. As Chief Auditor, he will lead the team responsible for providing assurance over MetLife’s risk management, ... Read the full article
25th June 2019
The South China Morning Post has reported that FWD Group, the Swiss Re backed insurance business of Pacific Century Group (PCG), is in advanced talks to acquire MetLife's Hong Kong insurance business. According to reports, an agreement between the two companies could be made within the next few weeks. People close ... Read the full article
9th May 2019
MetLife has announced that Patrik Ringstroem will join the company in July as Chief Strategy Officer, reporting to President and CEO Michel Khalaf. In this role, Ringstroem will be tasked with leading the team responsible for MetLife’s global strategy to help drive top and bottom line financial performance. He succeeds Rebecca Tadikonda, ... Read the full article
9th January 2019
MetLife has announced that Michel A. Khalaf is to succeed Steven A. Kandarian as the company’s President and Chief Executive Officer (CEO), effective from May 1, 2019. Khalaf has served as President of Europe, Middle East & Africa (EMEA) at MetLife since 2011, with added responsibility for the company’s U.S Business ... Read the full article
29th August 2018
MetLife Asia’s Singapore-based innovation centre, LumenLab, has begun testing a new insurance solution that uses blockchain technology to trigger automatic payouts upon diagnosis of certain health conditions, without the need to make a claim. The experimental product, called Vitana, is currently designed to offer pregnant women financial protection in case of ... Read the full article
11th May 2018
Metropolitan Life Insurance Company (MetLife) has entered a risk transfer agreement with FedEx Corporation, which will see it cover approximately $6 billion of FedEx's pension obligations. The deal, which will cover around 41,000 retirees and beneficiaries in the FedEx defined benefit pension plans, is believed to be the largest U.S. pension ... Read the full article
11th October 2017
IBM has partnered with MetLife to develop a new platform for the global insurance industry on the IBM Cloud, designed to improve both the process and economics for product development, as well as enhancing underwriting and benefits delivery. The new, industry-first platform aims to assist insurers expansion into new products and ... Read the full article
