NYSE:MET - New York Stock Exchange, Inc. - US59156R1086 - Common Stock
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MET remains well-poised for growth, attributed to a well-performing Group Benefits segment, partnerships and a notable financial position.
MET's asset management arm is expected to close the acquisition of PineBridge by 2025, expanding its offerings and global presence.
The deal consideration includes $800m cash at closing, and another $400m contingent on future financial and earnout targets.
U.S. insurer MetLife said on Monday it has agreed to buy PineBridge Investments, a global asset manager, from Pacific Century Group in a deal valued at up to $1.2 billion.
US insurer MetLife Inc. is nearing a deal to buy PineBridge Investments’ assets outside of China from Hong Kong billionaire Richard Li’s Pacific Century Group, according to people familiar with the matter.
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Los Angeles look to make it four wins in a row as they head to MetLife Stadium.
MetLife Inc. would consider complementary acquisitions in private credit as part of the company’s new strategic plan, according to Chief Financial Officer John McCallion.
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Major U.S. indexes were slightly lower at midday Thursday after the November Producer Price Index came in higher than expected.
MetLife announced a new strategy called "New Frontier" to boost long-term growth.
MetLife is aiming for double-digit growth in its adjusted earnings per share over the next five years by doubling down on investments in core areas such as group benefits and asset management, its chief executive told Reuters. Unveiling its New Frontier strategic plan to shareholders at its investor day on Thursday, the insurer aims to build on the resilience established in its previous five-year program and capture tailwinds from macroeconomic conditions and demographic change in its key markets. New Frontier is more evolution than revolution, but will give greater priority to growth, MetLife Chief Executive Michel Khalaf told Reuters in an interview.
MET and General Atlantic partner to launch Chariot Re, a life and annuity reinsurance company, expanding their footprint in the reinsurance space.
MetLife and General Atlantic are forming a reinsurance venture, the companies' executives told Reuters on Wednesday, the latest in a growing trend of insurers and alternative money managers teaming up to boost returns from low-risk insurance assets. The venture, called Chariot Reinsurance, will have an initial equity contribution of more than $1 billion, with MetLife and General Atlantic each holding around 15% ownership. Chariot Re, which is due to launch in the first half of 2025, will be headed by Cynthia Smith, most recently the head of MetLife's group benefits regional business, and be initially seeded with $10 billion of existing MetLife policies.