MetLife

"Metropolitan Life" redirects here. For the book by Fran Lebowitz, see Metropolitan Life (book).
For the League of Legends player formerly known as Matlife, see Matt (gamer).

MetLife, Inc.
Company typePublic
IndustryFinancial services
FoundedMarch 24, 1868; 156 years ago (1868-03-24)
HeadquartersMetLife Building
New York City, U.S.
Key people
ServicesInsurance, annuities, employee benefits
RevenueDecrease US$66.91 billion (2023)[1]
Decrease US$2.162 billion (2023)[1]
Decrease US$1.578 billion (2023)[1]
AUMIncrease US$600.8 billion (2023)[2]
Total assetsIncrease US$687.6 billion (2023)[1]
Total equityIncrease US$30.02 billion (2023)[1]
Number of employees
c. 45,000 (2023)[1]
SubsidiariesPNB MetLife India Insurance Company
Websitemetlife.com

MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company (MLIC),[3] better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with around 90 million customers in over 60 countries.[4][5] The firm was founded on March 24, 1868.[6] MetLife ranked No. 43 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.[7]

On January 6, 1915, MetLife completed the mutualization process, changing from a stock life insurance company owned by individuals to a mutual company operating without external shareholders and for the benefit of policyholders.[8] After 85 years as a mutual company, MetLife demutualized into a publicly traded company with an initial public offering in 2000.[9] Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia's Pacific region, Europe, and the Middle East.[10] MetLife serves 90 of the largest Fortune 500 companies.[11]

MetLife's head offices and boardroom are located at the MetLife Building at 200 Park Avenue in Midtown Manhattan and New York City which MetLife owned from 1981 to 2005; despite the sale, MetLife increased its leased footprint in the building beginning in 2015.[12][13]

In January 2016, MetLife announced that it would spin off its U.S. retail business, including individual life insurance and annuities for the retail market, in a separate company called Brighthouse Financial, which launched in March 2017.[14] The continuing MetLife company kept naming rights to MetLife Stadium in East Rutherford, New Jersey.[15]

  1. ^ a b c d e f "Metlife, Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 16, 2024.
  2. ^ "Metlife Assets Under Management December 31, 2023" (PDF). MetLife. Retrieved June 4, 2024.
  3. ^ Staff (October 2, 2015). "MetLife Announces Third Quarter Non-Cash Charge". Insurance Weekly News. Archived from the original on January 8, 2016. Retrieved December 20, 2015.
  4. ^ Staff & Wire Reports (March 11, 2010). "MetLife Expands Beyond 'Slow Growth' U.S. Market". Tulsa World. Retrieved December 16, 2015.
  5. ^ "MetLife and Fidelity Introduce New Retirement Income Solution: A Variable Annuity Designed to Provide Lifetime Income for Those Nearing or in Retirement" (Press release). Business Wire. November 16, 2009.
  6. ^ Botti, Timothy (2006). Envy of the world: a history of the U.S. economy & big business. New York, NY: Algora Publishing. pp. 140. ISBN 0-87586-431-7.
  7. ^ "Fortune 500 Companies 2018: Who Made the List". Fortune. Retrieved November 10, 2018.
  8. ^ "Company Highlights" (PDF). Archived (PDF) from the original on March 21, 2012. Retrieved March 2, 2011.
  9. ^ "In Play". Daily Deal. April 7, 2000.
  10. ^ Lehmann, R.J. (June 4, 2010). "MetLife Sees Alico Deals as Door to Growth in China, Middle East". SNL Insurance M&A. Archived from the original on December 22, 2015 – via insurancenewsnet.(subscription required)
  11. ^ "KASB FL, MetLife Alico Sign Investment Agreement". Pakistan Observer. December 31, 2010. Retrieved March 14, 2011.[dead link]
  12. ^ Anthony Ramirez (April 2, 2005). "MetLife Sells 2nd Building, A Landmark On Park Ave". The New York Times. Archived from the original on February 3, 2015.
  13. ^ Scism, Leslie; Morris, Keiko (March 19, 2015). "MetLife to Unify at Namesake Tower". Wall Street Journal. ISSN 0099-9660. Retrieved June 3, 2021.
  14. ^ "Important Information About MetLife's U.S. Retail Business Separation". www.metlife.com. Archived from the original on May 5, 2017.
  15. ^ "MetLife Shelves 148-Year-Old U.S. Retail Brand for 'Brighthouse'". Bloomberg.com. July 21, 2016. Archived from the original on February 2, 2017 – via www.bloomberg.com.