MetLife names Michel Khalaf as next CEO, Kandarian to retire [CNBC]
Alico, Inc. (ALCO)
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Source: CNBC
MetLife names Michel Khalaf as next CEO, Kandarian to retire MetLife Khalaf, who headed the company's U.S. and EMEA business, will move into the new role on May 1 after Kandarian retires, MetLife said in a statement. The new CEO takes over at a time when insurers are bracing for elevated payouts to owners of long-term care policies, which cover expenses like assisted living for infirmed and elderly customers, forcing them to boost reserves. Khalaf joined MetLife in 2010, after the company bought American Life Company (Alico) from American International Group Under Kandarian's leadership, MetLife spun off its longtime business that sold individual life insurance into a new company called Brighthouse Financial Kandarian also pushed for removal of MetLife's "systemically important" designation, better known as "too big to fail", a tag that triggers heightened regulatory oversight and requires companies to hold on to more capital. Up to Monday's close, MetLife's shares have fallen more t
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