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Stock impact report

MetLife Announces $10 Billion Variable Annuity Risk Transfer Transaction

MetLife, Inc. (MET) 
Last metlife, inc. earnings: 2/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investor.metlife.com
Company Research Source: Business Wire
Agreement with a subsidiary of Talcott Financial Group to reinsure approximately $10 billion of U.S. retail variable annuity and rider reservesTransaction demonstrates MetLife’s focused execution across New Frontier strategic priorities NEW YORK--(BUSINESS WIRE)--MetLife, Inc. (NYSE: MET) today announced it has entered into an agreement with Talcott Resolution Life Insurance Company (Talcott), a life insurance and annuities subsidiary of Talcott Financial Group, to reinsure approximately $10 billion of U.S. retail variable annuity and rider reserves.The combined value of the transaction is expected to be approximately $250 million consisting of both ceding commission and capital released over time.The planned reinsurance transaction with Talcott is aligned with MetLife’s disciplined evaluation of risk transfer options within MetLife Holdings, the closed-block businesses of the company’s former U.S. Retail segment. The transaction will accelerate the run-off of MetLife’s legacy busi Show less Read more
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