METLIFE INC (MET)

MetLife, Inc. is a Delaware corporation incorporated in 1999 and one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management. It holds leading market positions in the United States, Asia, Latin America, Europe and the Middle East. It is also one of the largest institutional investors in the U.S., with a general account portfolio invested primarily in fixed income securities and mortgage loans, as well as real estate, real estate joint ventures, other limited partnerships and equity securities. Its "New Frontier" strategy, which builds on the earlier Next Horizon strategy, targets growth in Group Benefits, its retirement platform, asset management and high-growth international markets.

Following a fourth-quarter 2025 Strategic Reorganization, MetLife reports six segments: Group Benefits; Retirement and Income Solutions (RIS); Asia; Latin America; Europe, the Middle East and Africa (EMEA); and MetLife Investment Management (MIM), its institutional asset management business. Certain results are reported in Corporate & Other, which now primarily includes the former MetLife Holdings business. Group Benefits, based in the U.S., offers life, dental, group short- and long-term disability, paid family and medical leave, individual disability, AD&D, accident & health and vision insurance, as well as prepaid legal plans, pet insurance and administrative services-only arrangements. RIS, also U.S.-based, provides funding and financing solutions for institutional customers' employee benefit liabilities. Its products include stable value products (guaranteed interest contracts, synthetic wraps, funding agreements), pension risk transfers, institutional income annuities, structured settlements and group deferred annuities. It also offers risk solutions such as longevity and funded reinsurance for U.K. pension business, benefit funding solutions, assumed index-linked annuities and capital markets investment products such as funding agreement-backed notes and commercial paper. Asia offers life, accident & health, and retirement and savings products. Latin America offers life, retirement and savings, accident & health and credit insurance.

MetLife sells to corporations and other institutions, including local, state and federal governments, and their employees, as well as to individuals. It has a leading position in the U.S. group insurance market through long-standing relationships with many of the largest U.S. employers, and it also covers certain U.S. Government employees. Asia operations span nine jurisdictions, with Japan the largest. Latin America's largest operations are in Mexico and Chile. RIS serves benefit plan sponsors, advisors and institutional investors.

Distribution varies by segment. Group Benefits relies mainly on a MetLife employee sales force segmented by customer size, selling directly or through brokers and consultants, and also uses third-party arrangements, sponsoring associations and affinity groups. RIS uses dedicated sales teams and relationship managers who sell directly or through intermediaries. In Asia, face-to-face career and general agency channels are critical in Japan, while other markets combine agencies, bancassurance, independent brokers and employee sales forces. Latin America uses an exclusive captive agency network, direct marketing and brokers or independent agents. Funding agreement-backed notes and commercial paper are marketed through major investment banks' broker-dealer operations. The text also references sections on underwriting, reinsurance, regulation, competition and human capital, but their details are not included.