Wondering if MetLife recognized the irony in naming their most currrent...
MetLife
The Metropolitan Life Insurance Company (MetLife) is a leading provider of insurance and other financial services to millions of individual and institutional customers throughout the United States.
MetLife is one of the largest and strongest providers of variable annuity products in the United States and abroad. The company also offers products in the areas of life insurance, disability insurance, retirement savings, auto insurance, dental insurance, employee benefits and banking services.
MetLife serves 90 million people in over 50 countries and is a publicly listed company on the New York Stock Exchange.
| MetLife Product Reviews |
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Product Review of Preference Premier
There is an interesting feature available through this product that allows for... Product Review of MetLife Longevity Income Guarantee
Metlife is one of several insurance companies offering a longevity insurance... Product Review of MetLife Longevity Income Guarantee
There are 2 versions of MetLife's longevity annuity.
The first is what they... |
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| Website | http://www.metlife.com |
| Type | Insurance Company |
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| Country | USA |
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| Address | , |
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Information & Articles about MetLife
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Variable annuity sales in the United States continue to decline in the wake of the financial crisis and capital market turmoil. First quarter sales of variable annuities totaled $30.4 billion. This represents a 26% decrease from the same period a year ago. Total variable annuity sales for 2008 totaled $154.8 billion, a drop of 15.1% from 2007. The top 5 variable annuity companies in terms of revenue were lead by MetLife:
Source: Trading Markets
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Life and annuity insurers have been revamping their variable annuity product offerings to better fit a post financial crisis environment. As discussed in recent blog entries, variable annuity product revamps basically boil down to increasing prices and benefit reductions. The unanswered question is what impact the product changes will have on variable annuity sales. According to a recent Wall Street Journal Article, variable annuity sales grew at an 11% annual rate from 1995 through 2007. However, variable annuity sales did fall last year. Some industry analysts and executives see this trend continuing in the near-term:
Some see this declining trend continuing for the longer-term:
The above said, some of the stronger players in the industry such as MetLife have actually seen their sales of variable annuities pick-up in the current environment. Source: Wall Street Journal (subscription required) |
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Insurance Company rating agency A.M. Best released a report on the state of the industry for life and annuity insurance companies. The report is somewhat optimistic given the carnage the industry has experienced over the past year or so. The industry as a whole managed to eke out a small amount of net income--$91.5 million--for 2008. However, capital losses for 2008 reached $19.6 billion. Companies such as Allstate Corporation and The Hartford Financial Services have been hit hardest. However, not all insurers have suffered during the downturn. For example, MetLife generated $3.21 billion in net income in 2008. Certain lines of business such as variable annuities and asset management have been hit hard while many other lines of business remain solid. Insurance companies have more access to capital in the current environment and they appear to be more focused on their core product lines. Source: Investment News
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