1. P R E S E N T A T I O N B Y B R E N D A J A N S E N
2. History
In 1863, a group of New York City businessmen got
together to form National Union Life and Limb
Insurance Company
Started insuring Civil War sailors and soldiers who suffered
from war related disabilities.
After a rough 5 years, they decided to drop the
casualty business and focus on life insurance
On March 24, 1868 Metropolitan Life Insurance
Company (MetLife for short) was formed
1909, MetLife became the nation's largest life insurer
in terms of insurance in force
3. History, cont.
Completed the mutualization process on January 6, 1915
Changed from a stock life insurance company to a mutual company
Financed the construction of the Empire State
Building in 1929
Provided capital to build Rockefeller Center in 1931
IPO in April of 2000 at $14.25/share
9M shareholders
Was the most widely held stock in North America
Today, MetLife holds leading market positions in the
United States, Japan, Latin America, Asia’s Pacific
region, Europe, and the Middle East
4. Products
Life Insurance*
Term Life Insurance
Final Expense Whole Life
Insurance
Whole Life Insurance
Universal Life Insurance
Disability Income Insurance
Individual Disability Insurance
Auto Insurance
Individual Auto Insurance
Group Auto Insurance
Home Insurance
Homeowners
Condo
Renters
Insurance for Landlord
Mobile Home Insurance
Employee Benefits
Life
Dental
Disability
Vision
Accident & Health
Investment
Annuities
IRAs
Mutual Funds and Brokerage
(MetLife Securities Inc.)
*Life Insurance is MetLife’s biggest area of business. Life is in their name!
5. Risk Assessment
Underwriting
Focused on disciplined underwriting
Don’t’ foresee any significant changes to underlying trends
Catastrophic events like Hurricane Sandy create high volume
of claims
Reinsurance
Based on assumptions and estimations
Used to limit losses, minimize exposer to significant risk, and
provide additional capacity for future growth
MetLife reviews the actual and anticipated experience
compared to the assumptions
12. Credit Rating
A.M. Best Company Fitch Ratings
Moody's Investors
Service Standard & Poor's
American Life Insurance
Company
Not Rated Not Rated A1 AA-
First MetLife Investors
Insurance Company
A+ Not Rated Not Rated AA-
General American Life
Insurance Company
A+ AA- Aa3 AA-
MetLife Insurance
Company USA*
A+ AA- Aa3 AA-
Metropolitan Life
Insurance Company
A+ AA- Aa3 AA-
MetLife Insurance K.K.
(MetLife Japan)**
Not Rated Not Rated Not Rated AA-
New England Life
Insurance Company
A+ AA- Aa3 AA-
A.M. Best: A+ = Superior
Fitch: AA- = Very Strong
Moody’s: Aa3 = High Quality; A1 = Upper Medium
Standard & Poor’s: AA- = Very Strong
13. Regulations
Insurance companies are regulated by the State
Laws change based on the office location
Locations in 16 states including CA, CN, FL, GA, IL, IA, MA,
MO, NJ, NY, NC, OH, OK, PN, RI, and TX.
National Association of Insurance Commissioners
(NAIC) is the U.S. standard-setting and regulatory
support organization
Through the NAIC, state insurance regulators:
Establish standards and best practices
Conduct peer review
Coordinate their regulatory oversight