METLIFE NAMED BEST MANAGED INSURANCE COMPANY BY FORBES
NEW YORK, January 02, 2008
MetLife, Inc. (NYSE: MET) has been named to Forbes’ list of America’s 400 Best Big Companies for 2008 and was also selected as the best managed company in the insurance industry. This is the first time the company has been selected as the best managed in its industry byForbes and the third time MetLife has appeared on the list.
In its evaluation of MetLife, Forbes noted that, since the company’s initial public offering in 2000, "…MetLife’s earnings per share have grown at a compound annual growth rate of 17%." The publication also recognized that "…MetLife has become a leader in insurance and retirement planning, and is the country’s largest individual and group life insurer."
"We’re extremely honored to be selected by Forbes as the best managed insurance company in America," said C. Robert Henrikson, chairman of the board, president and chief executive officer of MetLife, Inc. "MetLife is focused on delivering the best products and services for our clients, and this has translated into earnings growth and increased value for our shareholders. Our talented employees and distribution partners have enabled us to generate consistent, year-over-year top-line growth since becoming a public company in 2000. We’re excited about the future, expanding on our market leading positions in the U.S. and exporting our expertise to several international markets as well."
The insurance category of the Best Big Companies list consists of 18 insurers.
Forbes’ list of America’s 400 Best Big Companies identifies the best of the biggest publicly traded companies in America. Companies are selected after a thorough review of financial metrics, Wall Street forecasts, corporate governance ratings and other public information. From the Best Big Companies list,Forbes’ writers and editors select a best-managed company from each of 26 industries for financial performance, leadership, innovation and execution.
MetLife, Inc. is a leading provider of insurance and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. Through its domestic and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world and MetLife is the largest life insurer in the United States (based on life insurance in-force). The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement & savings products and services to corporations and other institutions. For more information, please visit www.metlife.com.
This release contains statements which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to trends in the operations and financial results and the business and the products of the company and its subsidiaries, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend" and other similar expressions. Forward-looking statements are made based upon management’s current expectations and beliefs concerning future developments and their potential effects on the company. Such forward-looking statements are not guarantees of future performance.
Actual results may differ materially from those included in the forward-looking statements as a result of risks and uncertainties including, but not limited to, the following: (i) changes in general economic conditions, including the performance of financial markets and interest rates; (ii) heightened competition, including with respect to pricing, entry of new competitors, the development of new products by new and existing competitors and for personnel; (iii) investment losses and defaults; (iv) unanticipated changes in industry trends; (v) catastrophe losses; (vi) ineffectiveness of risk management policies and procedures; (vii) changes in accounting standards, practices and/or policies; (viii) changes in assumptions related to deferred policy acquisition costs, value of business acquired or goodwill; (ix) discrepancies between actual claims experience and assumptions used in setting prices for the company’s products and establishing the liabilities for the company’s obligations for future policy benefits and claims; (x) discrepancies between actual experience and assumptions used in establishing liabilities related to other contingencies or obligations; (xi) adverse results or other consequences from litigation, arbitration or regulatory investigations; (xii) downgrades in the company’s and its affiliates’ claims paying ability, financial strength or credit ratings; (xiii) regulatory, legislative or tax changes that may affect the cost of, or demand for, the company’s products or services; (xiv) MetLife, Inc.’s primary reliance, as a holding company, on dividends from its subsidiaries to meet debt payment obligations and the applicable regulatory restrictions on the ability of the subsidiaries to pay such dividends; (xv) deterioration in the experience of the "closed block" established in connection with the reorganization of Metropolitan Life Insurance Company; (xvi) economic, political, currency and other risks relating to the company’s international operations; (xvii) the effects of business disruption or economic contraction due to terrorism or other hostilities; (xviii) the company’s ability to identify and consummate on successful terms any future acquisitions, and to successfully integrate acquired businesses with minimal disruption; and (xix) other risks and uncertainties described from time to time in MetLife, Inc.’s filings with the U.S. Securities and Exchange Commission. The company specifically disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.