METLIFE ANNOUNCES PLANNED MERGER OF TWO SUBSIDIARIES
NEW YORK, January 16, 2018
MetLife, Inc. (NYSE: MET) today announced that it intends to merge its subsidiary, General American Life Insurance Company, with and into another subsidiary, Metropolitan Tower Life Insurance Company. Metropolitan Tower Life Insurance Company will continue as the surviving entity after the merger, and the merged entity will be domiciled in Nebraska. The transactions, which are subject to applicable regulatory approvals, are expected to be completed in the first half of 2018.
Following the decision to separate a substantial portion of its U.S. Retail segment, MetLife conducted a review of the entities out of which it does business, leading to the decision to merge the two subsidiaries. This restructuring simplifies and streamlines MetLife’s corporate and operational structure, ensuring that the company remains competitive, flexible and is in the best position to meet customer needs. All policy, contract, or certificate terms, conditions or benefits remain unchanged as a result of the transactions.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.