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 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
Reinsurance contracts are issued by Metropolitan Tower Life Insurance Company (“Met Tower”), Lincoln NE, a wholly owned subsidiary of MetLife. Met Tower is solely responsible for its financial condition and contractual obligations. Met Tower is not licensed or regulated by the U.K. Prudential Regulation Authority as an insurer or regulated by the Financial Conduct Authority, nor does it conduct business in the United Kingdom or provide direct insurance to any individual or entity therein.
Rothesay was established in 2007 and has become one of the leading providers of regulated insurance solutions in the U.K. market for pensions de-risking. This strong growth has been achieved through the steady accumulation of pension scheme clients, significant strategic acquisitions and the reinsurance of annuity portfolios. Rothesay has assets under management of £56bn and insures the pensions of over 800,000 individuals.
Existing Rothesay clients include the pension schemes and customers associated with such names as Asda, National Grid, Allied Domecq, Cadbury’s, Telent, Prudential, British Airways, Lehman Brothers, Aegon, Zurich Assurance the Post Office and the Civil Aviation Authority.
Rothesay was purpose built to protect people’s pensions through several core business principles:
- Clear and disciplined business strategy;
- Prudent underwriting;
- Meticulous management of risk and cautious investment strategy supporting enhanced customer security;
- Excellence in execution; and
- Robust operational processes underpinning excellent customer service
Rothesay has three substantial institutional shareholders, Blackstone, GIC and Massachusetts Mutual Life Insurance Company (“MassMutual”), who provide the company with long-term support for its growth and development. On 30 September, Rothesay announced the sale of Blackstone’s stake to GIC and MassMutual; this remains subject to regulatory approval.
Rothesay Life Plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number: 466067. Rothesay Life Plc is registered in England and Wales with company registration number: 06127279 and registered address: Rothesay Life Plc, The Post Building, 100 Museum Street, London WC1A 1PB. Further information is available at www.rothesay.com.
The forward-looking statements in this news release, such as “continue,” “opportunity,” “look forward,” and “will,” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it has no obligation to correct or update any of these statements.