METLIFE STRENGTHENS AFFINITY AND SPECIALTY MARKETS DISTRIBUTION GROUP
NEW YORK, February 23, 2009 – In response to increasing market demand by member-based organizations for its financial protection products, MetLife, the largest U.S. life insurer and a leading provider of employee benefits, announced it has increased its focus on associations and other institutional groups such as multi-employer trusts, joint purchasing associations, and professional employer organizations (PEOs).
“In today’s economic climate, consumers are looking for access to products that can help them obtain financial security and peace of mind. For people who may not have access to this type of coverage at the workplace, leveraging the purchasing power of the associations they belong to can be a cost-effective way to help create a personal safety net,” said David Brennan, vice president, Affinity & Specialty Benefits, MetLife. “Membership in association groups continues to grow, and the restructuring of our Affinity and Specialty Benefits team allows us to best serve the needs of this expanding group market.”
In addition to MetLife Auto & Home’s auto and homeowners insurance products, which have been popular for years with members of association and affinity groups, MetLife’s extensive benefits portfolio for member-based organizations includes dental insurance, disability insurance, life insurance, critical illness insurance, and related products and services.
To support this expanding market area, MetLife has appointed Brendan Canning as national sales director, Affinity and Specialty Benefits Group. Canning, who has extensive group insurance sales experience, most recently served as an account executive for MetLife’s mid/large sales team. Canning is now responsible for delivering core product solutions to member-based organizations. Glenn Petersen, who was formerly national sales director for Executive Benefits with MetLife, has been named national sales director for Employee Paid Sales. He is now responsible for the auto, homeowners, critical illness and other benefits offerings for these types of organizations.
MetLife has developed an integrated sales and marketing approach to address the special needs of the member-based and affinity market. The new Affinity & Specialty Benefits team handles all the special needs of these organizations including contracts, compliance requirements, underwriting, service, and marketing requests related to MetLife’s traditional insurance products. The team works directly with the association or through a third party administrator to implement the benefits programs, reducing the association’s administrative burden.
MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading provider of insurance, employee benefits and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. Through its 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 and retirement & savings products and services to corporations and other institutions. For more information, visit www.metlife.com.