METLIFE TO PAY ELIGIBLE LIFE INSURANCE POLICYHOLDERS $1.5 BILLION IN POLICY DIVIDENDS
NEW YORK, June 07, 2011 – MetLife, Inc. (NYSE: MET) has announced that three of its life insurance subsidiaries (Metropolitan Life Insurance Company, New England Life Insurance Company, and General American Life Insurance Company), approved an aggregate payment amount of approximately $1.5 billion in policy dividend payments to eligible life insurance policyholders for 2011.
“Our public company’s disciplined practices continue to create efficiencies and benefits that we can pass on to our eligible policyholders. The size of the dividend pay-out – consistent with last year’s – is a testament to MetLife’s financial strength and stability, as well as our long term commitment to serving our policyholders,” said Todd Katz, executive vice president of MetLife U.S. Business. “MetLife has an unwavering commitment to bringing competitive life insurance products to market and to managing its business for the long-term performance required to support the valuable benefits provided by those products. We're also proud to accomplish this during these trying economic times and are glad to enjoy the financial efficiencies resulting from being a stock company that allow us to provide significant value to both our policyholders and our shareholders.”
Life insurance policy dividends are based on the performance of participating policies, including investment returns, mortality, persistency, and expenses, among other factors, and are therefore not guaranteed. Eligible life insurance policyholders include MetLife clients with certain in-force permanent life insurance policies, primarily whole life, and certain term life insurance policies. MetLife’s recently introduced Promise Whole LifeSM policy is designed, priced, and filed as a participating policy that is eligible to receive dividends in approved states.
MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 60 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. For more information, visit www.metlife.com.