METLIFE PRESIDENT AND CEO STEVEN A. KANDARIAN CO-LEADS ECONOMIC POLICIES WORKING GROUP AT B20 MEETING, PROVIDING BUSINESS RECOMMENDATIONS TO G20 LEADERS
New York, November 3, 2011 – Steven A. Kandarian, president and chief executive officer of MetLife, Inc. (NYSE: MET), presented economic policy recommendations to the G20 in Cannes, France, today as part of the 2011 "B20 Summit" of business leaders.
The B20 Summit was formed to allow business leaders to provide policy ideas to heads of state and finance ministers of the world's largest economies. Kandarian was the co-convener, along with President Laurence Parisot of the French business association MEDEF, of the B20's Economic Policies working group. In Cannes, Kandarian presented the group's recommendations at roundtable discussions with Prime Minister Recep Tayyip Erdogan of Turkey and President Dmitry Medvedev of Russia.
"If our working group has a single message to the G20 today, it is that policymakers must balance the need to prevent another financial crisis with a focused commitment to private-sector economic growth," Kandarian said. "Only by achieving this balance can we meet our twin goals of assuring financial security and spurring job creation."
The Economic Policies working group made four overarching recommendations to the G20:
- Ensure sound public finance to boost long-term economic growth.
- Foster entrepreneurship, development of small- and medium-sized enterprises (SMEs), and job creation.
- Reduce the uncertainty hampering economic growth by communicating clear objectives, increasing transparency, and reinforcing International Monetary Fund (IMF) surveillance.
- Expand capital markets to promote long-term private investments.
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MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 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.