In January 2016, we announced our intent to separate a substantial portion of our U.S. Retail business—a decision driven by a strategic review of our business and the impact of regulatory and economic factors. As a separate company, the U.S. Retail business will benefit from greater focus and more flexibility in products and operations. At the same time, the separation will bring significant benefits to MetLife as we focus even more intently on our group business in the U.S. and our international operations.
On March 6, 2017, the separated U.S. Retail business launched Brighthouse Financial – an independent company focused on life insurance and annuities. The name was chosen to capture the new entity’s optimistic outlook on what it will create for people’s financial futures, coupled with its guiding principles of simplicity, transparency, and value.