MetLife, Inc. is the
holding corporation for the Metropolitan Life Insurance Company (MLIC), better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance,
annuities
In investment, an annuity is a series of payments made at equal intervals.Kellison, Stephen G. (1970). ''The Theory of Interest''. Homewood, Illinois: Richard D. Irwin, Inc. p. 45 Examples of annuities are regular deposits to a savings account, m ...
, and
employee benefit
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any othe ...
programs, with 90 million customers in over 60 countries.
The firm was founded on March 24, 1868.
MetLife ranked No. 43 in the 2018
Fortune 500
The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...
list of the largest United States corporations by total revenue.
On January 6, 1915, MetLife completed the
mutualization
A mutual organization, or mutual society is an organization (which is often, but not always, a company (law), company or business) based on the principle of mutuality and governed by private law. Unlike a true cooperative, members usually do not ...
process, changing from a stock life insurance company owned by individuals to a
mutual company
A mutual organization, or mutual society is an organization (which is often, but not always, a company or business) based on the principle of mutuality and governed by private law. Unlike a true cooperative, members usually do not contribute to ...
operating without external shareholders and for the benefit of policyholders.
After 85 years as a mutual company, MetLife
demutualized
Demutualization is the process by which a customer-owned mutual organization (''mutual'') or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, memb ...
into a
publicly traded company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...
with an
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
in 2000.
Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia's Pacific region, Europe, and the Middle East.
MetLife serves 90 of the largest
Fortune 500
The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...
companies.
The company's head offices and boardroom are located at the
MetLife Building
The MetLife Building (also 200 Park Avenue and formerly the Pan Am Building) is a skyscraper at Park Avenue and 45th Street, north of Grand Central Terminal, in the Midtown Manhattan neighborhood of New York City. Designed in the Internation ...
at 200 Park Avenue in
Midtown Manhattan
Midtown Manhattan is the central portion of the New York City borough of Manhattan and serves as the city's primary central business district. Midtown is home to some of the city's most prominent buildings, including the Empire State Buildin ...
and New York City which MetLife owned from 1981 to 2005; despite the sale, MetLife increased its leased footprint in the building beginning in 2015.
In January 2016, the company announced that it would spin off its U.S. retail business, including individual life insurance and annuities for the retail market, in a separate company called
Brighthouse Financial
Brighthouse Financial, Inc. () is one of the largest providers of annuities and life insurance in the U.S., with $219 billion in total assets and approximately 2.6 million insurance policies and annuity contracts in-force (as of March 31, 2018).
...
, which launched in March 2017. The continuing MetLife company kept naming rights to
MetLife Stadium
MetLife Stadium is a multi-purpose stadium at the Meadowlands Sports Complex in East Rutherford, New Jersey, 5 mi (8 km) west of New York City. Opened in 2010 to replace Giants Stadium, it serves as the home for the New York Giants an ...
in
East Rutherford, New Jersey
East Rutherford is a borough in Bergen County, New Jersey, United States. As of the 2020 U.S. census, the borough's population was 10,022, reflecting an increase of 1,109 (+12.4%) from the 8,913 counted in the 2010 census. .
Corporate structure
, the company was "organized into five segments: Insurance Products, Retirement Products," the US Business (including Auto & Home and Corporate Benefit Funding), and International.
The Insurance Products division was the largest unit, accounting for 53% of 2009 revenue.
By 2015, a division referred to as "Americas" had emerged.
Corporate governance
As of May 2019, MetLife's chief executive officer was Michel A. Khalaf and its non-executive chairman of the board was
Glenn Hubbard Glenn Hubbard may refer to:
*Glenn Hubbard (baseball) (born 1957), American baseball player
*Glenn Hubbard (economist)
Robert Glenn Hubbard (born September 4, 1958) is an American economist and academic. He served as the Dean of the Columbia Univ ...
.
In 2015, MetLife hired Hugh Dineen to fill the new role of
chief marketing officer
A chief marketing officer (CMO), also called a global marketing officer or marketing director, or chief brand officer, is a corporate executive responsible for managing marketing activities in an organization. Whilst historically these titles may ...
within the US Business Unit.
As in many large, public corporations, MetLife has a
compensation committee
Executive compensation is composed of both the financial compensation (executive pay) and other non-financial benefits received by an executive from their employing firm in return for their service. It is typically a mixture of fixed salary, variab ...
which establishes compensation levels for the company's senior executives; MetLife compensation emphasizes "variable performance-based compensation over fixed or guaranteed pay".
Subsidiary and affiliate companies
MetLife subsidiaries and affiliates have included MetLife Investors, MetLife Bank, MetLife Securities, Metropolitan Property and Casualty Insurance Company and its subsidiaries, General American, MetLife Legal Plans, MetLife Resources, New England Financial, Walnut Street Securities, Inc., Safeguard Health Enterprises, Inc., and Tower Square Securities, Inc., Cigna.
[
]
The subsidiary MetLife Insurance Company USA, as of 2015 headquartered in
Charlotte, North Carolina
Charlotte ( ) is the most populous city in the U.S. state of North Carolina. Located in the Piedmont region, it is the county seat of Mecklenburg County. The population was 874,579 at the 2020 census, making Charlotte the 16th-most populo ...
, was formerly known as MetLife Insurance Company of Connecticut, and prior to this as
Travelers Insurance Company
The Travelers Companies, Inc., commonly known as Travelers, is an American insurance company. It is the second-largest writer of U.S. commercial property casualty insurance, and the sixth-largest writer of U.S. personal insurance through indepen ...
.
MetLife Bank was sold to
GE Capital
GE Capital is the financial services division of General Electric.
The company currently only runs one division, GE Energy Financial Services. It had provided additional services in the past; however, those units were sold between 2013 and 2018 ...
in 2013, and MetLife exited the banking business.
Metlife in partnership with
Tishman Realty & Construction
Tishman Realty & Construction Co., Inc. is an American corporation founded in 1898 that owns and develops real estate. The company is known for being the contractor that built the original World Trade Center in New York City. Tishman Constructio ...
co-owns the
Walt Disney World
The Walt Disney World Resort, also called Walt Disney World or Disney World, is an entertainment resort complex in Bay Lake and Lake Buena Vista, Florida, United States, near the cities of Orlando and Kissimmee. Opened on October 1, 1971, th ...
Swan
Swans are birds of the family (biology), family Anatidae within the genus ''Cygnus''. The swans' closest relatives include the goose, geese and ducks. Swans are grouped with the closely related geese in the subfamily Anserinae where they form t ...
and
Dolphin
A dolphin is an aquatic mammal within the infraorder Cetacea. Dolphin species belong to the families Delphinidae (the oceanic dolphins), Platanistidae (the Indian river dolphins), Iniidae (the New World river dolphins), Pontoporiidae (the ...
resort in
Lake Buena Vista, Florida
Lake Buena Vista () is a city in Orange County, Florida, United States. It is mostly known for being the mailing address for Walt Disney World—although almost all of the resort facilities, including all four theme parks, are physically located i ...
. The land on which the hotels are located on is owned by
The Walt Disney Company
The Walt Disney Company, commonly known as Disney (), is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California. Disney was originally founded on October ...
and is leased to Metlife and Tishman (which owns the buildings) and operated by
Marriott International
Marriott International, Inc. is an American multinational corporation, multinational company that operates, franchises, and licenses lodging including hotel, residential, and timeshare properties. It is headquartered in Bethesda, Maryland. T ...
as a
Westin
Westin Hotels & Resorts is an American upscale hotel chain owned by Marriott International. , the Westin Brand has 226 properties with 82,608 rooms in multiple countries in addition to 58 hotels with 15,741 rooms in the pipeline.
History Wester ...
hotel.
History
Early years
![Tichnor Brothers New England Mutual Life front](https://upload.wikimedia.org/wikipedia/commons/3/39/Tichnor_Brothers_New_England_Mutual_Life_front.jpg)
The predecessor company to MetLife began in 1863 when a group of New York City businessmen raised $100,000 to found the National Union Life and Limb Insurance Company. The company insured
Civil War
A civil war or intrastate war is a war between organized groups within the same state (or country).
The aim of one side may be to take control of the country or a region, to achieve independence for a region, or to change government policies ...
sailors and soldiers against disabilities due to wartime wounds, accidents, and sickness. On March 24, 1868, it became known as Metropolitan Life Insurance Company and shifted its focus to the life insurance business.
![Metropolitan Life Insurance Company Tower at Night with Fog](https://upload.wikimedia.org/wikipedia/commons/2/28/Metropolitan_Life_Insurance_Company_Tower_at_Night_with_Fog.jpg)
A severe business depression that began with the
Panic of 1873
The Panic of 1873 was a financial crisis that triggered an economic depression in Europe and North America that lasted from 1873 to 1877 or 1879 in France and in Britain. In Britain, the Panic started two decades of stagnation known as the "Lon ...
forced the company to contract, until it reached its lowest point in the late 1870s. After observing the insurance industry in Great Britain in 1879, MetLife President Joseph F. Knapp brought “industrial” or “workingmen's” insurance programs to the United States – insurance issued in small amounts on which premiums were collected weekly or monthly at the policyholder's home. By 1880, sales had exceeded a quarter million of such policies, resulting in nearly $1 million in revenue from premiums. In 1909, MetLife had become the nation's largest life insurer in the United States, as measured by life insurance in force (the total value of life insurance policies issued).
In 1890, the Metropolitan Life Insurance Company Building
The Metropolitan Life Insurance Company Tower (colloquially known as the Met Life Tower and also as the South Building) is a skyscraper occupying a full block in the Flatiron District of Manhattan in New York City. The building is composed of ...
was commissioned to serve as MetLife's home office on 23rd Street in Manhattan. The building was completed in stages through 1905. A clock tower was commissioned adjacent to the home office in 1907, and when completed two years later, the building was the world's tallest until 1913. The home office complex, which came to include the Metropolitan Life North Building
The Metropolitan Life North Building, now known as Eleven Madison, is a 30-story art deco skyscraper in the Flatiron District adjacent to Madison Square Park in Manhattan, New York City, at 11-25 Madison Avenue. The building is bordered by Eas ...
remained the company's headquarters until 2005. For many years, an illustration of the Metropolitan Life Tower (with light emanating from the tip of its spire and the slogan, "The Light That Never Fails") featured prominently in MetLife's advertising.
In 1905, MetLife faced lost a legal case, ''Pavesich v. New England Life Insurance Company
''Pavesich v. New England Life Insurance Company'' was a court case decided by the Supreme Court of Georgia (U.S. state), Georgia Supreme Court in 1905. It is noteworthy as one of the first explicit endorsements of the right to privacy as derived ...
'', where they attempted to use an image of another person for promotion but this was ruled a breach of privacy and libelous: this case became a standardly cited case on privacy in US law.
By 1930, MetLife insured one of five men, women, and children in the United States and Canada. During the 1930s, it also began to diversify its portfolio by reducing the percentage of individual mortgages in favor of public utility bonds, investments in government securities, and loans for commercial real estate. The company financed the Empire State Building
The Empire State Building is a 102-story Art Deco skyscraper in Midtown Manhattan, New York City. The building was designed by Shreve, Lamb & Harmon and built from 1930 to 1931. Its name is derived from "Empire State", the nickname of the st ...
's construction in 1929 as well as provided capital for Rockefeller Center
Rockefeller Center is a large complex consisting of 19 commerce, commercial buildings covering between 48th Street (Manhattan), 48th Street and 51st Street (Manhattan), 51st Street in Midtown Manhattan, New York City. The 14 original Art Deco ...
's construction
Construction is a general term meaning the art and science to form objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Press 2009 and com ...
in 1931. During World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
, MetLife placed more than 51 percent of its total assets in war bonds and was the largest single private contributor to the Allied
An alliance is a relationship among people, groups, or states that have joined together for mutual benefit or to achieve some common purpose, whether or not explicit agreement has been worked out among them. Members of an alliance are called ...
cause.
Postwar
During the post-war era, the company expanded its suburban presence, decentralized operations, and refocused its career agency system to serve all market segments. It also began to market group insurance products to employers and institutions. By 1979, operations were segmented into four primary businesses: group insurance, personal insurance, pensions, and investments.[ In 1981 MetLife purchased the ]Pan Am Building
The MetLife Building (also 200 Park Avenue and formerly the Pan Am Building) is a skyscraper at Park Avenue and 45th Street, north of Grand Central Terminal, in the Midtown Manhattan neighborhood of New York City. Designed in the Internation ...
from a group that included Pan American World Airways
Pan American World Airways, originally founded as Pan American Airways and commonly known as Pan Am, was an American airline that was the principal and largest international air carrier and unofficial overseas flag carrier of the United States ...
for the price of $400 million. The building was subsequently renamed and the prominently displayed Pan Am logo was replaced with the MetLife logo.
De-mutualization and IPO
In 2000, MetLife converted from a mutual insurance company operated for the benefit of its policyholders to a for-profit public company. The de-mutualization process allowed MetLife to enter unrelated insurance businesses and increase executive compensation.
Policyholders received some stock in the new company in this process. MetLife was accused of breaching federal securities laws by misrepresenting and omitting information in materials given to policyholders during this process, resulting in years of litigation ending with a $50 million settlement in 2009.
Acquisitions, sales, and major deals
* 1992 - merged with United Mutual Life Insurance Company, the only African-American life insurer in New York, in 1992.
* 1992 - acquired Executive Life's single premium deferred annuity
In investment, an annuity is a series of payments made at equal intervals.Kellison, Stephen G. (1970). ''The Theory of Interest''. Homewood, Illinois: Richard D. Irwin, Inc. p. 45 Examples of annuities are regular deposits to a savings account, mo ...
business, which was worth approximately $1.2 billion. MetLife also acquired the firm's life insurance business, valued at about $260 million.
* 1995 - sold Century 21 to Cendant
Cendant Corporation was an American provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, it broke up and spun off or sold its constituent businesses. Although it was based in New Yo ...
(known as Hospitality Franchise Systems at the time) while purchasing New England Mutual Life Insurance Company.
* 1997 - acquired Security First Group in 1997 for $377 million.
* 1999 - acquired Lincoln National Corporation
Lincoln National Corporation is a ''Fortune'' 200 American holding company, which operates multiple insurance and investment management businesses through subsidiary companies. Lincoln Financial Group is the marketing name for LNC and its subsi ...
's individual disability income unit.
* 1999 - bought out reinsurance provider GenAmerica Corporation for $1.2 billion, as well as its subsidiaries, Reinsurance Group of America
Reinsurance Group of America, Incorporated (NYSE: RGA) is a holding company for a global life and health reinsurance entity based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $3.5 tril ...
and Conning Corporation. That year, the company had grown to serve 7 million policyholders.
* 2000 - de-mutualization and IPO. The initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
was valued at $6.5 billion, which was the largest IPO to that date in United States financial history.[ MetLife policyholders were asked to choose a cash or stock stake. This IPO made MetLife the most widely owned stock in the United States, and it raised MetLife's value to over $4 billion.] By 2000, MetLife's reported number of policyholders had risen to 11 million,[ and that year it had become the United States' number one life insurer, surpassing Prudential, according to '']The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...
''.
* 2000 - $470 million voice and data network management deal with AT&T Solutions.
* 2001 - acquired Grand Bank of Kingston, New Jersey
Kingston is an unincorporated community and census designated place (CDP) along the border of South Brunswick Township in Middlesex County and Franklin Township in Somerset County, and also located relatively near Princeton in Mercer Count ...
, which was renamed MetLife Bank.
* 2001 - invested $1 billion in the United States stock market during 2001, immediately after the September 11 terrorist attacks
The September 11 attacks, commonly known as 9/11, were four coordinated suicide terrorist attacks carried out by al-Qaeda against the United States on Tuesday, September 11, 2001. That morning, nineteen terrorists hijacked four commercial ...
.
* 2005 - acquired Citigroup
Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking ...
’s Travelers Life & Annuity and all of Citigroup's international insurance businesses for $11.8 billion. At the time of the deal, which was completed on July 1, 2005, the Travelers acquisition made MetLife the largest individual life insurer in North America based on sales.
* 2006 - opened joint-venture insurance company in Shanghai, in May 2006.
* 2006 - sold Peter Cooper Village, or Stuyvesant Town, the largest apartment complexes in New York City at the time, for $5.4 billion. MetLife had developed the apartment complexes between 1945 and 1947, to house veterans returning home from serving in World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
.
* 2010 - bought American Life Insurance Company
MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company (MLIC), better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, wi ...
from AIG
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. , AIG companies employed 49,600 people.https://www.aig.com/content/dam/aig/amer ...
for .[
* 2011 - sold MetLife bank to ]GE Capital
GE Capital is the financial services division of General Electric.
The company currently only runs one division, GE Energy Financial Services. It had provided additional services in the past; however, those units were sold between 2013 and 2018 ...
, exiting banking business.
*2021 - Farmers Insurance Group acquired the MetLife Auto & Home business from MetLife, Inc.
Current era
From 2004 to 2011, MetLife continued to hold its position as the largest life insurer in the United States. The company had $2.5 trillion in policies written, $350 billion in assets under management, over 12 million customers in the United States, 8 million customers outside the United States, and a net income in 2003 of $2.2 billion.[ That year, '']Barron's Barron's or Barrons may refer to:
*Barron's Educational Series, a publisher of books, as well as college entrance exam preparation classes and materials, now an imprint of Kaplan Test Prep
** B.E.S. Publishing, the former owner of Barron's
* ''Barr ...
'' reported that 13 million American households owned at least one product from MetLife.
MetLife named Robert H. Benmosche as chairman and CEO in July 1999. Benmosche occupied the position until 2006, when he was replaced by C. Robert Henrikson
Carl "Rob" Robert Henrikson (born May 21, 1947) was the Chairman of the Board, President and Chief Executive Officer of MetLife, Inc. Henrikson was appointed CEO on March 1, 2006 and Chairman of the Board on April 25, 2006. Henrikson was succ ...
.
The company's sales grew 11.5% between 2008 and 2009, despite the national recession. In 2011, CEO Robert Henrikson was replaced by Steven A. Kandarian, who had overseen the company's " investment portfolio" as chief investment officer The chief investment officer (CIO) is a job title for the board level head of investments within an organization. The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as ...
. Henrikson remained the company's chairman to the end of 2011, at which point he reached the company's mandatory retirement age
Mandatory retirement also known as forced retirement, enforced retirement or compulsory retirement, is the set age at which people who hold certain jobs or offices are required by industry custom or by law to leave their employment, or retire.
As ...
.
In 2015, MetLife was ranked as number one on ''Fortune'' magazine's list of World's Most Admired Companies in the Insurance: Life and Health category.
In the summer of 2017, MetLife plans to add a third office building of 255,000 square feet at its Cary, North Carolina
Cary is a town in Wake and Chatham counties in the U.S. state of North Carolina and is part of the Raleigh–Cary, NC Metropolitan Statistical Area. According to the 2020 Census, its population was 174,721, making it the seventh largest muni ...
Global Technology Campus, giving the company a total of 655,000 square feet at a location which has over 1,000 employees in such areas as engineering, software and technology. This plan was the result of North Carolina awarding the company $94 million in incentives in 2013 for creating over 2,600 jobs, half in Cary and half in Charlotte
Charlotte ( ) is the List of municipalities in North Carolina, most populous city in the U.S. state of North Carolina. Located in the Piedmont (United States), Piedmont region, it is the county seat of Mecklenburg County, North Carolina, Meckl ...
.
"Too big to fail"
In 2012, MetLife failed the Federal Reserve's (the Fed's) Comprehensive Capital Analysis and Review
Comprehensive Capital Analysis and Review (CCAR) is a United States regulatory framework introduced by the Federal Reserve in 2009 to assess, regulate, and supervise large banks and financial institutions – collectively referred to in the frame ...
stress test, intended to predict the potential failure of the company in a recession. The Fed stated that the minimum total risk-based capital ratio should be 8% and it estimated MetLife's ratio at 6%. The company had requested approval for a share repurchase
Share repurchase, also known as share buyback or stock buyback, is the re-acquisition by a company of its own shares. It represents an alternate and more flexible way (relative to dividends) of returning money to shareholders. When used in coord ...
to prop up the stock price, along with an increased dividend. Because MetLife owned MetLife Bank, it was subject to stricter financial regulation. To escape that level of regulation, MetLife announced the sale of its banking unit to GE Capital
GE Capital is the financial services division of General Electric.
The company currently only runs one division, GE Energy Financial Services. It had provided additional services in the past; however, those units were sold between 2013 and 2018 ...
. On November 2, 2012, MetLife said it was selling its mortgage servicing business to JPMorgan Chase
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...
for an undisclosed amount. Both sales were part of its strategy to focus on the insurance side of its business.
The attempt to escape "too big to fail
"Too big to fail" (TBTF) and "too big to jail" is a theory in banking and finance that asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the great ...
" regulation was not successful. In September 2014, the United States government observed the 2010 Dodd-Frank financial reform law by proposing the application of an official label to MetLife as " systemically important" to the American economy. If implemented, MetLife would be subject to different sets of rules and regulations, with increased oversight from the Federal Reserve
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...
. The company appealed this proposal in November 2014. In December 2014, federal regulators decided that MetLife required the special regulations reserved for financial companies and organizations deemed "systemically important," or "too big to fail". MetLife announced in January 2015 that it would file a lawsuit with the U.S. District Court for the District of Columbia to overturn the federal regulators' decision,[ thus becoming the first nonbank to challenge such a decision.] Three other nonbank companies have been designated as "systemically important": AIG
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. , AIG companies employed 49,600 people.https://www.aig.com/content/dam/aig/amer ...
, General Electric
General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable energ ...
and Prudential. MetLife continued to litigate this issue as of mid-2015, with the US Department of Justice
The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the United States government tasked with the enforcement of federal law and administration of justice in the United State ...
asking that their challenge be dismissed.
Fines
On August 7, 2012, it was announced that MetLife will pay $3.2 million in fines after the Federal Reserve
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...
charged it used unsafe and unsound practices in handling its mortgage servicing and foreclosure operations.
In 2014, MetLife paid $23 million to settle multiple lawsuits over junk fax
Junk faxes are a form of telemarketing where unsolicited advertisements are sent via fax transmission. Junk faxes are the faxed equivalent of spam or junk mail. Proponents of this advertising medium often use the terms ''broadcast fax'' or ''fax a ...
operations used to generate leads for life insurance sales.
In 2015, MetLife Home Loans LLC paid $123.5 million to the United States Department of Justice
The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the United States government tasked with the enforcement of federal law and administration of justice in the United State ...
to resolve allegations it knowingly made mortgages insured by the United States government that didn't meet federal underwriting requirements.
Products and services
, MetLife had a "diverse product mix" which included insurance (home
A home, or domicile, is a space used as a permanent or semi-permanent residence for one or many humans, and sometimes various companion animals. It is a fully or semi sheltered space and can have both interior and exterior aspects to it. H ...
, car
A car or automobile is a motor vehicle with wheels. Most definitions of ''cars'' say that they run primarily on roads, seat one to eight people, have four wheels, and mainly transport people instead of goods.
The year 1886 is regarded as ...
and life
Life is a quality that distinguishes matter that has biological processes, such as signaling and self-sustaining processes, from that which does not, and is defined by the capacity for growth, reaction to stimuli, metabolism, energ ...
), variable life annuities and structured settlements
A structured settlement is a negotiated financial or insurance arrangement through which a claimant agrees to resolve a personal injury tort claim by receiving part or all of a settlement in the form of periodic payments on an agreed schedule, rat ...
, commercial mortgages
A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping center, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, or ...
and securities backed by commercial mortgages, and sovereign debt
A country's gross government debt (also called public debt, or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit oc ...
.
Life insurance
MetLife's individual life insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...
products and services comprise term life insurance
Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guarant ...
and several types of permanent life insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...
, including whole life, universal life, and final expense whole life insurance. These services vary in regards to the duration and amount of coverage available and whether a medical exam is required for coverage. The company also offers group life insurance, provided through employers, which consists of term life, permanent life, and accidental death and dismemberment coverage. MetLife is the largest life insurer in the United States, based on life insurance in-force.[
]
Dental
MetLife offers group dental benefit plans for individuals, employees, retirees and their families and provides dental plan administration for over 20 million people. Plans include MetLife's Preferred Dentist Program (PPO) and the SafeGuard DHMO (available for both individuals and employees in CA, FL, TX, NJ and NY.). As of May 2010, MetLife's dental PPO network included over 135,000 participating dentist locations nationwide while the dental HMO
In the United States, a health maintenance organization (HMO) is a medical insurance group that provides health services for a fixed annual fee. It is an organization that provides or arranges managed care for health insurance, self-funded heal ...
network included more than 13,000 participating dentist locations in California, Florida and Texas
Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...
. MetLife also administers dental continuing education program for dentists and allied health care professionals, which are recognized by the American Dental Association
The American Dental Association (ADA) is an American professional association established in 1859 which has more than 161,000 members. Based in the American Dental Association Building in the Near North Side of Chicago, the ADA is the world's ...
(ADA) and the Academy of General Dentistry
The Academy of General Dentistry (AGD) is a professional association of general dentists from Canada and the United States.
History and mission
The academy was incorporated on August 2, 1952.
Paula Jones became its first female president in 20 ...
(AGD).
Disability
MetLife provides disability products for individuals as well as employee and association groups who receive them through their employer. For individuals, the company's individual disability income insurance can replace a portion of lost income if an individual is unable to work due to sickness or injury. MetLife offers several individual disability income policies, including MetLife Income Guard, OMNI Advantage, OMNI Essential, Business Overhead Expense, and Buy-Sell. The policy options provided by the company vary in terms of eligibility and the provided coverage. For groups, MetLife offers short term disability insurance and long term disability insurance. Short term disability insurance is structured to replace a portion of an individual's income during the initial weeks of a disabling illness or accident. Long term disability Insurance serves to replace a portion of an individual's income during an extended period of a disabling illness or accident
An accident is an unintended, normally unwanted event that was not directly caused by humans. The term ''accident'' implies that nobody should be blamed, but the event may have been caused by unrecognized or unaddressed risks. Most researcher ...
. The company also maintains an absence management product which allows employers to track and manage both planned and unplanned employee absences. The product, which MetLife calls MetLife Total Absence Management, is structured for businesses with 1,000 or more employees.
Annuities
MetLife is among the largest providers of annuities
In investment, an annuity is a series of payments made at equal intervals.Kellison, Stephen G. (1970). ''The Theory of Interest''. Homewood, Illinois: Richard D. Irwin, Inc. p. 45 Examples of annuities are regular deposits to a savings account, m ...
in the world, recording $22.4 billion in sales during 2009. MetLife offers annuities which consist of fixed annuities, variable annuities, deferred annuities and immediate annuities. In 1921, MetLife was the first company to issue a group annuity contract. More recently in 2004, it was the first insurer to introduce a longevity insurance product. As of December 31, 2009, MetLife globally managed group annuity assets of $60 billion with $34 billion of transferred pension liabilities and provided benefit payments to over 600,000 annuitants per month.
Auto & Home
MetLife Auto & Home is the brand name for MetLife's nine affiliate personal lines insurance companies. Collectively these companies offer personal lines property and casualty insurance policies in all 50 states and the District of Columbia. The flagship company in the MetLife Auto & Home group, Metropolitan Property and Casualty Insurance Company, was founded in 1972.[ MetLife Auto & Home companies presently have over 2.7 million active policies and service 58 of the Fortune 100 companies.]
MetLife's home insurance includes homeowners insurance, condo insurance, renters insurance Renters' insurance, often called tenants' insurance, is an insurance policy that provides some of the benefits of homeowners' insurance, but does not include coverage for the dwelling, or structure, with the exception of small alterations that a ten ...
, insurance for landlords, and mobile home insurance. The available policies for MetLife's home insurance provide coverage for possessions, property damage from natural disaster or theft, and various legal expenses incurred resulting from injuries sustained on an individual's property. The companies also sell RV, ATV, boat, mobile home, collectible vehicle, and motorcycle policies and offers flood insurance policies as a participant in the National Flood Insurance Program
The National Flood Insurance Program (NFIP) is a program created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968 (P.L. 90-448). The NFIP has two purposes: to share the risk of flood losses through floo ...
(NFIP), which is managed by the federal government. MetLife's various types of coverage for auto insurance include liability protection, collision and comprehensive coverage, personal injury protection, rental car coverage, and uninsured and underinsured motorists coverage. Through an arrangement with Hyatt Legal Plans, a subsidiary of MetLife, MetLife Auto & Home underwrites group legal plans in many states.
It was the first national insurer in the United States to offer identity-theft resolution services at no extra premium and as of 2012 continues to do so today in most United States states. In 2010, MetLife Auto & Home began offering their GrandProtect plan in most states. This GrandProtect policy simplifies complex insurance needs by combining a client's home, valuable items, autos, RVs, and boats into one comprehensive policy package. The ultimate benefits to the consumer are having one bill, only one deductible, comprehensive coverage, and typically lower rates than trying to get each policy individually.
On December 11, 2020, Farmers Insurance Group, which is owned by Zurich Insurance agreed to purchase MetLife’s auto and home insurance business for $3.94 billion. At the time of announcement, MetLife auto and home was 18th largest auto insurer in the U.S, with a presence in all 50 states writing $2.4 billion in auto premiums in 2019. Farmers Insurance Group
Farmers Insurance Group (informally Farmers) is an American insurer group of vehicles, homes and small businesses and also provides other insurance and financial services products. Farmers Insurance has more than 48,000 exclusive and independen ...
completed it's purchase of MetLife's auto and home books of business on April 8, 2021. As part of the transaction, Farmers secured a 10-year marketing agreement with MetLife to offer Farmers products on MetLife’s group benefits platform, currently serving over 3,800 employers and 37 million employees of the companies utilizing MetLife to provide employee benefits. Farmers acquired MetLife policies as is, with no immediate intentions on changing the policy terms of existing MetLife customers to match those of current Farmers policies.
Other products
MetLife's products also include critical illness insurance
Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the ...
. Financial services include fee-based financial planning, retirement planning, wealth management, 529 Plans, banking, and commercial and residential mortgages
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any pu ...
. The company also provides retirement plan and other financial services to healthcare, education, and not-for-profit organizations. The MetLife Center for Special Needs Planning is a group of planners which serve families and individuals with special needs. In 2014, MetLife launched MetLife Defender, a digital identity theft
Identity theft occurs when someone uses another person's personal identifying information, like their name, identifying number, or credit card number, without their permission, to commit fraud or other crimes. The term ''identity theft'' was co ...
protection product.
International presence
Outside of the United States, MetLife operates in Latin America, Europe, Asia's Pacific region, and the Middle East, with leading market positions in Mexico, Japan, South Korea and Chile.
On March 8, 2010, MetLife announced its intent to purchase the international leader life-insurance business, American Life Insurance Company (Alico), from American International Group
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. , AIG companies employed 49,600 people.https://www.aig.com/content/dam/aig/amer ...
(AIG). MetLife, which completed the deal on November 1, 2010, paid approximately $7.2 billion in cash and $9.0 billion in MetLife equity and other securities. The securities portion of the deal consisted of 78.2 million shares of MetLife common stock, 6.9 million shares of contingent convertible preferred stock and 40 million equity units. The values of the common and preferred stock were based on the closing price of MetLife's common stock on October 29.[ Upon completion of the purchase, MetLife became a leading competitor in Japan, the world's second-largest life insurance market, and moved into a top 5 market position in many high growth emerging markets in ]Central
Central is an adjective usually referring to being in the center of some place or (mathematical) object.
Central may also refer to:
Directions and generalised locations
* Central Africa, a region in the centre of Africa continent, also known as ...
and Eastern Europe, such as Romania
Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...
, the Middle East
The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabia (including the Arabian Peninsula and Bahrain), Asia Minor (Asian part of Turkey except Hatay Province), East Thrace (Europea ...
and Latin America. The deal added 20 million customers to MetLife's 70 million and according to ''Barron's'' more than doubled the percentage of operating profits that MetLife gets abroad to 40%.[
In India MetLife has an affiliate company ''India Insurance Company Limited (MetLife)'' which has operated in India since 2001. This company has its headquarters in Bangalore and Gurgaon and was jointly owned by MetLife and a few local Indian financial companies. In 2012 an agreement was made with local Indian bank, the ]Punjab National Bank
Punjab National Bank (abbreviated as PNB) is an Indian public sector bank headquartered in Delhi. The bank was founded in May 1894 and is the second largest government-owned bank in India, both in terms of its business volumes and its network ...
to establish a strategic alliance and for it to take a 30% share in MetLife India. The state owned bank would in return sell MetLife insurance products in its branches
As of 2015, Julio Garcia-Villalon leads the Middle East & Africa regional business, which is headquartered in the Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is a special economic zone in Dubai covering , established in 2004 as a financial hub for companies operating throughout the Middle East, Africa and South Asia (MEASA) markets. DIFC is regulated by ...
and has operated in the region since the 1950s.
MetLife Foundation
MetLife Foundation is MetLife's independent charitable and grant-awarding foundation
Foundation may refer to:
* Foundation (nonprofit), a type of charitable organization
** Foundation (United States law), a type of charitable organization in the U.S.
** Private foundation, a charitable organization that, while serving a good cause ...
. It was founded in 1976 and had provided over $650 million in grants by January 2015.[ The foundation has partnered with and donated to a variety of organizations, including ]Habitat for Humanity
Habitat for Humanity International (HFHI), generally referred to as Habitat for Humanity or Habitat, is a US non-governmental, and nonprofit organization which was founded in 1976 by couple Millard and Linda Fuller. Habitat for Humanity is a Ch ...
since 2010 and the Martin Luther King, Jr. National Memorial Project Foundation since 2008. In 2013, the MetLife Foundation announced a new focus on financial inclusion
Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and service ...
, including educational programs on basic financial planning for disadvantaged children and financial services aimed at low-income communities. According to the OECD
The Organisation for Economic Co-operation and Development (OECD; french: Organisation de coopération et de développement économiques, ''OCDE'') is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate e ...
, MetLife Foundation’s financing for 2019 development increased by 20% to US$14 million.
Relationship with ''Peanuts''
MetLife's use of comic strip characters since the mid 1980s, according to chief marketing officer
A chief marketing officer (CMO), also called a global marketing officer or marketing director, or chief brand officer, is a corporate executive responsible for managing marketing activities in an organization. Whilst historically these titles may ...
Esther Lee, was intended "to make our company more friendly and approachable during a time when insurance companies were seen as cold and distant."[
MetLife licensed ]Snoopy
Snoopy is an anthropomorphic beagle in the comic strip ''Peanuts'' by Charles M. Schulz. He can also be found in all of the ''Peanuts'' films and television specials. Since his debut on October 4, 1950, Snoopy has become one of the most recog ...
and other ''Peanuts
''Peanuts'' is a print syndication, syndicated daily strip, daily and Sunday strip, Sunday American comic strip written and illustrated by Charles M. Schulz. The strip's original run extended from 1950 to 2000, continuing in reruns afterward. ' ...
'' characters for promotional purposes from the Iconix Brand Group
Iconix Brand Group is an American brand management company that licenses brands to retailers and manufacturers primarily in the apparel, footwear, and apparel accessory industries. Its brands are available in such stores as Kohl's, Kmart, Sear ...
, which owns the promotional rights to the works of Charles M. Schulz
Charles Monroe "Sparky" Schulz (; November 26, 1922 – February 12, 2000) was an American cartoonist and the creator of the comic strip ''Peanuts'', featuring what are probably his two best-known characters, Charlie Brown and Snoopy. He is wi ...
. In 2010, Iconix formed a joint venture with Schulz's heirs (as Charles Schulz himself died in 2000), buying out E. W. Scripps
Edward Willis Scripps (June 18, 1854 – March 12, 1926), was an American newspaper publisher and, together with his sister Ellen Browning Scripps, founder of The E. W. Scripps Company, a diversified media conglomerate, and United Press ne ...
Co. and United Features Syndicate
United Feature Syndicate (UFS) is a large American editorial column and comic strip newspaper syndication service based in the United States and established in 1919. Originally part of E. W. Scripps Company, it was part of United Media (along ...
for $175 million. MetLife was reported to pay $12 million per year to Iconix for licensing rights. Prior to the Iconix deal, MetLife had licensed the characters from other rights-holders.
The Peanuts-based campaign was developed by the advertising agency Young & Rubicam
VMLY&R is an American marketing and Marketing communications, communications company specializing in advertising, Digital media, digital and social media, sales promotion, direct marketing and brand identity consulting, formed from the merger of ...
. MetLife also has used Foote Cone & Belding to develop Peanuts-related promotions.
MetLife announced the end of its 31-year relationship with ''Peanuts
''Peanuts'' is a print syndication, syndicated daily strip, daily and Sunday strip, Sunday American comic strip written and illustrated by Charles M. Schulz. The strip's original run extended from 1950 to 2000, continuing in reruns afterward. ' ...
'' on October 20, 2016. This decision resulted from the company's sale of its life insurance business to concentrate on corporate clients. MetLife's new blue and green logo was criticized for being a knock-off of comparison website Diffen.
Blimp and sports sponsorship
The MetLife blimp program began in 1987 with the “Snoopy 1” airship and, in 1994, expanded to include the “Snoopy 2” airship. The program provided aerial coverage to over 80 major sporting events every year and became the official aerial coverage provider of the PGA Tour. “Snoopy 1” and “Snoopy 2” also provided overhead television coverage for the NFL, CBS
CBS Broadcasting Inc., commonly shortened to CBS, the abbreviation of its former legal name Columbia Broadcasting System, is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainm ...
College Football, the LPGA
The Ladies Professional Golf Association (LPGA) is an American organization for female golfers. The organization is headquartered at the LPGA International in Daytona Beach, Florida, and is best known for running the LPGA Tour, a series of weekl ...
, the NBA Finals
The NBA Finals is the annual championship series of the National Basketball Association (NBA). The Eastern and Western Conference champions play a best-of-seven game series to determine the league champion. The team that wins the series is awa ...
, Copa Chile
The Copa Chile (''Chile Cup'') is an annual cup competition for Chilean football teams. Due to time constraints and club pressure, the trophy was cancelled in 2000, but returned in 2008. Its precursor was the Campeonato de Apertura (''Opening Ch ...
, the Preakness Stakes
The Preakness Stakes is an American thoroughbred horse race held on Armed Forces Day which is also the third Saturday in May each year at Pimlico Race Course in Baltimore, Maryland. It is a Grade I race run over a distance of 9.5 furlongs () on ...
, and the Kentucky Derby
The Kentucky Derby is a horse race held annually in Louisville, Kentucky, United States, almost always on the first Saturday in May, capping the two-week-long Kentucky Derby Festival. The competition is a Grade I stakes race for three-year ...
. When MetLife ended their ‘’Peanuts’’ branding, they also brought the blimp program to a close.
On August 23, 2011, MetLife agreed to a 25-year sponsorship deal to rename New Meadowlands Stadium in East Rutherford, New Jersey
East Rutherford is a borough in Bergen County, New Jersey, United States. As of the 2020 U.S. census, the borough's population was 10,022, reflecting an increase of 1,109 (+12.4%) from the 8,913 counted in the 2010 census. , home of the NFL's New York Giants
The New York Giants are a professional American football team based in the New York metropolitan area. The Giants compete in the National Football League (NFL) as a member club of the league's National Football Conference (NFC) East division. ...
and New York Jets
The New York Jets are a professional American football team based in the New York metropolitan area. The Jets compete in the National Football League (NFL) as a member club of the league's American Football Conference (AFC) East division. The J ...
to MetLife Stadium
MetLife Stadium is a multi-purpose stadium at the Meadowlands Sports Complex in East Rutherford, New Jersey, 5 mi (8 km) west of New York City. Opened in 2010 to replace Giants Stadium, it serves as the home for the New York Giants an ...
. On January 16, 2017, MetLife agreed to a five-year sponsorship to rename Seibu Dome in Tokorozawa
is a city located in Saitama Prefecture, Japan. , the city had an estimated population of 344,194 in 163,675 households and a population density of 4800 persons per km². The total area of the city is .
Geography
Tokorozawa is located in the ce ...
, Saitama Prefecture
is a landlocked prefecture of Japan located in the Kantō region of Honshu. Saitama Prefecture has a population of 7,338,536 (1 January 2020) and has a geographic area of 3,797 km2 (1,466 sq mi). Saitama Prefecture borders Tochigi Prefecture ...
in Japan as the MetLife Dome
(official name: ) is a baseball stadium located in Tokorozawa, Saitama, Japan. It is home to the Saitama Seibu Lions, a professional baseball team.
The stadium has a roof over the field and the stands, like other indoor ballparks. However, it la ...
.
From 2014 to 2017, MetLife was the title sponsor of the BWF Super Series
The BWF Super Series was a series of Grade 2 badminton tournaments, sanctioned by Badminton World Federation (BWF). It was launched on December 14, 2006 and implemented in 2007.
Since 2011, the Super Series includes two levels of tournament, ...
badminton tournament.
Weight and longevity data
In 1959, The Metropolitan Life Insurance Company (as it was known at the time) released tables of the best weight for each height for longevity, based on their collected insurance data. These tables showed what were characterized as “desirable weights”. In 1983, the company released tables showing the “ideal” weights for greatest longevity; this information was based on data collected in the Build Study of 1979 collected by the Society of Actuaries. This data followed patients for 18 years (1954–1972) and was collected from 25 life insurance companies in Canada and the United States, representing 4.2 million people. These “ideal” weights were higher than the prior “desirable” weights, this was attributed to an increase in muscle mass due to improved fitness levels among the population.
This study is still the largest available pool of data for this purpose. It was noticed that the average weights in the population are higher than the ideal weights for survival. The ‘’’Metropolitan Tables’’’ included ‘’small’’, ‘’medium’’ and ‘’large’’ frames, based on elbow-girth measured using calipers, as the elbows do not develop adipose tissue. They presented weight ranges for height, sex and body frame (again associated with the lowest mortality) The midpoint of the ideal weight for the medium frames for each height was selected as the “ideal” weight used for calculations of “excess weight” (initial weight minus ideal weight). This led to a formula to calculate the ideal weight used by bariatric
Bariatrics is the branch of medicine that deals with the causes, prevention, and treatment of obesity.
Terminology
The term ''bariatrics'' was coined around 1965,Dictionary.com, based on Random House Unabridged Dictionary, Random House (2006)R ...
surgeons, but it had lost considerable accuracy by 2007, again due to improvements in medical care and in public health.
See also
* List of United States insurance companies
This is a list of insurance companies based in the United States. These are companies with a strong national or regional presence having insurance as their primary business.
In 1752, Benjamin Franklin founded the first American insurance company a ...
* Park La Brea, Los Angeles, California
Park La Brea (Spanish language, Spanish: ''La Brea''—"The tar", after the nearby La Brea Tar Pits) is a sprawling apartment community in the Miracle Mile, Los Angeles, California, Miracle Mile District of Los Angeles, California. With 4,255 un ...
* Park Merced, San Francisco, California
Parkmerced is a neighborhood in San Francisco, California, designed by architects Leonard Schultze and Thomas Dolliver Church in the early 1940s. Parkmerced is the second-largest single-owner neighborhood of apartment blocks west of the Mississi ...
* Parkchester, Bronx
Parkchester is a planned community and neighborhood originally developed by the Metropolitan Life Insurance Company and located in the central The Bronx, Bronx, New York City. The immediate surrounding area also takes its name from the complex. I ...
* Riverton Houses
The Riverton Houses is a large (originally 1,232 unit) residential development in Harlem, Manhattan, New York City.
Ownership
The project was proposed by the Metropolitan Life Insurance Company in 1944, and largely served an African American p ...
* Stuyvesant Town Stuyvesant may refer to:
People
* Peter Stuyvesant (1592–1672), the last governor of New Netherland
* Peter Gerard Stuyvesant (1778–1847), lawyer, landowner and philanthropist.
* Rutherfurd Stuyvesant (1843–1909), socialite and land developer ...
References
Archives and records
New England Mutual Life Insurance Company records
at Baker Library Special Collections, Harvard Business School.
{{DEFAULTSORT:Metlife
Life insurance companies of the United States
Financial services companies based in New York City
Insurance companies based in New York City
Multinational companies based in New York City
Former mutual insurance companies
American companies established in 1868
Financial services companies established in 1868
1868 establishments in New York (state)
2000 initial public offerings
Companies listed on the New York Stock Exchange