MetLife
Large American insurance company / From Wikipedia, the free encyclopedia
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MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company (MLIC),[3] better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with around 90 million customers in over 60 countries.[4][5] The firm was founded on March 24, 1868.[6] MetLife ranked No. 43 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.[7]
Company type | Public company |
---|---|
Industry | Financial services |
Founded | March 24, 1868; 156 years ago (1868-03-24) |
Headquarters | MetLife Building 200 Park Avenue New York City, New York, U.S. |
Key people |
|
Products | Insurance, Annuities, Employee Benefits |
Revenue | US$71.08 billion (2021)[1] |
US$8.13 billion (2021)[1] | |
US$6.55 billion (2021)[1] | |
AUM | US$590.9 billion (2022)[2] |
Total assets | US$759.71 billion (2021)[1] |
Total equity | US$67.75 billion (2021)[1] |
Number of employees | ~43,000 (2021)[1] |
Subsidiaries | PNB MetLife India Insurance Company |
Website | MetLife.com |
On January 6, 1915, MetLife completed the mutualization process, changing from a stock life insurance company owned by individuals to a mutual company operating without external shareholders and for the benefit of policyholders.[8] After 85 years as a mutual company, MetLife demutualized into a publicly traded company with an initial public offering in 2000.[9] 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.[10] MetLife serves 90 of the largest Fortune 500 companies.[11]
MetLife's head offices and boardroom are located at the MetLife Building at 200 Park Avenue in Midtown Manhattan 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.[12][13]
In January 2016, MetLife 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, which launched in March 2017.[14] The continuing MetLife company kept naming rights to MetLife Stadium in East Rutherford, New Jersey.[15]