MetLife Makes Asset Management a Standalone Segment

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MetLife Makes Asset Management a Standalone Segment

MT Newswires Live01-09

MetLife (MET) said Friday it has reorganized its business to support growth in asset management, making its institutional asset management business, MetLife Investment Management, a standalone reportable segment.

The company said MetLife Holdings is no longer a reportable segment and is now included in corporate & other.

Some products from MetLife Holdings have been moved to Group Benefits and Retirement and Income Solutions, the company said, adding the company now reports six segments, consisting of Group Benefits, RIS, Asia, Latin America, Europe/Middle East/Africa, and MetLife Investment Management, along with Corporate & Other.

MetLife said the changes do not affect prior net income or adjusted earnings and updated its financial reporting to reflect the new structure.

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