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'MetLife, Inc.' is the holding corporation for the 'Metropolitan Life Insurance Company' or 'MetLife' for short. The firm was founded on March 24, 1868. For most of its life the company was a mutual organization, but it went public in 2000.

Contents

Company description

History

Services

Products

External links

See also

Company description

MetLife is the largest life insurer in the United States with more than $2 trillion of life insurance in force. A leader in savings and retirement products and services for individuals, small business, and large institutions. MetLife serves 88 of the Fortune 100 largest companies. It has a large global market in more than 12 countries.

History

The origins of Metropolitan Life Insurance Company (MetLife) go back to 1863, when a group of New York City businessmen raised $100,000 to found the National Union Life and Limb Insurance Company. The new company insured Civil War sailors and soldiers against disabilities due to wartime wounds, accidents, and sickness. In 1868, after several reorganizations and five difficult years, the company decided to focus on the life insurance business. A new company was chartered to sell "ordinary" insurance to the middle class.
In 1879, MetLife President Joseph F. Knapp turned his attention to England, where "industrial" or "workingmen's" insurance programs were widely successful. By importing English agents to train an American agency force, MetLife quickly transferred successful British methods for use in the United States. By 1880, the company was signing up 700 new industrial policies a day. Rapidly increasing volume quickly drove down distribution costs, and the new program proved immediately successful.
Beginning in the 1930s, the company broadened its tradition of public service from promoting individual health to fostering national social and economic goals. In 1930, MetLife was the undisputed leader of the insurance industry, insuring every fifth man, woman, and child in the United States and Canada. On the way it supported the country and the community in many ways. For example,

★ In 1931 MetLife provided the outside capital to build Rockefeller Center.

★ lent money to construct the Empire State Building in 1929, and virtually saved this project from bankruptcy.

★ During World War II, the company placed more than 51 percent of its total assets in war bonds, and was the largest single private contributor to the Allied cause.

★ The company served its customers, communities and employees during the difficult time after the 9/11 attacks.
In 1980, The company completes the largest single building purchase (Pan Am Building) in history.
Since the 1980s Snoopy has been the mascot taken from the Peanuts cartoons.
In 1998, The board of directors authorizes demutualization.
In 2000, Metropolitan Life Insurance Company (MetLife) launches the seventh largest IPO ever held in the United States
In 2001, MetLife was the first insurance company to establish a financial holding company with a nationally chartered bank. Leveraging its unparalleled distribution channels, MetLife entered the retail-banking arena with the launch of MetLife Bank.
The MetLife Headquarters building was featured in (game), released in 2002.
In 2005, Working Mother magazine honored MetLife by naming the company one of the "100 Best Companies for Working Mothers," for the seventh consecutive year.
In early 2006, MetLife was also named to the National Association for Female Executives’ annual list of Top 30 Companies for Executive Women.
In 2006, MetLife appointed ""C. Robert (Rob) Henrikson"" chairman of the board of directors, 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.

Services

MetLife serves group benefit products and Individual benefit products. International segment serves these products to groups and individual in the Asia/Pacific region, Europe, and Latin America. The company's reinsurance business operates as Reinsurance Group of America, but serves customers around the world.

Products

★ life insurance

★ long-term care insurance

★ retirement planning

★ dental insurance

★ auto and boat insurance

★ disability income insurance

★ home insurance

★ banking and financial services

External links

★ MetLife.com MetLife official website

See also

★ Met English

★ Stuyvesant Town

★ Park La Brea, Los Angeles, California

★ Park Merced, San Francisco, California