MetLife, Inc., has completed the mergers of its subsidiaries MetLife Insurance Company of Connecticut, MetLife Investors USA Insurance Company, MetLife Investors Insurance Company, and Exeter Reassurance Company Limited. The merged company has been renamed MetLife Insurance Company USA and is domiciled in Delaware. All necessary regulatory approvals have been received for these mergers.
In May 2013, MetLife announced that it would merge these subsidiaries to better position the company to comply with Dodd-Frank collateral requirements, proactively address regulatory issues surrounding the use of captive reinsurance companies, and improve the risk profile and transparency of MetLife's U.S. variable annuity business. The company said that the decision was part of MetLife's larger effort to de-risk its variable annuity business.
MetLife said that all policy, contract, certificate, or retained asset account terms, conditions, or benefits remained unchanged as a result of the merger.
Learn more: www.metlife.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].