MetLife, Inc. (NYSE:MET) Chairman, President and Chief Executive Officer
Steven A. Kandarian issued the following statement today after the
Financial Stability Oversight Council (FSOC) notified the company that
it has been preliminarily designated a non-bank Systemically Important
Financial Institution (SIFI):
“MetLife strongly disagrees with the Financial Stability Oversight
Council’s preliminary designation of MetLife as a SIFI.
“MetLife is not systemically important under the Dodd-Frank Act
criteria. In fact, MetLife has served as a source of financial strength
and stability during times of economic distress, including the 2008
financial crisis.
“The current regulatory system oversees a stable industry that pays out
more than $500 billion every year. Imposing bank-centric capital rules
on life insurance companies will make it more difficult for Americans to
buy products that help protect their financial futures. At a time when
government social safety nets are under increasing pressure and
corporate pensions are disappearing, the goal of public policy should be
to preserve and encourage competitively priced financial protection for
consumers.
“MetLife is not ruling out any of the available remedies under
Dodd-Frank to contest a SIFI designation.”
About MetLife
MetLife, Inc. (NYSE:MET), through its subsidiaries and affiliates
(“MetLife”), is one of the largest life insurance companies in the
world. Founded in 1868, MetLife is a global provider of life insurance,
annuities, employee benefits and asset management. Serving approximately
100 million customers, MetLife has operations in nearly 50 countries and
holds leading market positions in the United States, Japan, Latin
America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
This news release may contain or incorporate by reference information
that includes or is based upon forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements give expectations or forecasts of future
events. These statements can be identified by the fact that they do not
relate strictly to historical or current facts. They use words such as
“anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,”
“believe” and other words and terms of similar meaning in connection
with a discussion of future operating or financial performance. In
particular, these include statements relating to future actions,
prospective services or products, future performance or results of
current and anticipated services or products, sales efforts, expenses,
the outcome of contingencies such as legal proceedings, trends in
operations and financial results. Any or all forward-looking statements
may turn out to be wrong. They can be affected by inaccurate assumptions
or by known or unknown risks and uncertainties. Many such factors will
be important in determining the actual future results of MetLife, Inc.,
its subsidiaries and affiliates. These statements are based on current
expectations and the current economic environment. They involve a number
of risks and uncertainties that are difficult to predict. These
statements are not guarantees of future performance. Actual results
could differ materially from those expressed or implied in the
forward-looking statements. Risks, uncertainties, and other factors that
might cause such differences include the risks, uncertainties and other
factors identified in MetLife, Inc.’s most recent Annual Report on Form
10-K (the “Annual Report”) filed with the U.S. Securities and Exchange
Commission (the “SEC”), Quarterly Reports on Form 10-Q filed by MetLife,
Inc. with the SEC after the date of the Annual Report under the captions
“Note Regarding Forward-Looking Statements” and “Risk Factors,” and
other filings MetLife, Inc. makes with the SEC. MetLife, Inc. does not
undertake any obligation to publicly correct or update any
forward-looking statement if MetLife, Inc. later becomes aware that such
statement is not likely to be achieved. Please consult any further
disclosures MetLife, Inc. makes on related subjects in reports to the
SEC.
Copyright Business Wire 2014