The Swiss insurance company said the deal would increase its presence across the United States.
The Financial Stability Oversight Council's decision means there are no longer any nonbanks subject to stricter, post-crisis oversight.
In a $6 billion deal, the private-equity firm will replace KKR as the majority owner of Sedgwick, the largest U.S. insurance claims service provider.
The sweeping measure would impose a 15-year cap on benefits for workers with certain injuries, eliminating the current lifetime payout.
The main drivers were drops of 12% in the cost of covering property risks; 6% for workers’ compensation; and 5% for liability.
Why corporations sometimes can’t get the coverage they really need.
Employers may not be receiving the best deals for employees because conflicts of interest that benefit other parties maybe working against them.
Companies are clamoring for the data and information they need to manage their exposures.
MetLife's "bold move" could set a precedent for other "systemically important" insurers seeking to avoid higher capital requirements.
The software provider is sold to Vista Equity Partners after announcing last month it was exploring strategic alternatives.
The company says federal regulators erred in giving it the "systemically important" designation, which would subject it to stricter oversight.
The largest-ever insurance industry merger combines two companies well-known for insuring businesses and wealthy individuals.
