MetLife Fined $10M Over Annuity Accounting
The SEC says the insurer failed to maintain a sufficient system of internal controls, resulting in an improper release of annuity reserves.
MetLife Settles With Massachusetts Over Pension Claims
The company agreed to pay $1 million to resolve accusations related to its pension risk transfer business.
CFOs on the Move: Week Ending May 18
Securities and Exchange Commission, Metlife, Mosaic, Exelon, Dine Brands, Allison Transmission, Zillow, HighPoint Resources, West, Blue Apron
FedEx Makes Largest Pension Annuity Purchase in Years
The $6 billion deal could be a harbinger of more such asset de-risking moves by other defined-benefit plan sponsors.
CFOs on the Move: Week Ending May 4
MetLife, Honeywell, CVR Energy, Extended Stay America, Papa John's, Peloton, LGS Innovations, Enphase Energy, Conifer Health, Emergent BioSolution
MetLife Shares Plunge on Restatement News
The insurer says it underestimated its group annuity reserves because of "a material weakness in internal control over financial reporting.”
Accenture Offloads Pension Liability
The deal comes as insurers are buying pension plans at a record rate.
IMF Urges ‘Increased Vigilance’ Over Insurers
The sector's increased contribution to systemic risk necessitates a "more macroprudential approach" to regulating it, the IMF says.
Judge Strips MetLife of ‘Too Big to Fail’ Label
MetLife's victory in a legal battle with regulators could encourage other institutions to challenge the "systemically important" designation.
MetLife Plans Separation of U.S. Retail Business
MetLife's "bold move" could set a precedent for other "systemically important" insurers seeking to avoid higher capital requirements.
MetLife Stock Falls on News of Accounting Error
The insurer says an internal review determined it had incorrectly stated its combined risk-based capital ratio.