MetLife, originally Metropolitan Life Insurance Company, is a leading global insurance and financial services company founded in 1868. This timeline traces its evolution from a small mutual insurer to a publicly traded multinational, highlighting key leadership, product innovations, mergers, acquisitions, and strategic shifts.
Metropolitan Life Insurance Company is founded in New York City by a group of businessmen, focusing on life insurance for the working class. #insurance #history
MetLife begins offering industrial insurance, collecting small premiums weekly from policyholders. This model makes life insurance accessible to low-income families. #insurance #innovation
John R. Hegeman takes over as president, leading MetLife for decades and overseeing rapid growth. #leadership
MetLife issues its first group life insurance policy, covering employees of a large corporation. This marks the start of a major business line. #insurance #history
MetLife converts from a stock to a mutual company, making policyholders owners. #insurance #history
Frederick H. Ecker assumes presidency, guiding MetLife through the Great Depression and World War II. #leadership
MetLife becomes the largest life insurance company in the United States by assets. #insurance #history
MetLife's assets surpass $1 billion, reflecting strong growth in the post-war era. #finance
MetLife becomes the largest life insurance company in the world by total assets. #insurance #history
MetLife begins using Peanuts characters, including Snoopy, in its advertising, becoming one of the most recognizable insurance brands. #marketing #advertising
MetLife acquires New England Mutual Life Insurance Company, expanding its product line and distribution. #mergers
MetLife acquires the group life and health business of USF&G, strengthening its employee benefits portfolio. #mergers
MetLife acquires GenAmerica Financial Corporation (formerly General American Life Insurance), adding retirement and investment products. #mergers
MetLife announces plans to demutualize and become a publicly traded company, converting policyholder ownership to stock. #finance
MetLife completes its demutualization and begins trading on the New York Stock Exchange under the ticker MET. #finance
MetLife acquires Aetna's retirement and savings business for $1.2 billion, expanding its annuity and 401(k) offerings. #mergers
MetLife establishes MetLife Bank, a federal savings bank, to offer banking products. #banking
MetLife acquires Travelers Life & Annuity from Citigroup for $11.5 billion, significantly increasing its scale. #mergers
MetLife acquires the life insurance and annuity business of Merrill Lynch, strengthening its distribution through financial advisors. #mergers
MetLife suffers significant investment losses during the global financial crisis but avoids a government bailout. #finance #crisis
MetLife becomes a bank holding company under the Bank Holding Company Act, allowing access to TARP funds (though it did not take them). #banking #regulation
MetLife acquires American Life Insurance Company (ALICO) from AIG for $15.5 billion, expanding its international presence. #mergers #global
MetLife acquires a block of employee benefits business from Liberty Mutual, enhancing its group insurance portfolio. #mergers
MetLife sells MetLife Bank to GE Capital for $6.4 billion, exiting the banking business to focus on insurance. #banking #divestiture
MetLife announces a restructuring plan to streamline operations and focus on core insurance and retirement businesses. #corporate #strategy
MetLife sells its auto and home insurance operations to Farmers Insurance, exiting the P&C market. #divestiture
MetLife announces plans to spin off its retail life insurance and annuity business into a separate company, Brighthouse Financial. #corporate #spin-off
MetLife completes the spin-off of Brighthouse Financial, which begins trading on NASDAQ. #spin-off #finance
MetLife acquires Versant Health, a vision insurance provider, expanding its group benefits offerings. #mergers #health
MetLife sells its insurance operations in several Latin American countries as part of a portfolio optimization. #divestiture #global
MetLife faces increased claims and market volatility during the pandemic, while also offering premium relief to policyholders. #pandemic #crisis
Michel Khalaf succeeds Steven Kandarian as President and CEO of MetLife, continuing the company's strategic focus. #leadership
MetLife sells its life insurance business in South Korea to KB Financial Group, exiting the Korean market. #divestiture #global
MetLife acquires a block of group life and disability insurance business from a competitor, strengthening its employee benefits line. #mergers
MetLife sets new sustainability targets, including net-zero greenhouse gas emissions by 2050. #sustainability #ESG