MetLife Inc. has entered into an agreement with Global Atlantic Financial Group to reinsure approximately $19.2 billion of U.S. retail universal life,...
MetLife Inc. MET has entered into an agreement with Global Atlantic Financial Group to reinsure approximately $19.2 billion of U.S. retail universal life, variable universal life, universal life with secondary guarantees, and fixed annuity statutory reserves. The combined value of the transaction is expected to be approximately $3.25 billion with a ceding commission of $2.25 billion and $1 billion of capital that will be released, according to a statement released by MetLife early Thursday.
25 billion and $1 billion of capital that will be released, according to a statement released by MetLife early Thursday. “This transaction is another critical step in creating long-term value for our shareholders and for all our stakeholders,” said MetLife CEO Michel Khalaf, in the statement.
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