MetLife, Inc. (MET): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how MetLife, Inc. (MET) became a global insurance giant serving over 90 million customers in more than 60 countries? Delve into the rich history of this financial services provider, from its humble beginnings in 1868 to its current status as a leader in life insurance, annuities, and employee benefits programs.

What makes MetLife tick, and how does it generate revenue through premiums, investments, and fees, while maintaining a strong presence in the Fortune 500?

Continue reading to uncover the ownership structure, explore its mission, and understand the intricate workings that have solidified MetLife's position as a trusted partner for individuals and corporate clients alike, with a significant market share in the dental insurance industry at an estimated 5.0% of total industry revenue in the US.

MetLife, Inc. (MET) History

The Company's Founding Timeline

Year established

The company was officially established on March 24, 1868.

Original location

The company was founded in New York City, New York.

Founding team members

The company was founded by a group of New York City businessmen.

Initial capital/funding

Initially named the National Union Life and Limb Insurance Company, it focused on insuring Civil War soldiers and sailors against disabilities. It was later renamed to the company in 1869. The initial capital was $100,000.

The Company's Evolution Milestones

The Company's Transformative Moments

• 1869: The renaming marked a significant shift in the company's strategy, turning its focus towards life insurance, which would become its core business.
• 1893: The introduction of industrial life insurance was a transformative decision that democratized access to life insurance, making it affordable and accessible to working-class families. This move significantly expanded the company's customer base and solidified its position in the market.
• 1915: The conversion to a mutual life insurance company was a pivotal moment, aligning the company's interests more closely with those of its policyholders. As a mutual company, policyholders had ownership rights and shared in the company's profits, fostering a sense of trust and loyalty.
• 2000: The demutualization and transition to a publicly-traded company in 2000 was a monumental shift that opened up new avenues for growth and expansion. This move provided access to capital markets, enabling the company to pursue strategic acquisitions and investments.
• 2010: The acquisition of ALICO from AIG in 2010 significantly expanded the company's international footprint, particularly in Japan, making it a global leader in the insurance industry.
• 2016-2017: The decision to spin off its U.S. retail business as Brighthouse Financial in 2016-2017 was a strategic move to streamline operations and focus on its core strengths in group benefits and international markets. This allowed the company to allocate resources more efficiently and enhance its competitiveness in key business segments.

To gain more insights into the company's guiding principles, explore: Mission Statement, Vision, & Core Values of MetLife, Inc. (MET).

MetLife, Inc. (MET) Ownership Structure

MetLife, Inc. operates with a mixed ownership structure, featuring a blend of institutional, retail, and insider stakeholders. This composition reflects the diverse investor base typical of a publicly traded company.

MetLife, Inc.'s Current Status

MetLife, Inc. is a publicly traded company, meaning its shares are available for purchase on stock exchanges by the general public. It is listed on the New York Stock Exchange (NYSE) under the ticker symbol MET.

MetLife, Inc.'s Ownership Breakdown

As of the fiscal year 2024, the ownership of MetLife, Inc. is distributed among various shareholders. Here's a breakdown:

MetLife, Inc.'s Leadership

The leadership team at MetLife, Inc. is responsible for setting the strategic direction and overseeing the company's operations. Key figures include:

• Michel Khalaf: President and Chief Executive Officer
• John McCallion: Executive Vice President and Chief Financial Officer

These individuals, along with other executive leaders and the board of directors, guide MetLife's strategies and ensure its financial health. More insights about the company's performance can be found here: Breaking Down MetLife, Inc. (MET) Financial Health: Key Insights for Investors

MetLife, Inc. (MET) Mission and Values

MetLife aims to help individuals and families navigate life's challenges with confidence, focusing on building a more secure future. The company is committed to integrity, customer focus, and innovation.

MetLife's Core Purpose

Official mission statement

MetLife's mission statement is: 'To help our customers navigate life’s twists and turns with confidence.'

• Providing financial security: MetLife aims to offer products and services that provide a safety net for individuals and families, helping them protect their assets and plan for the future.
• Navigating life's challenges: Recognizing that life is unpredictable, MetLife seeks to be a reliable partner for its customers, offering guidance and support during difficult times.
• Building confidence: By delivering on its promises and providing valuable solutions, MetLife strives to instill confidence in its customers, empowering them to pursue their goals and dreams.

Vision statement

MetLife's vision is to be a leader in the financial services industry, helping individuals and families achieve financial freedom.

• Customer-centric approach: MetLife aims to deeply understand its customers' needs and preferences, tailoring its products and services to meet their unique requirements.
• Innovation and adaptability: MetLife seeks to stay ahead of the curve by continuously innovating and adapting to changing market conditions and customer expectations.
• Trusted relationships: MetLife strives to build long-lasting, trusted relationships with its customers, based on transparency, integrity, and mutual respect.

Company slogan/tagline

MetLife's tagline is 'Navigating life together.'

• Emphasis on partnership: The tagline highlights MetLife's commitment to working alongside its customers, providing guidance and support every step of the way.
• Focus on shared journey: 'Navigating life together' suggests that MetLife understands the challenges and opportunities that life presents, and is dedicated to helping its customers navigate them successfully.
• Building a secure future: By emphasizing the importance of partnership and shared goals, MetLife's tagline reinforces its commitment to helping customers build a more secure and fulfilling future.

More information can be found here: Mission Statement, Vision, & Core Values of MetLife, Inc. (MET).

MetLife, Inc. (MET) How It Works

MetLife operates as a global insurance company, providing a range of insurance, annuity, and employee benefit programs. It generates revenue primarily through premiums, fees, and investment income, managing risk and capital to ensure long-term financial security for its policyholders and shareholders.

MetLife's Product/Service Portfolio

MetLife's Operational Framework

MetLife's operational framework is built around:

• Risk Management: Utilizing sophisticated actuarial models and risk management techniques to assess and manage insurance risks.
• Investment Management: Investing premiums and capital to generate returns, balancing risk and return to meet policyholder obligations and shareholder expectations. As of the fiscal year 2024, MetLife's total assets under management were approximately $668.1 billion.
• Distribution Channels: Employing a multi-channel distribution strategy, including direct sales, agents, brokers, and partnerships, to reach diverse customer segments.
• Customer Service: Providing customer service and claims processing to ensure customer satisfaction and policyholder retention.
• Technology and Innovation: Investing in technology and innovation to improve operational efficiency, enhance customer experience, and develop new products and services.

MetLife's Strategic Advantages

MetLife's strategic advantages include:

• Global Brand Recognition: A well-established and recognized brand, providing a competitive edge in attracting and retaining customers.
• Scale and Diversification: Operating at a large scale with a diversified product portfolio and geographic presence, reducing risk and increasing stability.
• Strong Capital Position: Maintaining a strong capital position, enabling it to withstand market volatility and meet its obligations to policyholders. In 2024, MetLife reported a statutory capital of approximately $16.9 billion.
• Effective Risk Management: Expertise in risk management, allowing it to accurately assess and price insurance risks.
• Technological Innovation: Continuous investment in technology to enhance customer experience and operational efficiency.

To gain more insights into MetLife's investor profile, you might find this resource helpful: Exploring MetLife, Inc. (MET) Investor Profile: Who’s Buying and Why?

MetLife, Inc. (MET) How It Makes Money

MetLife, Inc. primarily makes money by providing insurance, annuities, and employee benefit programs. These services help individuals and companies manage risks and secure their financial futures.

MetLife's Revenue Breakdown

MetLife generates revenue from various streams, with premiums and fees from insurance products forming a significant portion.

MetLife's Business Economics

MetLife's business economics are driven by key factors that influence its profitability and sustainability:

• Pricing Strategies: MetLife uses actuarial science to assess risk and set premium prices. These prices are designed to cover potential claims, operating expenses, and provide a profit margin.
• Investment Income: A significant portion of MetLife's earnings comes from investing premiums collected. Investment strategies focus on balancing risk and return to maximize profitability.
• Economic Factors: Interest rates, inflation, and economic growth influence MetLife's profitability. Higher interest rates can boost investment income, while economic downturns may increase claims and reduce sales.

MetLife's Financial Performance

MetLife's financial performance can be gauged through several key metrics that reflect the company's stability and growth:

• Revenue Growth: MetLife's revenue has shown steady growth, driven by increased sales of insurance and annuity products. In the fiscal year 2024, MetLife reported revenues of $69.9 billion, a 7.45% increase year-over-year.
• Net Income: Net income reflects the company's profitability after all expenses. MetLife's net income for 2024 was $3.4 billion.
• Earnings Per Share (EPS): EPS is a key indicator of profitability on a per-share basis. MetLife's EPS in 2024 was $4.38.
• Return on Equity (ROE): ROE measures how effectively MetLife uses shareholders' equity to generate profit. MetLife's ROE for 2024 was 9.8%.
• Assets Under Management (AUM): AUM reflects the total value of assets managed by MetLife, including investments and other assets. As of 2024, MetLife had approximately $660 billion in AUM.

To gain further insights into MetLife's core values and strategic objectives, explore: Mission Statement, Vision, & Core Values of MetLife, Inc. (MET).

MetLife, Inc. (MET) Market Position & Future Outlook

As of April 2025, MetLife, Inc. maintains a strong market presence in the insurance sector, leveraging its global reach and diverse product offerings. The company's future outlook appears stable, driven by strategic initiatives focused on digital transformation and expanding its presence in emerging markets.

Competitive Landscape

Opportunities & Challenges

Industry Position

MetLife holds a significant position in the insurance industry, characterized by:

• A diversified business model encompassing life insurance, annuities, employee benefits, and asset management.
• A strong focus on innovation, with investments in digital platforms and data analytics to improve customer engagement and operational efficiency.
• A commitment to sustainability, integrating environmental, social, and governance (ESG) factors into its business practices.

For more insights into MetLife's investor profile, check out: Exploring MetLife, Inc. (MET) Investor Profile: Who’s Buying and Why?