Exhibit 99.2
Public Relations
MetLife, Inc.
News One MetLife Plaza
For Immediate Release 27-01 Queens Plaza North
Long Island City, NY 11101
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MetLife(R) [Snoopy GRAPHIC]
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Contacts: For Media: John Calagna
(212) 578-6252
For Investors: Tracey Dedrick
(212) 578-5140
METLIFE RESOLVES INVESTIGATION BY NEW YORK ATTORNEY GENERAL
NEW YORK, December 29, 2006 - MetLife, Inc. (NYSE: MET) announced today
that its wholly-owned subsidiary, Metropolitan Life Insurance Company
(MetLife), resolved a previously disclosed investigation by the New York
Attorney General's Office (NYAG). The NYAG's investigation related to
payments to intermediaries in the marketing and sale of group life and
disability, group long-term care and group accidental death and
dismemberment insurance and related matters.
In the settlement, MetLife does not admit liability as to any issue of fact
or law. Among other things, MetLife has agreed to certain business reforms
relating to compensation of producers of group insurance, compensation
disclosures to group insurance clients and the adoption of related
standards of conduct, some of which it had implemented following the
commencement of the NYAG's investigation. MetLife will also pay a fine and
make a payment to a restitution fund.
MetLife cooperated fully with the NYAG's office throughout the pendency of
the matter. MetLife believes that resolving this matter is in the best
interests of its shareholders, customers and policyholders. MetLife does
not expect that the settlement will adversely affect its business.
MetLife, Inc. is a leading provider of insurance and financial services
with operations throughout the United States and the Latin America, Europe
and Asia Pacific regions. Through its domestic and international
subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million
customers around the world and MetLife is the largest life insurer in the
United States (based on life insurance in-force). The MetLife companies
offer life insurance, annuities, auto and home insurance, retail banking
and other financial services to individuals, as well as group insurance,
reinsurance and retirement & savings products and services to corporations
and other institutions. For more information, please visit www.metlife.com.
This release contains statements which constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995, including statements relating to trends in
the operations and financial results and the business and the products of
the company and its subsidiaries, as well as other statements including
words such as "anticipate," "believe," "plan," "estimate," "expect,"
"intend" and other similar expressions. Forward-looking statements are made
based upon management's current expectations and beliefs concerning future
developments and their potential effects on the company. Such
forward-looking statements are not guarantees of future performance.
Actual results may differ materially from those included in the
forward-looking statements as a result of risks and uncertainties
including, but not limited to, the following: (i) changes in general
economic conditions, including the performance of financial markets and
interest rates; (ii) heightened competition, including with respect to
pricing, entry of new competitors and the development of new products by
new and existing competitors; (iii) unanticipated changes in industry
trends; (iv) the company's primary reliance, as a holding company, on
dividends from its subsidiaries to meet debt payment obligations and the
applicable regulatory restrictions on the ability of the subsidiaries to
pay such dividends; (v) deterioration in the experience of the "closed
block" established in connection with the reorganization of Metropolitan
Life Insurance Company; (vi) catastrophe losses; (vii) adverse results or
other consequences from litigation, arbitration or regulatory
investigations; (viii) regulatory, accounting or tax changes that may
affect the cost of, or demand for, the company's products or services;
(ix) downgrades in the company's and its affiliates' claims paying ability,
financial strength or credit ratings; (x) changes in rating agency policies
or practices; (xi) discrepancies between actual claims experience and
assumptions used in setting prices for the company's products and
establishing the liabilities for the company's obligations for future
policy benefits and claims; (xii) discrepancies between actual experience
and assumptions used in establishing liabilities related to other
contingencies or obligations; (xiii) the effects of business disruption or
economic contraction due to terrorism or other hostilities; (xiv) the
company's ability to identify and consummate on successful terms any future
acquisitions, and to successfully integrate acquired businesses with
minimal disruption; and (xv) other risks and uncertainties described from
time to time in the company's filings with the Securities and Exchange
Commission, including its S-1 and S-3 registration statements. The company
specifically disclaims any obligation to update or revise any
forward-looking statement, whether as a result of new information, future
developments or otherwise.
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