18 November 2014Services

MetLife completes captive merger

MetLife has completed the mergers of its three life insurance subsidiaries and one former offshore reinsurance subsidiary.

MetLife Insurance Company of Connecticut, MetLife Investors USA Insurance Company, MetLife Investors Insurance Company and Exeter Reassurance Company have merged into MetLife Insurance Company USA and is domiciled in Delaware.

At its investor day meeting in May 2013, MetLife announced it would merge these subsidiaries to better position the company to comply with Dodd-Frank collateral requirements, proactively address regulatory issues surrounding the use of captive reinsurance companies, and improve the risk profile and transparency of MetLife’s US variable annuity business.