METLIFE COMPLETES MERGER OF TWO SUBSIDIARIES
NEW YORK, April 30, 2018
MetLife, Inc. (NYSE: MET) today announced that it has completed the merger of its subsidiary, General American Life Insurance Company, with and into another subsidiary, Metropolitan Tower Life Insurance Company. The surviving entity, Metropolitan Tower Life Insurance Company, is domiciled in Nebraska. All necessary regulatory approvals have been received for the merger.
In January 2018, MetLife announced it would merge these subsidiaries to simplify and streamline its corporate and operational structure, promoting the company’s efforts to remain competitive, flexible and in the best position to meet customer needs. The decision resulted from a review of the entities out of which MetLife does business following the decision to separate a substantial portion of its U.S. Retail segment.
All existing policy, contract, certificate or retained asset account terms, conditions or benefits remain unchanged as a result of the merger.
