Deals
MetLife's CEO Told Regulators in 2014 of Possible Breakup
- Insurer is suing U.S. government to reverse systemic risk tag
- Kandarian announced plans for U.S. retail unit this month
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MetLife Inc., looking to avoid tougher oversight, was examining options for a breakup or restructuring of the firm 14 months before announcing this year that it’s considering a sale, spinoff or public offering for part of the domestic retail business.
Chief Executive Officer Steven Kandarian told regulators including Federal Reserve Chair Janet Yellen and Treasury Secretary Jacob J. Lew in November 2014 that MetLife might break up if it were subjected to stricter capital requirements. The insurer had hired an investment bank to determine “how bad does it get” if MetLife were designated as systemically important, he said.