Close Close

Life Health > Life Insurance

MetLife Removed From Citigroup's Top Picks as CEO Reshapes Firm (Bloomberg Businessweek)

Your article was successfully shared with the contacts you provided.

Steven Kandarian, named Chief Executive Officer of MetLife in May, is seeking to position the company as the preeminent global life insurer, which could amount to a larger reorganization within the company than experts had predicted. Already one executive is leaving the company and another will retire next year. In the meantime, Kandarian is looking to recoup losses from a rough market year in which the company dropped 37 percent. What else is on the horizon? Potential expansion outside the U.S. and “a material downsizing” of sales of variable annuities, said Colin Devine, an analyst with Citigroup, who lowered his price target on the stock 7.1 percent and maintained a “buy” rating.