MetLife chief Kandarin says ‘everything on the table’ in scaleback following sales of operations in Costa Rica and Panama
Wednesday, December 7, 2011
MetLife chief executive Steven Kandarian said the insurer may scale back or exit businesses as it conducts a review of units to meet targets for shareholder returns amid near-record low interest rates.
“Everything is on the table,” Kandarian said today in a conference call with analysts to discuss 2012 earnings projections for the largest US life insurer. “There could be businesses that we dial down. There could be businesses that we don’t engage in any longer.”
Kandarian, 59, has made deals to sell units including assets in Panama, Costa Rica and Trinidad and Tobago since MetLife’s acquisition of American Life Insurance last year for about $16 billion.
Original source: Bloomberg