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MetLife Halts Sale of New Long-Term Care Insurance

MetLife Inc., the largest U.S. life insurer, will halt the sale of new long-term care coverage after citing “financial challenges” in the business.

MetLife, led by Chief Executive Officer Robert Henrikson, is focusing on growth in Asia after buying a business from American International Group Inc. this month for $16.2 billion. Insurers including CNO Financial Group Inc. have been burned by policies sold in the past when they underestimated the number of claims, the cost of care and life expectancies of their clients.