Deals
MetLife Seen Scaling Back Annuities as CEO Narrows Focus
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MetLife Inc. may target annuities and U.S. retail life insurance for cost cuts as Chief Executive Officer Steven Kandarian unveils his plan to improve returns.
“I think they’re going to announce some expense-reduction initiatives in those lines of business and maybe announce that they’re cutting back on sales,” Sean Dargan, an analyst at Macquarie Group Ltd., said in an interview. “The products there are commoditized, the environment there is very competitive and the company can probably achieve higher returns elsewhere.”