MetLife Reports $19.2B Risk Transfer Transaction; Further Increases Share Repurchase Authorization To $4B
Portfolio Pulse from Benzinga Newsdesk
MetLife has entered into a $19.2 billion risk transfer transaction with Global Atlantic Financial Group, reinsuring various life insurance and annuity products. Additionally, MetLife's Board has approved a $1 billion increase in share repurchase authorization, totaling $4 billion.
May 25, 2023 | 10:52 am
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MetLife's risk transfer transaction with Global Atlantic and increased share repurchase authorization may positively impact its stock price.
The risk transfer transaction with Global Atlantic allows MetLife to reduce its exposure to certain insurance products, potentially improving its risk profile. The increased share repurchase authorization signals confidence in the company's financial position and may lead to a higher stock price as it reduces the number of outstanding shares.
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