Seeking Alpha

MetLife's (MET) retreat from the variable annuity business (joining Hartford, Genworth, and Sun...

MetLife's (MET) retreat from the variable annuity business (joining Hartford, Genworth, and Sun Life) is leaving plenty of market share that Prudential (PRU) and AIG are happy to pick up. Overall industry sales of the products fell 4.9% Y/Y in Q2 as insurers - worried about the risk from these equity-linked products - cut benefits.
Comments (1)
  • terryc3344
    , contributor
    Comments (6) | Send Message
     
    Hartford, Genworth, Sun Life and ING retreated completely from this market with regards to new sales. Met Life has not done that. Met has simply repriced the benefits offered under their products based on the market conditions currently. Additionally, Met did close down many third party channels for sale of these products but still sell through the 3 largest as well as their own captive Met and New England Financial reps.
    These facts are quite different from the facts surrounding other insurers. Met will still compete favorably with Pru and AIG.
    20 Aug 2012, 06:30 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs