New York’s MetLife, Inc. subsidiary Metropolitan Tower Life Insurance Company has entered the world of longevity reinsurance in the UK through a Pension Insurance Corporation Plc (PIC) deal involving approximately £280 million of pension liabilities.
“This transaction marks an important milestone in MetLife’s strategy and gives us the opportunity to apply our experience managing risk to a new market,” said MetLife executive vice president and head of retirement & income solutions Graham Cox.
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