COMPANY PROFILE -MetLife Inc.
Business Sector :Insurance
Operating Geography :United States, Global
About MetLife Inc. :
MetLife, Inc. was founded in 1863 and is based in New York. It is the global provider of life insurance, annuities, employee benefits and asset management. Through its affiliates and subsidiaries, MetLife holds a market leader position in various parts of the world like US, Latin America, Japan, Asia, Europe and Middle East. It is also the largest institutional investor in the US. MetLife has a mix of insurance products divided into six segments: Life Insurance, Retirement, Corporate Benefits, Auto & Homeowners, International and Corporate & Other and these products are distributed through brokers, consultants and intermediaries. In the U.S the company offers a wide range of insurance and financial services products such as life, dental, disability, vision, accident & health, capital market investment, property and casualty, guaranteed interest, stable value and annuities, whereas in regions outside of U.S the company provides life, medical, dental, credit, accident & health insurance, annuities, endowment and retirement & savings products. As of early 2021, MetLife had approximately 46,500 employees across all its offices. In 2021, the company ranked 46 on the Fortune 500 list. As of March 2022, the market cap of MetLife is $58.82 billion.
MetLife’s unique selling proposition or USP lies in being one of the leading financial services companies in the world. MetLife’s mission statement states: ‘Our mission of financial inclusion offers more people across the globe access to the financial services they need to build better lives.’
MetLife Inc. Revenue :
US $71.080 billion - For the FY ended 31st December 2021(y-o-y growth of 4.77%)
US $67.842 billion - For the FY ended 31st December 2020
US$ 69.620 billion - For the FY ended 31st December 2019
Competitive Analysis of MetLife Inc.
The SWOT analysis for MetLife is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. It is a Fortune 500 company due to its strong financial performance.
2. Flagship player to provide Structured Installment Sales
3. Exemplary customer service
4. Strong brand name and huge presence across the globe
5. Launch of conVRse- the first of its kind VR platform
| 1. Metlife failed to pay benefits to some retirees
2. High cost of operations as compared to industry
3. Over dependence on the US market
4. Actual claims may differ from estimations, assumptions or models
|
| Opportunities | Threats |
1. Aging population of Japan and US
2. Indian government increased the FDI limit in insurance.
3. Expansion of pet insurance offerings
| 1. Little differentiation in insurance product offerings leading to competition over pricing
2. Catastrophes can significantly increase the claim liability of the company.
|
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Detailed SWOT Analysis of MetLife Inc.
Strength
1. It is a Fortune 500 company due to its strong financial performance: In 2021, MetLife ranked 46 on the Fortune 500 company list, in spite of the fall in the revenue by 2.6% from the previous fiscal, 2020. MetLife’s revenue for the twelve months ending on 31th December 2021 was $71.08 billion which is a 2% increase on a year-over-year basis. For the past 10 years MetLife’s revenue has been consistently over 60 billion. It has also been earning a positive operating income for over 15 years. MetLife’s net income for the FY ending 31th December 2021 was $6.4 billion, buoyed by rising spiraling demand for life insurance due to the striking of a global pandemic.
2. Flagship player to provide Structured Installment Sales: MetLife is the first insurance company to provide Structured Installment Sales solution through its subsidiary, Metropolitan Tower Life Insurance Company. This solution is available in 49 states including Puerto Rico, and Washington, D.C. Structured Installment helps individuals to defer their tax liability for eligible property sales such as small businesses, and agricultural, residential and commercial properties. With this solution the earnings from the sales are paid out through installment method over a pre-determined number of years. Therefore, the taxes are also paid in installments rather than being paid at once.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for MetLife is presented below in a matrix followed by the detailed analysis report:
| Political | Economical |
1. Biden administration is likely to substantially increase federal government’s oversight of the insurance industry.
2. The Indian Government increased the FDI limit in insurance segment.
3. Russia’s invasion in Ukraine could result in the decline of issuer’s credit rating
| 1. Fluctuations in exchange rate significantly impact the financial results of the company. |
| Social | Technological |
1. Retirement of Baby Boomers
2. Growing customer need for pet insurance.
3. Incorporating diversity, equality, and inclusion (DE&I) in business model
| 1. Undergoing company wise digital transformation |
| Legal | Environmental |
1. Highly regulated insurance and brokerage industry
2. Involved in various lawsuits.
| 1. Managing environmental footprint through carbon neutrality
2. Heavy investments in green building and renewable energy
|
On purchase the MetLife SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
Detailed Pestle Analysis of MetLife Inc.
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Managing environmental footprint through carbon neutrality: MetLife is the first carbon neutral U.S. based insurer and achieved carbon neutrality in 2016. It has now gone a step further and now supports 6 third party- certified carbon reduction projects that align with SDG of the United Nations including Reforestation of Mississippi Valley and capturing harmful landfill gases in US, use of renewable biomass in Brazil, replacing coal-fired stoves with solar cookers in China, conserving rainforest in Colombia and replacing traditional hot water heaters with solar powered heaters in India.
2. Heavy investments in green building and renewable energy: MetLife is committed to sound environmental stewardship and this fact is demonstrated by its consistent investment in green building and renewable energy. In 2020 alone the company reduced its energy consumption by 18%. In the year 2020, the company saved 48854 MWh in energy compared to the year 2019. The company is also managing more than $28.7 billion in green investments including energy efficient real estate and renewable energy projects.
The remaining section under 'Environmental' is available only in the 'Complete Report' on purchase.
Major Competitors :
- Genworth Financial
- USAA
- Assurant
- Auto Owners Insurance
- Erie Insurance
- Aegon
Major Brands :
- MetLife Investors
- MetLife Bank
- MetLife Securities
- Metropolitan Property
- Casualty Insurance Company
On purchase the MetLife SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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| MetLife Inc. Covid-19 Impact Analysis |
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| MetLife Inc. BCG Analysis |
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| MetLife Inc. Segmentation, Targeting and Positioning (STP) Analysis |
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| MetLife Inc. Ansoff Matrix Analysis |
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References used in MetLife Inc. SWOT & PESTLE Analysis Report
1. MetLife 2020 Annual Report - https://s23.q4cdn.com/579645270/files/doc_financials/2020/ar/Metlife-AR-web-ready-v1.pdf
2. conVRse - A Virtual Reality enabled customer service platform by PNB Metlife - The Digital Insurer - https://www.the-digital-insurer.com/dia/convrse-a-virtual-reality-enabled-customer-service-platform-by-pnb-metlife/
3. MetLife | 2021 Fortune 500 | Fortune - https://fortune.com/company/metlife/fortune500/
4. How Does Japan’s Aging Society Affect Its Economy? - The Diplomat - https://thediplomat.com/2019/11/how-does-japans-aging-society-affect-its-economy/
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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In-text: (SWOT & PESTLE.com, 2023)
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MetLife Inc. SWOT and PESTLE analysis has been conducted by Farheen Rahman and reviewed by senior analysts from Barakaat Consulting.
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