MetLife declines after accounting blunder tied to annuity claims
October 14, 2015 by KATHERINE CHIGLINSKY
(Bloomberg) — MetLife Inc., the largest U.S. life insurer, declined in New York trading after saying that a measure of financial strength monitored by regulators was lower than previously reported.
MetLife dropped 1.6 percent to $47.12 at 10:39 a.m., the biggest fall in the 21-company Standard and Poor’s 500 Insurance Index. The combined risk-based capital ratio as of Dec. 31 was 398 percent, the New York-based company said in a regulatory filing Tuesday after markets closed. The insurer had previously said in its annual report that the figure was “in excess of 400 percent” at the end of 2014, and put the figure at 410 percent in a May conference call. Click HERE to read article