A.M. Best has affirmed the financial strength rating of “A+” (Superior) and the issuer credit ratings of "aa-" of the primary life/health insurance subsidiaries of MetLife.
Additionally, A.M. Best has affirmed the financial strength rating of “A” (Excellent) and issuer credit ratings of "a+" of MetLife's property/casualty companies, consisting of Metropolitan Property and Casualty Insurance Company, seven fully reinsured subsidiaries and a separately rated subsidiary, Metropolitan Group Property and Casualty Insurance Company (together referred to as MetLife Auto & Home).
The rating affirmations reflect what A.M. Best termed as MetLife's “diverse business mix, favourable operating results, strong franchise, considerable scale and prominent market positions across several product lines”.
MetLife continues to generate consistent revenue and cash flows, reporting growth in operating earnings across all segments.
A.M. Best notes the organisation's strong, global risk management capabilities, which incorporate extensive use of sensitivity analysis and hedging activities to reduce economic risk related to volatility in equity markets, foreign currencies and interest rates.
A.M. Best believes that a positive rating action for MetLife and its core life/health subsidiaries is unlikely in the near to medium term.
Factors that may lead to a negative rating action include a significant deterioration in operating performance, material investment impairments, increased exposure to high-risk assets or diminished key capital, leverage, coverage and liquidity ratios.
