News & Analysis as of

MetLife Insurance Industry

Faegre Drinker Biddle & Reath LLP

Court Reinforces the Filed-rate Doctrine in Collins et al v. Metropolitan Life Ins. Co.

On February 3, 2023, the United States District Court for the Eastern District of Missouri granted MetLife’s motion to dismiss for failure to state a claim in Collins et al v. Metropolitan Life Ins. Co. In granting MetLife’s...more

ArentFox Schiff

Joe Biden: Not Just President but Super-Superintendent of Insurance?

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In addition to dramatically changing the policies of former President Trump on the pandemic, the economy, immigration, and other key issues, the Biden Administration is likely to substantially increase the federal...more

Carlton Fields

Reinsurer’s Summary Judgment Upheld On Motion For Rehearing

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Capitol Life Insurance Co. moved the Court of Appeals for the Fifth District of Texas for rehearing of the court’s prior affirmance of summary judgment against Capitol in favor of MetLife Insurance Company USA, MetLife...more

Robinson+Cole Property Insurance Coverage...

Freezing Exclusion: Third Circuit Affirms District Court’s Grant Of Summary Judgment To Insurer

Many typical homeowner’s insurance policies contain an exclusion for damages as a result of freezing unless the homeowner uses “reasonable care” to maintain heat in the home....more

Saul Ewing LLP

In Alabama, An Insurer’s Refusal To Honor $220,000 Scriveners Error Does Not Amount To Bad Faith

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In anticipation of his mother’s death, a son called Metropolitan Life Insurance Company (MetLife) to request a copy of his mother’s life insurance policy, which he knew existed, but had never seen. A MetLife representative...more

Carlton Fields

Third Time Is the Charm: Class Certified in DMF-Related Shareholder Suit

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In City of Westland Police & Fire Retirement System v. MetLife, the plaintiffs allege that the insurer overstated its earnings because it did not hold sufficient reserves for death benefit claims on group life insurance...more

Carlton Fields

Summary Judgment Win for Insurer in “Stable Value” Interest Rate Setting Case

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In July, MetLife obtained a win in the Northern District of Illinois when the court granted summary judgment in its favor on a claim that it had breached the duty of good faith and fair dealing in setting interest rates for a...more

Carlton Fields

Court Finds That Reinsurance Transaction Did Not Breach Investment Contract Underlying An ERISA Plan

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MetLife acquired the rights to a fixed investment option contract with Midco, a trust established to administer a retirement plan for the employees of Midco International, Inc. Midco plan participants received interest each...more

Carlton Fields

Federal Court Has Subject-Matter Jurisdiction To Decide Petition To Compel; Determines Party Did Not Waive Arbitration By Agreeing...

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Despite a pending motion to compel arbitration in state court, a party (MetLife) petitioned a Tennessee district court under the Federal Arbitration Act for the same relief. As that Act itself does not create federal-question...more

Robins Kaplan LLP

Your daily dose of financial news The Brief – 5.31.16

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A lawsuit over an alleged Ponzi scheme involving a fund pushed by MetLife agents is raising hard questions for the insurance giant over the reaches of corporate liability...more

Robins Kaplan LLP

Your daily dose of financial news The Brief – 5.4.16

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MetLife, accused by regulators of misleading tens of thousands of customers about variable annuities—“a product that retirees seek out for safety,” will pay a $25 million dollar fine for its actions. It’s the second-largest...more

Carlton Fields

The Judicial Rescission of MetLife’s SIFI Designation and the Possible Implications of the SIFI Process for Reinsurers

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The designation of MetLife as a systemically significant nonbank financial institution (SIFI) by the Financial Stability Oversight Council (FSOC) was recently rescinded by the United States District Court for the District of...more

Robins Kaplan LLP

Your daily dose of financial news The Brief – 4.8.16

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The Deal Professor looks back on a wild week of “deal busting” that saw the government [often in the form of Treasury Secretary Jack Lew] put the hurt on Pfizer/Allergan and Halliburton/Baker Hughes alike – NYTimes... ...more

Robins Kaplan LLP

Your daily dose of financial news The Brief – 3.31.16

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MetLife went to the mats over its SIFI label . . . and it won big. A federal judge in D.C. yesterday rescinded the “too big to fail” designation for the insurer, though the government can appeal the decision. The decision...more

WilmerHale

Life and Annuity Series: Captive Reinsurance Class Actions

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There have been several new class actions filed recently challenging “shadow insurance” transactions between life insurance companies and their “captive reinsurers.” Three of those class actions are in federal court in New...more

Carlton Fields

New York Fines Two Major Insurers

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Two recent Consent Orders issued by the New York State Department of Financial Services against major insurers appear to signal the Department’s enhanced focus on insurers’ detailed compliance with regulatory requirements....more

Carlton Fields

Considerations For Insurers In The Aftermath Of The MetLife Consent Decree

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MetLife Consent Decree - On March 26, 2014, the New York Department of Financial Services (the "DFS") entered into a consent decree ("Consent Decree") with MetLife, Inc. and its subsidiaries, American Life Insurance...more

Eversheds Sutherland (US) LLP

Legal Alert: Retained Asset Account Litigation—Summary Judgment Entered for MetLife

On March 8, 2013, the U.S. District Court for the District of Nevada, Judge Larry R. Hicks presiding, granted the defendant - insurer’s motions for summary judgment in the consolidated, putative class actions, Keife v....more

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