MetLife is one of the most recognized insurance brands in the United States, with over 155 years of history and an A+ (Superior) rating from AM Best. However, for individual retail annuity buyers, an important distinction applies: MetLife spun off the majority of its individual annuity operations in 2017 into a separate company called Brighthouse Financial. Today, MetLife’s annuity products are primarily institutional — serving employer-sponsored pension plans, group annuities, and structured settlement markets rather than individual retail consumers.
This review covers MetLife’s financial strength, what annuity products remain under the MetLife brand, Brighthouse Financial’s relationship to MetLife, and how to find the right alternative for individual annuity buyers.
MetLife at a Glance
| Detail | Information |
|---|---|
| Full Legal Name | Metropolitan Life Insurance Company |
| Parent Company | MetLife, Inc. (NYSE: MET) |
| Headquarters | New York, New York |
| Founded | 1868 |
| AM Best Rating | A+ (Superior) |
| S&P Rating | AA- (Very Strong) |
| Moody’s Rating | Aa3 |
| Total Assets | $700+ billion (global) |
| Annuity Products (Retail) | Primarily through Brighthouse Financial (spun off 2017) |
| Annuity Products (Institutional) | Pension buyouts, group annuities, structured settlements |
| States Available | All 50 states + D.C. |
MetLife’s Financial Strength
MetLife remains one of the most financially strong insurance organizations in the world. With over $700 billion in global assets and an AM Best A+ rating maintained for decades, the MetLife parent entity is among the most solvent in the industry.
For retail annuity buyers, however, the relevant entity since 2017 is Brighthouse Financial — not MetLife directly. Brighthouse Financial was created when MetLife separated its individual life insurance and annuity products into a standalone public company. Brighthouse Financial carries its own separate ratings (AM Best: A) and operates independently of MetLife, Inc.
MetLife vs. Brighthouse Financial — What Changed in 2017
Prior to 2017, if you searched for “MetLife annuity,” you would find a broad retail annuity lineup including variable annuities, FIAs, and income products. Today:
- MetLife (the entity) focuses on group benefits, institutional pension risk transfers, and corporate-owned life insurance. It is not a standard participant in the individual retail annuity market.
- Brighthouse Financial carries the individual retail products — the Shield annuity series (buffered/RILA), variable annuities, and income annuities — that were previously marketed under the MetLife brand. Brighthouse is now a separate public company (NYSE: BHF).
If you are looking to purchase an annuity because of MetLife’s brand recognition, Brighthouse Financial is the entity you should be evaluating. Alternatively, for clients who want MetLife’s financial strength in a retail-accessible annuity, New York Life and MassMutual are the closest comparisons in terms of ratings and distribution model.
MetLife Institutional Annuity Products
MetLife remains a significant player in institutional annuity markets. These products are not available to individual retail buyers, but they are relevant for clients whose pension benefits are backed by MetLife:
- Pension Risk Transfer Annuities — MetLife is one of the largest providers of pension buyout contracts, purchasing pension obligations from corporations and converting them to guaranteed annuity payments for plan participants.
- Structured Settlement Annuities — MetLife issues structured settlement annuities guaranteeing future payment streams from legal settlements.
- Group Annuities — Employer-sponsored guaranteed retirement income products available through corporate benefit programs.
Who Should Consider MetLife vs. Brighthouse Financial
- If you are a retail annuity buyer looking for a MYGA, FIA, or SPIA and you remember MetLife as a major annuity company — evaluate Brighthouse Financial for those products.
- If you are a pension plan participant and your plan has been transferred to MetLife, your payments are backed by MetLife’s A+ financial strength.
- If you want the highest possible financial strength ratings in a retail-accessible annuity, compare New York Life (A++/Comdex 100) and MassMutual (A++/Comdex 98) through My Annuity Store.
Contact MetLife
| Contact Method | Details |
|---|---|
| Website | www.metlife.com |
| Customer Service | 1-800-938-4646 |
| Mailing Address | Metropolitan Life Insurance Company 200 Park Avenue New York, NY 10166 |
| Hours | Monday–Friday, 8 a.m.–8 p.m. ET |
Looking for a Retail Annuity? My Annuity Store compares Brighthouse Financial, New York Life, MassMutual, Athene, and 20+ other top-rated individual annuity carriers. Get a free comparison quote or call 855-583-1104.
