MetLife finalises $10bn variable annuity risk transfer with Talcott

MetLife, Inc., a provider of insurance, annuities, and employee benefit programmes, has finalised its previously announced $10 billion variable annuity risk transfer transaction with Talcott Resolution Life Insurance Company, a life insurance and annuities subsidiary of Talcott Financial Group.The company expects an annual reduction in adjusted earnings of roughly $100 million, partially offset by estimated hedge cost savings of about $45 million.This transaction reduces MetLife’s portfolio risk, speeds up ...