MetLife, Inc. (NYSE: MET) today announced it has completed the spin-off of Brighthouse Financial, Inc. (NASDAQ: BHF), forming two independent, publicly-traded companies. They expect to file pro forma financial statements on Form 8-K with the U.S. Securities and Exchange Commission in conjunction with the spin-off.
“We believe MetLife and Brighthouse Financial offer investors unique value propositions,” said MetLife, Inc. Chairman, President and CEO Steven A. Kandarian. “The spin-off is the centerpiece of MetLife’s continuing transformation into a less capital intensive company with stronger free cash flow.”
“MetLife’s core businesses – employee benefits, protection and fee-based retail products outside of the United States, and our growing asset management arm – position the company well for profitable growth,” Kandarian added. “We will be a simpler, more efficient and customer-focused company that delivers value for all of its stakeholders as we have throughout our nearly 150-year history.”MetLife