MetLife To Rebrand U.S. Retail Business As Brighthouse Financial

(RTTNews) - MetLife Inc. (MET) said that it will rebrand its U.S. Retail business as Brighthouse Financial after it is separated from the Company. In January, MetLife announced it was planning to separate a substantial portion of its U.S. Retail business. It continues to evaluate options regarding the structure and timing of the separation.

Brighthouse Financial will be led by current MetLife Executive Vice President Eric Steigerwalt.

No shareholder approval is expected to be necessary. The MetLife Board of Directors would have to approve any separation transaction; certain insurance and other regulatory approvals would also be necessary. The transaction would also need to comply with any U.S. Securities and Exchange Commission (SEC) requirements. No assurance can be given regarding the form that a separation transaction may take or the specific terms thereof, or that a separation will in fact occur.