Could A Federal Judge Explain To MetLife What ‘Systemically Important’ Means, Exactly?

Author:
Publish date:

MetLife’s just not sure we have enough information or experience to know whether the largest insurer in the United States, with only 90 million customers in 60 countries and $900 billion or so in assets, could really be said to be “important” or to pose a “risk” in any kind of serious way. I mean, for argument’s sake, shouldn’t we wait a little longer to see whether a 147-year-old startup like MetLife really matters meaningfully? Steven Kandarian is just asking. In lawsuit form.

MetLife Chairman and Chief Executive Steven Kandarian called the U.S. designation “premature” in the news release because the rules aren’t yet crafted that will govern MetLife and the other insurers. “The council should wait until the rules are in place and it knows the impact on designated firms,” he said.

The 62-year-old executive has been adamant in recent months that the state-regulated insurer doesn’t deserve the designation because if it were to fail, it wouldn’t bring down any other companies.

MetLife to Challenge ‘Systematically Important’ Tag [WSJ]

Related