MetLife adds former Swiss Re CEO to its board

NEW YORK - MetLife, Inc. (NYSE: NYSE:MET), a $56 billion market cap insurance giant with a solid 2.65% dividend yield, has announced the election of Christian Mumenthaler, former Group Chief Executive Officer of Swiss Re (OTC:SSREY), to its board of directors, effective May 1, 2025. According to InvestingPro data, MetLife stands as a prominent player in the insurance industry, maintaining a 12-year streak of dividend increases. Mumenthaler’s extensive background in the insurance and reinsurance industries is expected to contribute to MetLife’s strategic initiatives.

Mumenthaler brings a wealth of experience to the board, having served at Swiss Re for over 25 years. His tenure at the Zurich-based company included roles such as Group Chief Risk Officer and Head of Life & Health. He also led the Group Retro and Syndication unit and was Chief Marketing Officer, Reinsurance, before his appointment as Chief Executive Officer, Reinsurance, in 2011.

MetLife’s chairman, R. Glenn Hubbard, expressed confidence in Mumenthaler’s abilities, citing his strategic vision and deep industry expertise as valuable assets for the company. MetLife President and CEO Michel Khalaf echoed these sentiments, highlighting Mumenthaler’s industry knowledge and innovative approach as key factors in driving the company’s New Frontier strategy. The company’s strong financial performance, with $71 billion in revenue and $4.2 billion in net income over the last twelve months, underscores its market leadership.

Beyond his executive roles, Mumenthaler is recognized for his academic achievements, holding a doctorate in physics from the Swiss Federal Institute of Technology (ETH) in Zurich. His industry influence extends through various leadership and membership positions, including co-chair of the World Economic Forum Alliance of CEO Climate Leaders and board memberships with the Geneva Association and economiesuisse.

MetLife, a global financial services provider with a history dating back to 1868, offers products and services including insurance, annuities, employee benefits, and asset management. The company has a significant presence in over 40 markets worldwide and maintains leading positions across several regions.

The addition of Mumenthaler to MetLife’s board is part of the company’s ongoing efforts to enhance its governance and strategic direction. This announcement is based on a press release statement from MetLife, Inc.

In other recent news, MetLife reported mixed fourth quarter results, with earnings per share matching analyst estimates at $2.09. The company saw a significant increase in net income, reaching $1.2 billion, up from $574 million in the same period last year. However, total revenues were impacted by losses in net investment income and derivatives, despite a 6% growth in premiums, fees, and other revenues. Analysts had varied reactions, with TD Cowen and Jefferies maintaining buy ratings, while Morgan Stanley (NYSE:MS) highlighted the importance of MetLife’s execution on its 2025 outlook.

Additionally, MetLife announced the departure of Executive Vice President and Chief Accounting Officer Tamara L. Schock, effective March 2025, as she pursues other opportunities. The company has not yet announced her successor. In another executive move, MetLife appointed Nick Nadgauda as the new Chief Information Officer, effective March 2025, to oversee the company’s technology strategy.

Furthermore, MetLife declared a quarterly dividend of $0.545 per share for the first quarter of 2025, continuing its practice of returning value to shareholders. Meanwhile, Metaplanet Inc. successfully raised approximately $26.1 million through zero-interest bonds to purchase additional Bitcoin, aligning with its strategy to expand Bitcoin holdings significantly by 2026.

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