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BUSINESS
March 9, 2010
CHARLOTTE, N.C. - American International Group Inc. said Monday that it will sell its American Life Insurance Co. division for $15.5 billion to MetLife Inc. The government-approved deal will give the insurer more cash to repay the billions of bailout dollars it still owes the government. The purchase expands MetLife's presence in Japan and high-growth markets in Europe, the Middle East and Latin America. American Life Insurance, known as Alico, operates in more than 50 countries. MetLife offers services in 17 countries.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | April 30, 2012
Regulators nationwide are pushing life insurers to do a better job of tracking when policyholders die and locating the beneficiaries — an effort that could reap billions of dollars for consumers. Insurers regularly monitor Social Security's Death Master File to verify the death of a customer receiving annuity payments so they can cut off checks. But an ongoing, multistate investigation has found that life insurers haven't been using this information to identify policyholders who died and to pay beneficiaries.
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BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,Washington Post Writers Group | May 30, 1994
NEW YORK -- Attention all customers of the Metropolitan Life Insurance Co. Now is the time to reflect on whether you were misled, if you bought insurance under the guise of a savings plan, and what you want to do about it. The deadline is nearing for a class-action settlement that can get you your money back. You have until June 13 to act.Even if you don't have a MetLife policy, the restitution rules will interest you, because they show you one way of spotting deceptive sales.The lawsuit was filed in Florida last November, on behalf of three nurses who were sold a "retirement plan."
EXPLORE
February 21, 2012
Carol Frey, of Rosedale, was named Distinguished Lutheran Secondary Educator of the year by the staff of the Lutheran Education Association Secondary Educator's Network. After graduating from Baltimore Lutheran School and then receiving her B.A. in education from Concordia University, Chicago, she started teaching at BLS in 1983. Then in 1988 and for the next five years, Frey worked as an assistant to the pastor at Bethlehem Lutheran Church. Frey later added an M.S. with an emphasis in middle level education from Walden University in Minneapolis.
BUSINESS
By Edward Gunts | January 19, 1991
One of the original property owners in Baltimore's Charles Center renewal area has sold the last of its holdings there.Metropolitan Real Estate Investments, an affiliate of Metropolitan Life Insurance Co., announced this week that it sold the land beneath the One Charles Center office tower last month for an undisclosed sum.Metropolitan Life is affiliated with Metropolitan Structures, the builder that won a city competition to construct the 22-story office...
NEWS
By Gady A. Epstein and Gady A. Epstein,SUN STAFF | June 29, 1998
When Elizabeth J. Rappaport showed up at Howard County's annual Older Americans' Day Luncheon recently, she got more than lemon chicken and cheesecake for her $3 ticket.She was introduced to Metropolitan Life Insurance Co. agents, who played a central role in the luncheon: MetLife agents ran a prize drawing, handing out Snoopy dolls and gift certificates; a regional MetLife official gave a speech, mentioning MetLife products and introducing the cadre of agents in attendance; and the company invited the 700 seniors there to seminars on long-term care insurance.
NEWS
By Gady A. Epstein and Gady A. Epstein,SUN STAFF | June 30, 1998
Two top state lawmakers yesterday questioned the close relationships county aging offices are forging with Metropolitan Life insurance company, saying they could smack of government-sanctioned endorsements.Senate President Thomas V. Mike Miller Jr. suggested that counties with MetLife partnerships -- including Baltimore County, Anne Arundel, Harford and Howard -- ask their local ethics panels to review the relationships. Del. Michael E. Busch, chairman of the House committee that oversees insurance issues, went further, saying counties shouldn't enter into such exclusive partnerships.
BUSINESS
By BLOOMBERG NEWS | April 5, 2000
NEW YORK -- MetLife Inc. raised $2.88 billion yesterday in the largest U.S. stock sale so far this year, ending 85 years of ownership by its policyholders and giving the nation's biggest life insurer shares to make acquisitions and pay employees. The offering, which was halved in March when life insurance stocks were plunging, helped MetLife raise a total of $4.6 billion, including a sale of shares to underwriters and a bond offering. The company that uses Snoopy and other Peanuts cartoon characters to advertise its life and health insurance policies sold 202 million shares at $14.25 each, at the middle of its selling range of $13 to $15 a share.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | October 8, 2004
MetLife Inc., the financial and insurance services company, plans to move more than 100 workers from its White Marsh and Linthicum offices to one of the city's newest redevelopment projects in Canton, project brokers and developers said yesterday. MetLife signed a 10-year lease for about 20,000 square feet in Brewers Hill, a collection of buildings in a popular waterfront neighborhood that will become offices, shops and residences, according to developers Struever Bros. Eccles & Rouse and Obrecht Commercial Real Estate.
BUSINESS
By Jane Bryant Quinn and Jane Bryant Quinn,Washington Post Writers Group | February 27, 2000
TENS of millions of Americans are becoming accidental shareholders. They own insurance policies or annuities from mutual insurance companies. Many of these companies are going public and offering customers some stock. John Hancock went public at the end of January, making shareholders out of an estimated 1 million of its policyholders. Sun Life of Canada and Metropolitan Life will follow suit in early spring, scattering shares on nearly 9 million more. The giant Prudential is heading toward a public offering, too. Policyholders aren't forced into owning shares.
EXPLORE
February 6, 2012
Redmer Insurance Group has named Caesar Rossilli, a Harford County native and Kingsville resident, personal lines manager. Rossilli is a 17-year veteran of the insurance industry. At Redmer Insurance Group, he oversees the sale of personal lines insurance including auto, home, life, umbrella, recreational vehicles and boat policies. Prior to joining Redmer Insurance Group, Rossilli served as regional insurance manager for Long & Foster Insurance Agency, Inc. Earlier, he held the positions of financial service representative and sales manager at MetLife and sales representative for Liberty Mutual Insurance Company.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun and Baltimore Sun reporter | November 11, 2011
Mary Suzanne Beck Keech, a corporate managing director of Studley Inc., a Washington commercial real estate firm, who was also an active alumna of Garrison Forest School, died of cancer Monday at Georgetown University Hospital. The former Catonsville resident had celebrated her 46th birthday last month. The daughter of Rea Keech, a former Buick automobile dealer, and Mary Keech, a Talbots Cross Keys sales associate, Mary Suzanne Beck Keech was born in Baltimore and raised in Catonsville.
NEWS
By Peter Hermann, The Baltimore Sun | March 27, 2011
The owner of a Towson title agency was sentenced to more than six years in federal prison for defrauding lenders out of $3.9 million in eight months, the Maryland U.S. attorney's office announced Friday. Anthony V. Weis, 45, pleaded guilty to charges of mail and wire fraud and was ordered to report to the U.S. Bureau of Prisons to begin his sentence May 17. The president of Maple Leaf Title also was ordered to pay $4 million in restitution to 13 victims and their insurance companies.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 6, 2010
Old Mutual announced Friday that it is selling its Baltimore-based life insurance operation to a private equity firm for $350 million, far less than what it paid nine years ago. The company bought the division — part of the former U.S. Fidelity & Guaranty Corp. — from the St. Paul Cos. in 2001 for $635 million. Old Mutual is trying to improve its balance sheet and reduce its "risk profile," and is selling to an affiliate of New York-based Harbinger Capital Partners LLC. The life insurance operation employs 163 in Baltimore.
BUSINESS
March 9, 2010
CHARLOTTE, N.C. - American International Group Inc. said Monday that it will sell its American Life Insurance Co. division for $15.5 billion to MetLife Inc. The government-approved deal will give the insurer more cash to repay the billions of bailout dollars it still owes the government. The purchase expands MetLife's presence in Japan and high-growth markets in Europe, the Middle East and Latin America. American Life Insurance, known as Alico, operates in more than 50 countries. MetLife offers services in 17 countries.
FEATURES
By Glenn McNatt and Glenn McNatt,SUN ART CRITIC | January 30, 2008
The Maryland Science Center has received a $1 million gift from a major insurance firm to help fund an innovative exhibition about cell biology research that will open next year. MetLife Foundation, the philanthropic arm of New York-based insurer MetLife - formerly known as the Metropolitan Life Insurance Co. - donated the funds to support the coming show, Cells: The Universe Inside Us, which will go on display at the Science Center in March 2009. "We're using technology to let visitors experience what happens on the most basic level inside our bodies," Science Center President and CEO Van Reiner said yesterday.
BUSINESS
By Jane Bryant Quinn and Jane Bryant Quinn,Washington Post Writers Group | October 24, 1999
WHAT PASSES for justice in the class action lawsuits against life insurance companies continues to plod its tragic way through the courts. Tragic, because so many trusting people aren't being made whole.I keep hearing from Prudential policyholders who feel that the mediation process, set up to right their wrongs, didn't come anywhere close to replacing what they'd lost.On another front, a deadline is fast approaching for about 7 million policyholders of Metropolitan Life.The MetLife lawsuit, like the suit against Pru and some other insurers, alleged a number of deceptive sales practices.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,Washington Post Writers Group | February 13, 1994
NEW YORK -- Life insurance scandals continue to ripple through American pocketbooks. The landscape feels like the Wild West. Too many outlaws, not enough sheriffs.The latest headline-grabber originated at giant Metropolitan Life. MetLife agents based in Tampa, Fla., gulled customers out of some $11 million, by selling them so-called "retirement plans" that were cash-value life-insurance policies in disguise. Buyers thought that their monthly payments were pure investments; in fact, they were life-insurance premiums.
BUSINESS
By BLOOMBERG NEWS | October 18, 2006
NEW YORK -- Tishman Speyer Properties LP, the owner of New York's Rockefeller Center, and BlackRock Realty won the auction yesterday to buy MetLife Inc.'s Peter Cooper Village and Stuyvesant Town, Manhattan's largest apartment complex, for $5.4 billion. The buyers plan to keep the apartments as rentals, said Robert Speyer, Tishman Speyer managing director. The 80-acre, 110-building, 11,200-unit complex is home to generations of teachers and firefighters, lawyers and Wall Street workers.
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