HONG KONG--(BUSINESS WIRE)--MetLife Limited (“MetLife Hong Kong”)*, a wholly-owned subsidiary of MetLife, Inc., the #1 US life insurer^, announced today that it has been assigned an “A+” rating with a stable outlook from Standard & Poor’s Ratings Services (“Standard & Poor's”). MetLife continues to grow its position in Hong Kong, expanding its relationship with the market’s high-net-worth and mid-affluent consumers.
This rating update follows MetLife Hong Kong's achievement as Company of the Year (Insurance) by the prestigious BENCHMARK Wealth Management Awards 2015.
Mr. Lennard Yong, Chief Executive Officer of MetLife Hong Kong, said, “Standard & Poor’s has recognized MetLife Hong Kong as a strategically important subsidiary to MetLife, Inc. We are very pleased to receive this strong credit rating assigned by Standard & Poor's. The “A+” rating is a testament to our financial strength, our globally diversified investment and risk management strategy. Our commitment to delivering innovative products and services to our customers is the key driving force behind our business growth and expansion in Hong Kong. MetLife Hong Kong is driving a growth agenda in the market, and we welcome Standard & Poor’s release which underscores the financial stability of our business.”
By leveraging the scale as well as the global risk management and investment expertise that its US corporate home office has built up over nearly 150 years, MetLife Hong Kong further gains a competitive advantage in investment results with broadened access to a range of asset classes and capabilities of USD asset trading, US securities selection and credit research.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world#. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information about MetLife Hong Kong, visit www.metlife.com.hk.
*MetLife Limited (“MetLife Hong Kong”) is a wholly-owned subsidiary of MetLife, Inc. in Hong Kong and a private company limited by shares incorporated and registered under the applicable laws in Hong Kong. MetLife Limited is an authorized insurer carrying long term business in Hong Kong.
^Axco Global Statistics 2014
#Based on non-banking assets according to A.M. Best research 2012 data, Best’s Review July 2014