NEW YORK, Nov. 1 — MetLife, a provider of insurance, annuities and employee benefit programs, issued the following news release:
MetLife, Inc. (NYSE: MET) today announced that its board of directors has approved a new $2 billion authorization for the company to repurchase its common stock. In May 2018, MetLife announced a $1.5 billion repurchase authorization and the company has bought back approximately $1 billion of its common stock under that board authorization.
Commenting on the announcement, MetLife Chairman, President and CEO Steven A. Kandarian said:
“Excess capital belongs to our shareholders, and we are pleased to announce a new $2 billion share repurchase authorization. Taken together with the balance from our prior authorization, MetLife has current authorized buyback capacity of almost $2.5 billion.”