DEPARTMENT APPROVES METLIFES DEMUTUALIZATION PLAN
Superintendent of Insurance Neil D. Levin today announced that the Department has approved the Metropolitan Life Insurance Companys plan to demutualize, converting from a mutual company, owned by its policyholders to a stock company. Levin determined that MetLifes plan is fair and equitable to the policyholders.
The Department held a public hearing on MetLifes demutualization plan January 24th. The hearing marked the first time the Department made the video of a public hearing available to consumers on its Web site with a webcast.
The Departments Opinion and Decision will be available on the Departments Web site at www.ins.state.ny.us.