A good life insurance company inspires confidence in order that families may face an uncertain future with a much-reduced level of concern. However, a truly great insurance provider takes this level of assurance a few steps further and can support an entire nation – especially in times of crisis.
Metropolitan Life Insurance Company (MetLife) has supported individuals and families – and indeed the entire nation – throughout its distinguished corporate history spanning already 150 years. MetLife can trace its roots back to 1863 when it offered insurance coverage to soldiers and officers fighting the US Civil War.
By 1930, one in five Americans had signed up with the insurance company to protect the future well-being of their nearest and dearest. MetLife continues to be the largest life assurer in the United States. Today, the company provides a full range of innovative insurance, retirement, and savings products. MetLife is also active in sixty other countries. In Japan, it is ranked the second largest foreign insurance provider.
In 1909, the Metropolitan Life Insurance Company Tower was erected in New York to house the MetLife corporate head office. At the time, the emblematic building was the world’s tallest structure. It was to serve as the company’s corporate headquarters until just ten years ago. MetLife also helped finance New York’s world-famous skyline: in 1929, it provided the funds that made the Empire State Building possible and two years later assisted with the financing of the Rockefeller Center.
For its very beginnings, MetLife has attached great importance to its corporate social responsibilities. The MetLife Foundation, set up in 1976, remains an exceptionally generous, and financially well-endowed, donor. The foundation focuses on healthcare, education, community, and culture. Its donations support an impressive number of non-profit organisations. The foundation also invests heavily in community engagement.
Immediately after the 9/11 attacks, the company made one billion dollars available to prop up publicly traded stocks and help restore investor confidence. This was not a first: during the Second World War, MetLife placed more than half its assets in war bonds and became the largest private contributor to the allied cause.
This insurance company is widely recognised as one of the best managed corporations in the United States and was an equal opportunity employer long before the term was coined. MetLife reported Q1 2015 earnings of $1.6 billion – up 5% over last year’s result and representing a return on investment of 14.4%.
Noting that this is the second award MetLife claims, the CFI.co judging panel has no hesitation in confirming the win and naming MetLife the Best Insurance Company United States 2015.