MetLife Inc. will change `its product mix in the United States and push harder for growth in international markets to substantially boost returns by 2016, the largest U.S. life insurer said on Wednesday.
MetLife also said it had received two subpoenas in April and May from regulators looking into mortgage servicing and foreclosure practices at its banking unit. The company had shut its mortgage businesses by then, and is in the process of selling the deposit-taking portion of the bank to General Electric Co.
MetLife shares were down 2.7 percent in late-morning trading and were among the biggest decliners in the S&P insurance index . The fall was a continuation of the stock’s slide over the last two months.Read more...
(Ref: Insurance Journal May 24, 2012)
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