MetLife Lauds U.S., Korean Agreement Supporting American Jobs and Exports

NEW YORK--(BUSINESS WIRE)--MetLife, Inc. (NYSE: MET) applauded President Obama’s announcement today that the U.S. and Korean governments have reached an agreement on issues holding back the U.S.-Korean Free Trade Agreement (FTA). The landmark agreement enables greater access for U.S. insurers to Korea’s $65 billion insurance market and will help create jobs in America.

“This FTA will offer more choice to Korea’s robust middle class in need of financial protection and retirement savings”

MetLife, Inc. Chairman, Chief Executive Officer, and President C. Robert Henrikson praised those involved saying, “Today’s announcement is possible thanks to the unwavering commitment of both governments to overcome barriers to economic growth. By addressing regulatory obstacles to the Korean market, this FTA is a significant opportunity for American businesses and Korean consumers.”

MetLife has provided innovative and high quality financial products in Korea for over 20 years. The company’s reputation among consumers as a product innovator has helped Korea become one of MetLife’s largest markets globally. “This FTA will offer more choice to Korea’s robust middle class in need of financial protection and retirement savings,” said Mr. Henrikson. “MetLife looks forward to continuing to build our strong relationship with Korean consumers, offering products to help meet the country’s increasing demand for protection, retirement savings and employee benefits. We are proud of our heritage of providing private sector solutions to the many challenges facing aging populations and rapidly expanding and evolving workforces.”

The last step in this historic FTA is Congressional approval. “MetLife was very active as a resource on the financial services portion of this FTA, and will work closely with the White House and Congressional leaders to complete this agreement as soon as possible,” said Mr. Henrikson.

MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 60 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. For more information, visit www.metlife.com.

Note to Editors: C. Robert Henrikson was appointed in 2010 to the President’s Export Council, which offers private sector advice to the Administration on how to meet the President’s Export Initiative of doubling exports in the next five years.