MetLife Reorganization To Drive Streamlined Product Development

William Mullaney, who has headed Institutional Business, has been named president of the new U.S. Business organization.

MetLife (New York) will combine its Institutional and Individual Business segments and its Auto & Home unit into a single U.S. Business organization, effective Aug. 1. The reorganization is the result of a strategic review begun two years ago, which was aimed at capitalizing on growth opportunities, according to a MetLife source. Combining the segments will enhance the carrier's product design and distribution capabilities, streamline its decision-making processes and drive profitable growth, the source claims.

"With this realignment, we are recognizing that we can better serve both employee benefit plan sponsors and individual customers through a single, integrated organization, while preserving our unique franchises," comments C. Robert Henrikson, chairman, president and CEO, MetLife. "Employers are increasingly shifting decision making about personal financial and retirement planning to employees. At the same time, both institutions and individuals recognize more than ever the importance of expertise, a strong balance sheet and trustworthiness in an insurance and financial services provider. This new structure will enable us to further strengthen our industry leadership."

"Our Institutional and Individual Businesses have always been complementary, but by bringing them together we will increase our speed in delivering new products and solutions to the market, better leverage our distribution channels, enhance efficiencies, and expand services to our customers. A unified U.S. Business organization creates a stronger growth platform and builds on our financial strength and our strong brand," Henrikson adds.

William J. Mullaney, who has served as president of MetLife's Institutional Business since January 2007, has been named president of the U.S. Business organization. In previous roles at MetLife, Mullaney was president of MetLife Auto & Home, served as senior vice president for claims and customer service at Auto & Home and was responsible for MetLife's voluntary benefits business.

"We look forward to integrating our businesses, which will broaden opportunities for our associates and our distribution channels," says Henrikson. "While seamless to our customers, these structural changes will enable us to provide the insurance and retirement products and services best designed to help customers address their challenges."

At press time a MetLife spokesperson was unable to comment on the implications of the reorganization for the carrier's technology organization.

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio