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MarketScreener Homepage  >  Equities  >  Nyse  >  MetLife, Inc.    MET

METLIFE, INC.

(MET)
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MetLife : to Acquire Digital Estate Planning Capabilities

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11/20/2019 | 02:31pm EDT

Acquisition of Willing Brings New Technology Capabilities to MetLife

MetLife, Inc. (NYSE: MET) (“MetLife”) and Bequest, INC (d/b/a Willing), a leading digital estate planning service, today announced they have entered into a definitive agreement under which MetLife will acquire Willing. This transaction brings new digital capabilities to MetLife and reinforces the company’s commitment to providing simple and easy-to-use benefits that respond to consumer needs.

Willing makes it easy to create a quality estate plan in as little as 15 minutes from anywhere. Since its inception in 2015, Willing has helped more than half a million families create important legal documents such as wills, trusts, and powers of attorney.

“Willing serves a digitally native audience unlikely to go see an attorney for estate planning services,” said Todd Katz, executive vice president, Group Benefits at MetLife. “Willing complements Hyatt Legal, our existing legal services offering, and positions us to lead the industry by offering customers more choices in how they address their estate planning needs.”

Willing’s services will continue to be offered to consumers online and there are plans in place to make the services available to MetLife’s group customers. The addition of Willing brings new technology capabilities to MetLife.

“Whether you’re on Willing after having a baby, buying a home, or are just planning for the unexpected, our mission has always been about protecting the people you love,” said Eliam Medina, CEO and founder of Willing. “MetLife is a global leader in protection solutions and together we can quickly scale Willing’s technology to make quality estate planning easy and affordable to millions of families.”

The deal is set to close this year and is subject to customary closing conditions and approvals.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

About Willing

Willing is an online service that makes it easy and affordable to create a quality estate plan in as little as 15 minutes. Since its inception in 2015 Willing has helped more than half a million families create important legal documents such as wills, trusts, and powers of attorney. The company is based in Miami, FL. For more information on our mission and products, visit www.willing.com.

This news release may contain or refer to forward-looking statements. Forward-looking statements give expectations or forecasts of the future using terms such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “will,” and other terms tied to future periods. Results could differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements are based on assumptions and expectations. They involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. The company has no obligation to correct or update any forward-looking statement.


© Business Wire 2019
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Financials (USD)
Sales 2020 63 403 M
EBIT 2020 7 208 M
Net income 2020 6 460 M
Debt 2020 -
Yield 2020 5,45%
P/E ratio 2020 4,36x
P/E ratio 2021 6,17x
Capi. / Sales2020 0,48x
Capi. / Sales2021 0,46x
Capitalization 30 259 M
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 42,94 $
Last Close Price 33,34 $
Spread / Highest target 77,0%
Spread / Average Target 28,8%
Spread / Lowest Target -4,02%
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Michel A. Khalaf President, Chief Executive Officer & Director
Robert Glenn Hubbard Chairman
Bill Pappas Executive VP & Head-Global Technology & Operations
John D. McCallion Chief Financial Officer & Executive Vice President
Jacki Goldstein Chief Medical Officer
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