MetLife Insurance Company

John McCallion serves as CFO and head of MetLife Investment Management (MIM), overseeing the general account and third-party institutional mandates. The investment committee operates within MetLife's enterprise risk framework, with ultimate oversight from the board that includes non-executive chairman Glenn Hubbard. Michel Khalaf, CEO since 2019, sets the strategic direction for capital deployment across the enterprise.

MetLife originates whole loans through a network of regional mortgage production offices across the United States, holding most positions directly on the general-account balance sheet. The firm targets stabilized, income-producing properties with high-quality sponsorship, and its scale allows it to write individual loans north of $100 million without syndication dependency.

MetLife Investment Management manages both the general account and separate accounts for third-party institutional clients. The platform leverages the same origination and asset-management infrastructure that supports the parent company's insurance liabilities, offering external investors access to private-credit and real-estate strategies that mirror general-account allocations.

Infrastructure investments — both debt and equity — serve as a natural match for MetLife's long-dated liabilities. The firm deploys capital into responsible infrastructure globally, focusing on assets with contracted or regulated cash flows that align with insurance reserving requirements and duration targets.

The bulk of MetLife's investment portfolio is funded by policyholder premiums from its insurance businesses — life, health, annuities, and group benefits — rather than from limited-partner commitments. This liability-driven capital base gives the firm permanent, non-redeemable funding that shapes its long-duration investment posture.

MIM predominantly originates and holds whole loans and direct investments, consistent with a general-account insurance model. The firm does not operate as a fund-of-funds but may allocate selectively to third-party funds in niche sectors where direct origination is not operationally efficient or where co-investment rights provide sourcing advantages.

MetLife participates in co-investments when they provide direct exposure to assets that complement the general-account liability profile — most often in commercial real estate and infrastructure. The firm's permanent capital and hold-to-maturity capacity make it an attractive co-investor for operating partners seeking patient capital.

The MetLife Foundation is a separate philanthropic entity funded by MetLife, Inc., focused on financial inclusion and community development. It does not make market-rate investments and is firewalled from MIM's investment operations, though its grant-making often aligns with the communities where MetLife's investment portfolio has meaningful concentrations.