Metlife Insurance Company Pension Plan

The plan's assets are managed inside the general account of MetLife, Inc., where President and CEO Michel A. Khalaf holds ultimate executive authority. Day-to-day portfolio management is carried out by MetLife Investment Management, the firm's institutional asset management unit, though the specific CIO and PM structure for the pension account is not separately disclosed.

MetLife acquires real estate directly and through joint ventures. A disclosed example is the Intersect office park in Irvine, California, owned in partnership with Dutch pension manager PGGM. The plan also holds iconic direct assets such as the MetLife Building at 200 Park Avenue in Manhattan.

No. The pension obligations are pooled with MetLife, Inc.'s broader general account, meaning the plan's assets are not segregated into a separate legal vehicle or trust with independent governance. This structure subjects the pension's asset allocation to the insurance company's enterprise-wide liability-matching and capital requirements.

Yes. Beyond public equities and fixed income, the plan commits to real estate equity, opportunistic private credit, and hedge funds. One known vehicle is the MetLife Opportunistic High Yield Fund, deployed globally. The plan also has a history of experimenting with operational technology, including an Ethereum-based claims pilot.

MetLife is an active member of the Institutional Investor Group on Climate Change (IIGCC), aligning its portfolio construction with climate risk considerations. CEO Michel Khalaf also signed the Business Roundtable's 2019 statement on stakeholder governance, which includes long-term investment principles that influence how the pension's assets are managed.