S&P affirms MetLife

S&P said it affirmed its A+ long-term local currency issuer credit rating on MetLife Ltd.

The outlook is stable.

The agency said it affirmed the ratings because it expects MetLife to remain a strategically important subsidiary of MetLife Inc. over the next two years.

MetLife has benefitted from operational and financial support from its parent over recent years and is considered important to the group's growth aspirations in Asia, S&P said.

However, the agency and broker distribution model has been slow to generate inroads in the competitive Hong Kong life market, and MetLife remains well outside the top 10 players, the agency noted.

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