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BRIEF-MetLife will not have approvals for Brighthouse spinoff in 2017 first half
May 4, 2017 / 1:16 PM / in 7 months

BRIEF-MetLife will not have approvals for Brighthouse spinoff in 2017 first half

May 4 (Reuters) - MetLife, Inc.

* Refreshed hedging strategy to prevent free cash flow from falling interest rates - call

* Much of MetLife’s first quarter derivatives loss was driven by strength in the u.s. Equity markets and separation of Brighthouse financial - call

* MetLife expects effective tax rate of 21 percent to 22 percent, driven by non-u.s. Operations that have tax rate lower than 35 percent-conf call

* MetLife expects targeted rate increases in auto of 7 percent in continuing year - conf call

* There is no material change to MetLife’s low interest hedges - conf call

* MetLife would be interested in making a group life acquisition if an opportunity became available - conf call

* MetLife’s revised hedging strategy within Brighthouse Financial includes instruments with one to three year durations-conf call

* MetLife says will not have the necessary approvals to complete spin-off of Brighthouse Financial in first half of 2017 - conf call

* MetLife says does not have exact estimate of when spin-off will be complete, but hopeful it will be in the coming months - conf call

* MetLife says on track to fully execute $3 billion repurchase authorization by year-end 2017 - conf call Source text for Eikon: Further company coverage: (Reporting by Suzanne Barlyn)

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