OREANDA-NEWS. MetLife, Inc. (NYSE:MET) today announced that its board of directors has authorized additional repurchases of MetLife common stock, bringing MetLife’s available repurchase authorization to $1 billion. In the first quarter of 2015, MetLife completed a $1 billion common stock repurchase program announced in December 2014.

Commenting on the announcement, MetLife Chairman, President and Chief Executive Officer Steven A. Kandarian said:

“Our philosophy is that excess capital belongs to MetLife’s shareholders. This new authorization is consistent with the prudent capital management strategy we have been employing as we await clarity on the capital rules for federally regulated life insurers.”

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.