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Benmosche oversaw a period of significant strategic growth for MetLife. This included the major acquisition of Citigroup’s Travelers Life & Annuity business in 2005, which made MetLife the clear market leader in North America based on life insurance sales.
Benmosche also led the company’s geographic expansion in Asia, including forming a joint venture in China in 2006. And in 2000 under his leadership, MetLife converted from a mutual insurance company to a publicly traded company.
This was the largest IPO in the insurance industry's history at that time, raising MetLife’s market value to over $4 billion.
However, MetLife did face some controversies under Benmosche.
The 2000 IPO resulted in years of litigation from policyholders claiming MetLife misrepresented information during the conversion process. This ended in a $50 million settlement in 2009 after Benmosche departed the firm.
Overall, Benmosche oversaw massive growth, major acquisitions, and geographic diversification for MetLife. But legal issues tied to corporate structuring changes tainted parts of his legacy.
By expanding MetLife’s footprint while positioning it for the public markets, Benmosche built on the company's strengths but also ushered in some growing pains felt after his departure.
His ambitious growth agenda created lasting shareholder value but also some conflicts with policyholders amidst sweeping corporate changes.
Henrikson presided over steady growth at MetLife even in the face of major external challenges.
He took over leadership just prior to the 2008 global financial crisis. Despite economic recession, MetLife increased revenues by 11.5% between 2008-2009 as policy sales remained strong.
A key aspect of Henrikson's strategy was international expansion, especially in emerging markets.
The 2010 acquisition of American Life Insurance Company (Alico) from AIG greatly expanded MetLife's presence in Japan, Europe and Latin America. This deal added 20 million customers globally.
However, by 2011 there were concerns that MetLife's widened footprint threatened its classification as an insurance provider, risking stricter bank-like regulations.
So later moves were made to shed banking components of the business.
In navigating recession storms while continuing to grow policyholder ranks, Henrikson sustained positive momentum through a turbulent period.
But major acquisitions ultimately introduced some regulatory uncertainties to the business. Overall he posted steady gains and expanded MetLife’s global reach, though inherited some structural issues upon his 2011 departure.
Kandarian took the reins as CEO in 2011 in the midst of the fallout from the global financial crisis.
He continued his predecessor's focus on global expansion, especially in developing markets like Mexico, Japan, Chile and South Korea. This overseas growth provided new revenue streams amidst a lagging U.S. economy.
However, MetLife faced controversies under Kandarian's leadership stemming from its systemic importance and "too big to fail" classification.
MetLife ultimately sued federal regulators in 2015 to fight this designation and associated oversight.
In 2016, Kandarian also oversaw MetLife's spinoff of its U.S. retail business into Brighthouse Financial.
This renewed the company's focus on corporate clients and high net worth individuals. The Brighthouse spinoff proved positive for MetLife’s share price near the end of Kandarian’s tenure.
So while he sustained growth globally, Kandarian grappled with regulation domestically - from legal battles over systemic designations to reorganizing U.S. operations.
He successfully diversified revenue abroad but often found MetLife scrutinized more intensely stateside due to its scale and importance.
Khalaf became CEO at a time of historical low interest rates and liquidity across markets globally. This challenging climate makes profitable growth difficult for insurers.
Nonetheless, Khalaf has sustained MetLife's track record of strength, with the firm reporting record adjusted earnings in 2021.
Seeking long-term growth amidst stubbornly low rates, Khalaf spearheaded MetLife's expansion into pet insurance in 2023—tapping into a rapidly growing market segment.
Early in 2020 he also oversaw MetLife's $3.94 billion sale of its auto and home business to Zurich Insurance Group as part of strategic refocusing.
As Khalaf continues serving presently as both CEO and President, his years at the helm have reflected pragmatism amidst a tough macroeconomic backdrop, exiting some business lines while entering promising insurance markets.
By taking decisive strategic action, he has sought to position MetLife's varied insurance products for changing consumer and corporate client tastes in the 2020s.
With interest rates expected to rise in the coming years, MetLife under Khalaf's steady guidance could see a profit tailwind after weathering a challenging low-rate climate.
His strategic bets setting up MetLife for the future will continue playing out in years to come.
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