MetLife U.S. Retail Separation Update (11/7/16)

MetLife U.S. Retail Separation

Earlier this year, we announced plans to pursue a separation of a substantial portion of our U.S. Retail business, which includes the retail distribution of individual life insurance policies and annuity contracts issued by MetLife Insurance Company USA (MLUS), First MetLife Investors Insurance Company (FMLI) and New England Life Insurance Company (NELICO). In July, we announced the name of this separated business that will continue with the U.S. retail distribution of MLUS, FMLI and NELICO products would be Brighthouse Financial. We are excited about the positive impact this will bring, and we thank you for your continued partnership during this time of transition.
The ultimate form and timing of any separation of Brighthouse Financial from MetLife will be influenced by a number of factors, including regulatory considerations and economic conditions.  As we continue to plan for a separation, we have important information for you that may affect your firm. Please review this information carefully and contact your Strategic Relationship Manager with any questions.

 We expect the following changes to take effect on March 6, 2017:

Legal Entities

  • The new Broker Dealer for Brighthouse Financial will be Brighthouse Securities, LLC. We are in the process of obtaining FINRA approval for the new Broker Dealer.
  • MLUS, FMLI and NELICO, and thus the contracts/policies they have issued, will be part of Brighthouse Financial.
  • Issuing Insurance Company names will change to the following:
    o   MetLife Insurance Company USA will be renamed Brighthouse Life Insurance Company.
    o   First MetLife Investors Insurance Company will be renamed Brighthouse Life Insurance Company of NY.
  • New England Life Insurance Company will be part of Brighthouse Financial but the Issuing Insurance Company name will not change.
  • The MetLife Investors Distribution Company (MLIDC) Broker Dealer will remain with MetLife. 
  • Metropolitan Life Insurance Company (MLIC) will remain with MetLife so it is not impacted by the separation. There will be no changes to existing policies, contracts and product features under this Issuing Insurance Company.
  • The new holding company name will be Brighthouse Financial, Inc.

Industry Automation/Operations

  • CUSIP numbers will not change on March 6, 2017.  The CUSIP numbers will change in the 2nd half of 2017 for all new and existing products currently under MetLife Insurance Company USA and First MetLife Investors Insurance Company.
  • There will be no changes to DTCC Participant Numbers or NAIC numbers.
  • Bank Account names will change, but ACA and account numbers will not change.
  • Tax IDs will not change.

For those who need to participate in testing, we will inform you of the testing dates in future communications.

For questions, you can contact the MetLife Relationship Management team at or your Strategic relationship Manager.


  • All financial advisor appointments will remain the same, but the name of the issuing companies will be changed to the appropriate Brighthouse Financial Issuing Insurance Company. No action is required at this time by the advisor.

Licensing & Contracting

  • All contracts will be updated to reflect Brighthouse Financial and no further action will be required at this time.  Firms and advisors will receive more information on or around November 1, 2016.


Firm Communications

  • We will send important information regarding the separation to you as it becomes available. Consistent with our normal procedure, we will notify you prior to sending communications to advisors (if allowed at your firm) and clients.  

Advisor and Client Communications

Advisors (if allowed at your firm) and clients will be notified of changes relating to the separation in accordance with legal and regulatory requirements.

Upcoming Advisor Communications (if allowed at your firm):

  • Advisor Notification Letter of Separation from MetLife
    o   Will be sent on or around November 15th via direct mail and November 29th via email.
    o   Provides a high level overview of the separation, notification that their clients with Brighthouse Financial policies will begin to receive mail referencing the separation and a URL to learn more at to get the most up-to-date information.
    o   Attached is a copy of the Advisor Letter

Upcoming Client Communication:

  • Client Notification Letter of Separation
    o   Will be sent to clients December 5th – December 25th.
    o   Provides a high level overview of the separation, notification that they will begin receiving communications from MetLife and Brighthouse Financial, a URL to learn more at, and a phone number for them to contact us if more questions.
    o   Attached is a copy of the Client Letter

Brighthouse Financial, Inc. filed a Form 10 on Wednesday, October 5 with the Securities and Exchange Commission (SEC). The filing of the Form 10 is an important step in MetLife’s plan to separate a substantial portion of its U.S. Retail business. The filing provides information on the strategy and historical financial data of Brighthouse Financial, and will be updated with additional information in subsequent amendments as the SEC reviews it.  

The separated company, to be rebranded Brighthouse Financial, intends to focus on offering products that provide life insurance and annuity solutions for the U.S. Retail market.1


  • Total Assets:                                      ~$240 billion
  • Life insurance in-force:                 ~$630 billion

Brighthouse Financial Operating Companies Ratings3

A3/7th highest of 21 ratings
Upper Medium/Stable
Moody's A3 rating indicates a relatively high level of company creditworthiness.  The rating denotes that whatever securities are being rated are upper-medium grade and are subject to low credit risk.

A+/5th highest of 21 ratings
A+ is one of the top ratings that S&P assigns.  This rating signifies that the security or carrier has stable financial backing and ample cash reserves.  The risk of default for investors or policyholders is very low. 

A+/5th highest of 19 ratings
Fitch's A ratings denotes expectations of high credit quality and low default risk.  The capacity for payment of financial commitments is considered strong.  

A.M. Best
A/3rd highes of 16 ratings
Best assigns a rating of A to insurance companies that have an excellent ability to meet their ongoing insurance obligations. 

As we’ve communicated in the past, we are committed to keeping you informed regarding the progress pertaining to the planned separation of MetLife’s U.S. Retail business and the potential establishment of Brighthouse Financial.  For additional information, please reference the most recent news release from MetLife, or visit As always, feel free to contact me directly with any additional questions.


The material in this communication is intended solely for purposes of firm due diligence to determine whether to distribute the products of Brighthouse Financial issuing companies through firm platforms.  It should not be further distributed by any recipient.  It is not an offer of any securities of any Brighthouse company or any other company.  Any offers and sales of securities of any Brighthouse company will be made pursuant to an effective registration statement and an accompanying statutory prospectus in accordance with the Securities Act of 1933, as amended.
 1 Subject to regulatory approval, MetLife Insurance Company USA, Charlotte, NC 28277, and First MetLife Investors Insurance Company, New York, NY 10166 will be renamed and Brighthouse Financial insurance and annuity products will be issued by Brighthouse Life Insurance Company or Brighthouse Life Insurance Company of NY (in New York only), respectively. Variable annuities will be distributed through Brighthouse Securities, LLC, which has applied for FINRA membership and SEC registration, and expects to have its necessary approvals prior to Brighthouse Financials first day of operation.
2 All data as of, or for, the six months ending June 30, 2016 (or other period indicated) is based on the hypothetical separate operation of Brighthouse Financial, unless otherwise indicated. The historical results presented are not necessarily indicative of financial results to be achieved in future periods, or what financial results would have been had Brighthouse Financial been a separate, publicly traded company during the periods represented.
3 Operating entities rated include MetLife Insurance Company USA (ML-USA), New England Life Insurance Company (NELICO) and First MetLife Investors Insurance Company (FMLI); note, Moody’s and S&P ratings excludes FMLI (ratings as of October 2016).

Brighthouse Financial (and design) is a service mark of MetLife Insurance Company USA.