NEW YORK--(BUSINESS WIRE)--MetLife, Inc. (NYSE: MET) today announced that its board of directors has approved a new $2 billion authorization for the company to repurchase its common stock. In May 2018, MetLife announced a $1.5 billion repurchase authorization and the company has bought back approximately $1 billion of its common stock under that board authorization.

Commenting on the announcement, MetLife Chairman, President and CEO Steven A. Kandarian said:

"Excess capital belongs to our shareholders, and we are pleased to announce a new $2 billion share repurchase authorization. Taken together with the balance from our prior authorization, MetLife has current authorized buyback capacity of almost $2.5 billion.”

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.