On paper, life insurer MetLife had a strong 2017. Its net income rose to $3.6 billion compared with $627 million the previous year. But that number came with some serious caveats—including a kerfuffle over missing pension payments that may have affected tens of thousands of retirees and led the company to increase its reserves. CEO Steven A. Kandarian called the shortcomings “unacceptable and deeply disappointing” earlier this year, and said MetLife “can and will do better.” MetLife also completed a major spinoff of its Brighthouse unit last year, aiming to simplify its offerings.
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