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Daily Insurance Industry News
Wednesday 26th of September 2018
February 28, 2012

MetLife launches “next generation” retirement products

by Gill Montia

Story link: MetLife launches “next generation” retirement products

MetLife says it is launching the next generation of guaranteed retirement income and investment products, in response to consumer and IFA needs and current investment markets.

The firm is adding new managed wealth portfolios to its existing range, promising annual unlimited lock-ins of potential gains for capital guarantees and a deferred annual income of 4% on its Retirement Portfolio and Income for Life Bond.

The new portfolios, which are run by asset manager, BlackRock, have been developed in response to ongoing market turbulence and long-term low interest rates.

BlackRock will manage three portfolios, which offer maximum equity exposures of 50%, 60% and 70%, varying the funds’ exposure depending on market conditions.

MetLife managing director, Dominic Grinstead, comments: “Advisers and clients have told us they need more reassurance on financial planning in an uncertain world and we needed to respond.

“We identified a clear demand for innovation in response to current investment conditions as clients need stable and more consistent returns with less risk.”

BlackRock head of sales strategy, EMEA, Mark Elliott, adds: “We are confident that the innovation in asset allocation and day-to-day management will prove very valuable for retirement savers in all investment conditions.”

MetLife has seen rapid growth in recent months, taking only nine months to double its assets under management to £2 billion by September 2011.

 

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