27th February 2012

Metlife launches next generation of guarantees

METLIFE LAUNCHES NEXT GENERATION OF GUARANTEES

• New Managed Wealth Portfolios provide increased investment protection
• Investors can lock-in annual gains and deferred income rates rise to 4%
  BlackRock partnership underlines commitment to innovation

MetLife is launching the next generation of guaranteed retirement income and investment
products offering clients and advisers increased certainty and stability in response to
consumer and IFA needs and current investment markets.

MetLife has added new Managed Wealth Portfolios - designed to help savers better manage market fluctuations yet still have the potential to achieve growth - to its existing product range which includes the market-leading Retirement Portfolio, Guaranteed Investment Bond and Income for Life Bond.

The launch enables MetLife to enhance its award-winning guarantees by providing annual unlimited lock-ins of potential gains for capital guarantees and by increasing annual deferred income increases to 4% on Retirement Portfolio and Income for Life Bond. The new range is available for applications from 13th February 2012.

The Portfolios, which are run by world-leading asset manager BlackRock, have been
developed over nine months following extensive client and adviser research which identified the need for innovative solutions to ongoing market turbulence and low long-term interest rates.

BlackRock will manage the three Portfolios - which offer maximum equity exposures of 50%, 60% and 70% - varying the funds' exposure depending on market conditions.
Dominic Grinstead, Managing Director, MetLife UK said: "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. Guarantees and the enhanced funds proposition are designed to achieve that.

"The launch of our enhanced funds proposition provides increased investment protection
underlining our commitment to innovation and to delivering increased certainty for advisers and clients."

Mark Elliott, Head of Sales Strategy, EMEA International Retail at BlackRock said: "We have worked closely with MetLife to understand their clients' requirements in the design of the new portfolios. 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."

The three Managed Wealth Portfolios include the Min which offers maximum 50% exposure to equities; Mid which offers maximum 60% exposure to equities; and Max which offers a maximum 70% exposure to equities. Minimum guarantee terms start from 10 years.

The funds exposure to equities is changed depending on market conditions with the Min
Portfolio likely to have the lowest swings in value over time compared with other portfolios.

Guarantee charges on the enhanced product start from 0.4% and product charges from
0.35%. Existing investments are unaffected and the MetLife product range continues to offer capital, income and death benefit guarantees.

MetLife saw rapid growth last year taking just nine months to double its assets under
management to £2 billion by September 2011 from £1 billion at the end of November 2010.

Retirement, Investments