Metlife completes sale of auto & home business to Zurich Insurance Group Subsidiary Farmers Group, Inc.

MetLife, Inc. announced the completion of its sale of Metropolitan Property and Casualty Insurance Company and certain wholly-owned subsidiaries to Farmers Group, Inc., a subsidiary of Zurich Insurance Group, for a purchase price of $3.94 billion in cash.

In addition, MetLife and Farmers Exchanges have established a 10-year strategic partnership through which Farmers Insurance^® (Farmers) will offer personal lines products on MetLife’s industry-leading U.S. Group Benefits platform, which reaches 3,800 employers and approximately 37 million eligible employees. Farmers assumes responsibility for MetLife’s previous retail property and casualty customers.

“We look forward to continuing to deliver a broad range of benefits that meet the needs of our group customers, maintaining strong relationships with our distribution partners, and ensuring employees across the U.S. have access to auto and home coverage through our relationship with Farmers,” said Ramy Tadros, president, U.S. Business, MetLife.