Bloomberg Law
Oct. 21, 2021, 7:48 PM

MetLife Joins Insurers Warning Chile Over Early Annuity Payments

Max Reyes
Max Reyes
Bloomberg News

MetLife Inc. began formal consultations with Chile over proposed legislation that would allow people to demand early annuity payments, a step that could ultimately lead to litigation.

The largest U.S. life insurer told its Chilean regulator Thursday that losses stemming from pension withdrawal legislation combined with the threat posed by further legislation had prompted it to begin a consultation process with the nation that is mandated under international trade agreements.

“We hoped to avoid this action and regret having to take it,” MetLife said in a statement. “However, given the damages caused by recent legislation and the potential of additional ...

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