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| Through product innovation, best-in-class offerings, and a proven commitment to customer service, Auto & Home achieved record operating earnings available to common shareholders (as defined in Financial Highlights) of $414 million in 2006, a 78% increase over 2005. This marks a strong, four-year compound annual earnings growth rate of 16%. In addition to being the largest provider of employer-sponsored group auto and home products, MetLife continues to achieve strong results due to its diverse distribution capabilities as well as a disciplined approach to business fundamentals and expense management. |
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| Auto & Home also solidified its leadership position as an innovator in 2006 as it became the first national insurer to add Identity Theft resolution services at no additional premium on its automobile policies. This builds upon the company’s decision in 2005 to be the first insurer to include the service in its standard homeowners, renters and condo policies. Auto & Home also continued to generate significant momentum with the expansion of its package policy, GrandProtect, which provides customers with a convenient way to insure multiple vehicles, residences, boats and excess personal liability. By year end 2006, GrandProtect was offered in 33 states and accounted for almost 7% of new product sales in those states—a percentage that is expected to reach 10% in 2007. |
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| During 2006, Auto & Home introduced METRIX—a sophisticated new pricing
program that enables the company to generate greater momentum by broadening its market niches, opening new sales opportunities, while also enhancing agents’ retention ratio for existing customers. In states where it has been introduced, METRIX has increased sales by more than 40% on average. METRIX is currently only available for Auto & Home’s auto policies, but will be added to its homeowners policies in the upcoming year. |
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| "The combination of product and pricing innovation makes MetLife Auto & Home the number one personal lines provider that my agency does business with. Because of our location next to the mountains and Lake Winnipesaukee, New Hampshire, I have many upper middle class and high income customers with multiple products, such as rental cottages, RVs, boats, motorcycles and snowmobiles. The ease and convenience of a product like GrandProtect—with one premium, one deductible, one carrier—fills a niche that few other insurance carriers can match. GrandProtect is a perfect fit for our agency, and METRIX is allowing us to offer these products to a broader spectrum of customers. That, coupled with the tremendous MetLife brand recognition, makes for a combination that’s hard to beat." |
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| –Thomas O'Dowd
independent agent,
principal of J. Clifton Avery, Inc. |
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