No, they're saying that they adding cash to their reserves against future expected liabilities to policy-holders. "Reserve strengthening" is about as dizzy as spin gets.
Reuters just issued a correction. Not 600,000 people,.... but 5% of 600,000 people. Unbelievable. Whats a little mistake like 570,000 annuity accounts between friends in the after-hours home-game. Buy buy buy! MetLife, in a statement, said the SEC’s enforcement staff has inquired about payments that the insurer failed to make for people who receive a type of annuity benefit from the company via its retirement business. Less than 5 percent of 600,000 people are affected, the company has said. https://www.reuters.com/article/met...es-failure-to-pay-some-pensions-idUSL2N1PO1YB
MetLife, Brighthouse sued for $500 million over missing pensioners MetLife Inc. and Brighthouse Financial Inc. have been sued for failing to pay at least $500 million in retirement benefits over the past two and a half decades to thousands of pension plan participants. (Investment News)