The SEC is investigating MetLife Inc. over the calculation of certain reserves
The insurer also revised its full-year 2017 net income figures. The revision related to a release of reinsurance reserves for Japanese variable annuities following an internal review of reserving practices for this block of business reported in the MetLife Holdings segment.
Unrelated to reserving issues, Secretary of the Commonwealth of Massachusetts William Galvin said his office discovered hundreds of retirees owed pension payments by MetLife.
For the first time in 13 quarters, commercial property and casualty insurance rates inched upward
Athene Holding Ltd. is one of several companies that have made binding bids
Karen White, a senior executive at Oracle, was named CEO of catastrophe modeling company RMS, according to Artemis. She replaces Hemant Shah, who co-founded the company in 1989.
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Featured news
AbbVie, Biogen shelve MS drug; Trump threatens litigation for opioid drugmakers: AbbVie Inc. and Biogen Inc. are voluntarily withdrawing Zinbryta, or daclizumab, intended to treat relapsing multiple sclerosis. The withdrawal comes after reports of encephalitis, a swelling of the brain, and meningoencephalitis, inflammation of brain tissue and spinal cord, were associated with the drug.
Financial news in other parts of the world
Asia-Pacific: Indian state banks to consolidate overseas ops; CBA unit float moves forward
Europe: LSE posts profit rise; offers made for Generali assets; Pru names new risk chief
Middle East & Africa: Barclays Africa rebrands; Fitch lowers Bahrain; BNY Mellon eyes Riyadh office
Latin America: Mexico lower house passes fintech law; Grupo Security Q4'17 profit up 38.9%
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng declined 1.48% to 30,583.45, and the Nikkei 225 fell 2.50% to 21,181.64.
In Europe, around midday, the FTSE 100 was down 0.93% to 7,108.93, and the Euronext 100 was down 1.36% to 1,004.59.
On the macro front
The consumer sentiment report and the Baker-Hughes Rig Count report are due out today.
