The transaction aims to lower MetLife’s portfolio risk while leaving policy administration and servicing with MetLife.
The capital elevates the company’s valuation to $1.25bn and will support national expansion, with a near-term focus on the mid-Atlantic states.
The divestment allows UnitedHealth to focus on other restructuring measures under CEO Stephen Hemsley.
The cyber policy is available through ASR 24-7, beginning in South Africa, Namibia and Mauritius.
