Conn. Gov. Meets with MetLife over Travelers Jobs

March 7, 2005

Connecticut Governor M. Jodi Rell met today with Robert Benmosche, chairman and chief executive officer of MetLife Inc., to discuss the company’s recent acquisition of Travelers Life & Annuity and its potential effect on Connecticut.

“I’m very pleased with the meeting today with Mr. Benmosche and the chance to tell him how important these employees are to our state and our economy,” Rell said. “It is critical that the skills and experience of these employees be retained. Travelers has been a key employer in the state for years and – as I told Mr. Benmosche – I want that relationship to continue under the stewardship of MetLife.”

Rell asked for the meeting after MetLife announced Jan. 31 it was buying Travelers from Citigroup for $11.5 billion. The deal makes MetLife the largest individual life insurer in North America.

“Since becoming governor I have made retaining and creating jobs a top priority, and I am deeply committed to strengthening our business climate wherever possible,” Rell said. “I wanted to tell Mr. Benmosche directly about Connecticut’s many strengths and hear from him where we might work together to grow opportunities in this state.

MetLife has told employees that their skills and experience were key factors in making Travelers such an attractive opportunity for acquisition.

“I’m hopeful that the net effect of this change will be minimal and that we will be able to work with MetLife to find ways to grow. I will continue to work and fight to keep these jobs in Connecticut, and if it means meeting with someone every day I’ll do it,” Rell said.

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