|
 |
Met Life-Assignee has new name eff. 5/1/2005
MetLife announced on April 26, 2005 it will rename the company used for qualified assignments to MetLife Tower Resources Group, Inc. ("Met Life Tower") from Tower Resources Group, Inc.. The name change is an effort to tie-in the familiarity and branding associated with the Met Life name. MetLife Tower, a wholly owned subsidiary of MetLife, is the Assignment Company for all newly issued fixed and variable structured settlement annuities. Tower Resources Group, Inc. was formed in 1999 as a non-insurance subsidiary of MetLife in the State of Delaware, the same state as the former assignee, Metropolitan Insurance and Annuity Company ("MIAC"). MetLife Tower is a special purpose company dedicated to serving as an Assignee for structured settlement annuities.
Annuitants, prospective annuitants, insurers, and their respective attorneys should know that the Guarantee of Performance by Metropolitan Life Insurance Company will back MetLife Tower. Moreover the secured creditor Qualified Assignment Release and Pledge will also be available as it has always been.
Structured settlement annuities in-force and/or issued prior to December 1, 2004 are the responsibility of Metropolitan Tower Life Insurance Company, the successor-in-interest to MIAC , which holds an A+ ("Superior") rating from A.M. Best. The Metropolitan Life Insurance Company guarantee of performance issued in conjunction with these assignments remains in place.
Contact us for more information.
|
|
|
|
|
|
|
