MetLife is making acquisitions so that the company is able to provide products and services that range beyond life insurance and annuities.
In 2008, MetLife acquired two companies that provide mortgage-related services. One of these companies--Everbank Reverse Mortgage--is involved in the reverse mortgage business.
MetLife, which technically is a bank holding company, seeks to create multiple product relationships with customers that either complement or augment their core life and annuity offerings:
"There is a natural opportunity when someone is getting a mortgage for us to offer them homeowner's insurance. We are looking for ways to seamlessly make referrals from one line of business to another. When someone is buying a home, it is a natural opportunity to discuss homeowner's and life insurance. Ultimately, our objective is to create a customer for life."
Source: Financial Planning
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