Insurance risk manager of the year: Metlife

The list of firms that have lost money on their variable annuity (VA) business reads like a who’s who of insurance-market greats. Some of the biggest names in the business have recorded hundreds of millions – if not billions – of dollars in losses in recent years after underestimating the risks posed by these products.

One firm is trying to buck the trend – Metlife. While its competitors have racked up painful losses over the past few years, the New York-based insurance firm has weathered the