MET
MetLife, Inc.
Is MET Halal?
Major global life insurance and financial services company — conventional insurance with interest-based investment portfolio.
What You Should Know
MetLife is one of the largest global life insurance and financial services companies, providing life insurance, annuities, group benefits, dental and disability insurance, and retirement and asset management products in the US, Asia, Latin America, and EMEA. As with all conventional insurers, MetLife's business model combines underwriting risk transfer (which most classical scholars view as containing impermissible gharar — excessive uncertainty) with investment of premium float in fixed-income securities for interest income. Its annuity products are structured around guaranteed crediting rates that are interest-based by construction. There is no takaful (mutual risk-sharing) sleeve. The company fails the qualitative business activity screen at every major Sharia advisory board and at every major Islamic index.
⚠️ Concerns
- •Core business is conventional life insurance and annuities (gharar)
- •Hundreds of billions of dollars of premium float invested in interest-bearing bonds (riba)
- •Annuity crediting rates are interest-based by construction
- •No takaful sleeve to carve out
- •Fails business activity screen at every major Sharia board
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