...`Most Favorable' Business Profile: MetLife, Inc. maintains leading competitive positions in several major insurance product lines, markets in the U.S. and selected international markets. Fitch Ratings believes the company's considerable operating scale, strong brand name and very strong investment capabilities provide significant competitive advantages. Reduced Market Sensitivity: MetLife has reduced the risks in its balance sheet in recent years, including through its reinsurance cession of approximately $19 billion of statutory reserves, comprising U.S. retail universal life, variable universal life, universal life with secondary guarantees and fixed annuities, to Global Atlantic Financial Group in November 2023. The decline in risk is partially offset by a reduction in earnings diversification, although MetLife remains well diversified by product and market. Very Strong Balance-Sheet Fundamentals: MetLife has excellent financial flexibility, very strong statutory capitalization and good...