Critical role in MetLife Inc.'s international growth strategy Strong distribution network and good product diversification Strong earnings from relatively low-risk products Well-capitalized on a stand-alone basis Slow recovery in the Japanese economy, which is likely to mute sales growth and earnings potential The ratings on MetLife Alico Life Insurance KK (MetLife Alico Japan) reflect its critical role in MetLife Inc.'s (MET; A-/Negative/A-2) international business strategy. They also reflect MetLife Alico Japan's strong stand-alone credit profile, supported by a strong distribution network and its wide range of product offerings; strong earnings from relatively low-risk products; and adequate capitalization relative to the risks it assumes. On the other hand, the slow recovery in Japan's economy is likely to mute MetLife Alico Japan's
