MetLife 2010 Annual Report Download - page 86

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
None.
Management’s Annual Report on Internal Control Over Financial Reporting
Management of MetLife, Inc. and subsidiaries is responsible for establishing and maintaining adequate internal control over financial
reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related
costs of control procedures. The objectives of internal control include providing management with reasonable, but not absolute, assurance
that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with
management’s authorization and recorded properly to permit the preparation of consolidated financialstatementsinconformitywith
accounting principles generally accepted in the United States of America (“GAAP”).
Management has documented and evaluated the effectiveness of the internal control of the Company at December 31, 2010 pertaining to
financial reporting in accordance with the criteria established in Internal Control — Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission.
On November 1, 2010, the Holding Company acquired all of the issued and outstanding capital stock of American Life Insurance Company
and Delaware American Life Insurance Company (collectively, “ALICO”). As allowed under the U.S. Securities and Exchange Commission (the
“SEC”) guidance, management’s assessment of and conclusion regarding the design and effectiveness of internal control over financial
reporting excluded the internal control over financial reporting of ALICO, which is relevant to the Company’s 2010 consolidated financial
statements as of and for the year ended December 31, 2010. ALICO represents 17% of total assets, and 2% of total revenues of MetLife, Inc.
as of and for the year ended December 31, 2010. The financial reporting systems of ALICO have not yet been integrated into the Company’s
financial reporting systems and, as such, the Company did not have the practical ability to perform an assessment of ALICO’s internal control
over financial reporting in time for this current year-end. Management expects to complete the process of integrating ALICO’s internal control
over financial reporting over the course of 2011. The ALICO acquisition represents a material change in internal control over financial reporting
as defined in Exchange Act Rule 13a-15(f) during the quarter ended December 31, 2010.
In the opinion of management, MetLife, Inc. maintained effective internal control over financial reporting at December 31, 2010.
Deloitte & Touche LLP, an independent registered public accounting firm, has audited the consolidated financial statements included in
the Annual Report on Form 10-K for the year ended December 31, 2010. The Report of the Independent Registered Public Accounting Firm on
their audit of the consolidated financial statements is included at page F-1.
Attestation Report of the Company’s Registered Public Accounting Firm
The Company’s independent registered public accounting firm, Deloitte & Touche LLP, has issued their attestation report on manage-
ment’s internal control over financial reporting which is set forth below.
83MetLife, Inc.