OTHER NEWS - Nov. 9, 1991

Met Life to Cut Dividend to Policyholders: Metropolitan Life Insurance Co. will cut its dividend to policyholders by 8% in 1992, the first time the nation’s second-largest insurer has reduced its payout in more than 40 years, a spokesman said. The overall payout will fall to $1.22 billion from a projected $1.32 billion, the spokesman said. Last year, Met Life paid $1.27 billion in dividends. The cut is blamed on lower interest rates and an $8-billion federal tax increase for the mutual life insurance industry.