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MetLife Inc Kicks Snoopy to Curb After 31 Years

By Karl Utermohlen, InvestorPlace Writer

http://bit.ly/2eLDkUZ

MetLife Inc (NYSE:MET) will no longer be using everyone’s favorite cartoon character in its ads.

MetLifeThe insurance provider is ridding itself of Snoopy and other Peanut characters after promoting its services for 31 years with the cartoon dog. MetLife is replacing him with a new logo that is cleaner and more modern in the form of an M in blue and green colors.

The company has always used blue prominently in its logos, and the green is supposed to represent vitality and renewal. MetLife said it was grateful to Charles Schulz and the team behind Snoopy because adopting him as the company’s mascot was a very popular move.

Insurance companies were seen as cold and distant at the time, and Snoopy helped to add a sense of comfort to the industry. The company is also eliminating the use of blimps to promote its insurance going forward.

“As we focus on our future, it’s important that we associate our brand directly with the work we do and the partnership we have with our customers,” the company wrote.

MetLife recently announced plans to spin off its life insurance business into a separate company called Brighthouse Financial. The company will comprise of more than 2.6 million insurance policies and annuity contracts, as well as $240 billion in total assets.

It is unclear whether or not Brighthouse Financial will come to life with an initial public offering.

MET shares dipped 0.4% Thursday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/10/metlife-snoopy-met/.

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