These MetLife Auto & Home Managers and Sups need pink slips. None of them know what they are doing, none of them seek advanced designations and they barely know anything about actual p&c insurance. ML could be great under Farmers but these people untrained leadership should not be kept around to destroy this amazing opportunity! JS
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No layoffs are anticipated for PC folks as Farmers will convert its rating platform to Guidewire platform.
Guide wire technology implementation, led by Ditillo and Dixit was a complete disaster.
Well "4/8 is the 1st day of Farmers control" was right.
That qualifies for a Center Stage nomination.
Goodbye to the Met Home & Auto folks.
50 quid says someone blew the closing.
March 31 would have been a good date for closing, since it ends the quarter cleanly.
Also, we still have some non-US P&C. Did Met want out of P&C in general (but Farmers wouldn't buy it all), or was their some specific reason that Met wanted out of only US P&C?
There has been no communication whatsoever that declares 4/8 is the closing day for Farmers. Based on recent communications, it seems (operative word) this week could be the week (4/5-4/9) COULD be the week a closing happens. It has also been suggested that it could be as late as 4/15.
Nothing will be known until all the papers are signed and announcements are made.
4/8 is 1st day of Farmers control.
Should close in the next few weeks
When is the deal supposed to close?
I dont wish on anyone to lose their job. Not to say I dont disagree with OP that there was a disconnect present between mgmt and the front lines. Or that there was a huge failure in the integration of Guidewire/Met360 that continues to far beyond its projected install date.
But that said I think many will find once Farmers takes the wheel they will realize how good they had it under MetLife's leadership, compensation and benefits. There is going to be a huge dose of corporate culture shock for many going from an East coast driven company to West coast philosophies. Not saying one is better than the other moreso that just that if you plan to hang around to be prepared to adapt and listen.
That said there are going to be many overlapping or unnecessary positions that will be casualties of this merger in which no amount of adaptation can save. Many of those will be in the management layers though most of the old guard already has a golden parachute with MetLife so the exit door is going to be spinning hard in the next few days. Just watch.