(Bloomberg) -- MetLife Inc., the largest U.S. life insurer, can counter low interest rates by cutting expenses and expanding in other nations, Chief Executive Officer Steven Kandarian said.

The insurer has also been raising prices for some retirement products, and benefits from hedges against low interest rates. Kandarian is seeking to exit banking to limit oversight from the Federal Reserve, which rejected his plan to repurchase shares. A deal to sell deposits to General Electric Co. won approval yesterday from the Office of the Comptroller of the Currency.

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