(Bloomberg) -- MetLife Inc., the largest U.S. life insurer, will phase out the use of Snoopy and Peanuts characters in its marketing.
The insurer announced a new tagline, “MetLife. Navigating life together,” in what the New York-based company called the most significant change to its brand in three decades. The company plans to roll out its new logo, featuring and green and blue letter M, through next year.
Chief Executive Officer Steve Kandarian has been rethinking the company’s business model, and will increasingly focus on group benefits, like dental and disability coverage. He announced a plan this month to spin off the U.S. retail business, which was recently given the Brighthouse Financial name.
“We brought in Snoopy over 30 years ago to make our company more friendly and approachable during a time when insurance companies were seen as cold and distant,” Chief Marketing Officer Esther Lee said in a statement Thursday. “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.”
Iconix Brand Group Inc., which in 2010 acquired a majority stake in the Peanuts characters, named MetLife first in a list of key Snoopy partners in its most recent annual report.