MetLife's Exposure Estimated at $1 BLN; Needs To Raise Capital

MetLife's' pre-announcement of its third quarter results and news that it needs to raise capital amid falling stock prices sparked a rout across the insurance sector on Wednesday.

"We estimate that MetLife had $1 billion of exposure to AIG, Lehman, Washington Mutual, and Fannie/Freddie," analysts at Deutsche Bank told clients in a Wednesday research note.