Despite a slump in the U.S. housing market, MetLife Inc. is seeking to expand its bank by delving into the residential mortgage origination business with help from its well-known brand. But the endeavor may be rife with risks as making loans isn’t core to the business of the biggest U.S. life insurer, an expert said in this week’s BestWeek U.S./Canada. In a deal that closed Aug. 31, 2008, MetLife’s bank acquired all the residential mortgage origination business outside of Tennessee of First Tennessee Bank National Association.

Also, in BestWeek Europe, Swiss Re has become the first reinsurer to participate in the new Swift insurance service, which provides an automated platform for reinsurance transactions. The platform has been created by the Belgium-based Society for Worldwide Interbank Financial Telecommunication, which operates a similar service for the banking industry. It will allow the electronic exchange of reinsurance accounting and settlement transactions as part of a pilot scheme that started with messages being exchanged between Swiss Re and brokers Aon Benfield and Willis.

And BestWeek U.S./Canada looks at how the role of insurance commissioner can be a stepping stone to higher office. While the title lacks the elect-appeal of monikers like congressman, senator or governor, it can lead to bigger things. Democratic Sens. Bill Nelson of Florida and Ben Nelson of Nebraska were insurance commissioners, an appointed office in Nebraska. U.S. Rep. Earl Pomeroy, D-N.D., was an elected commissioner.

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Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.