MetLife Inc. (MET Quick QuoteMET - Free Report) seems bothered by a host of factors ranging from regulatory to macroeconomic to industry specific issues. While regulatory hurdles were raised by the appeal of the U.S. District Court decision which rescinded its designation as a systemically important financial institution (SIFI), its macroeconomic factors relate to foreign currency, equity markets and interest rates. Industry-specific headwinds such as cat loss and lower business from Japan have also dampened the company’s earnings.

The company got a brief breather after a U.S. District Court decision relieved it of its SIFI status in April. The company, which got the SIFI status in Sep 2014, was contesting this designation since Jan 2015. The SIFI designation cast a special supervision on the company by the Federal Reserve thus stifling its independence in the use of capital, which will also hamper its operational and financial flexibility.

This lifting of the SIFI tag, however, provided only temporary relief since the The Financial Stability Oversight Council FOSC appealed to overturn the U.S. District Court decision in June. The FSOC can now attempt to re-designate MetLife at a later date. Prudential Financial Inc. (PRU Quick QuotePRU - Free Report) and American International Group Inc. (AIG Quick QuoteAIG - Free Report) are still carrying the SIFI tag.

MetLife is also bearing the brunt of a low interest rate environment as evident from a decline in its investment income. Also, its variable investment income is suffering due to the poor performance by hedge funds.

Exposure to catastrophe, which causes loss intermittently, is an added woe. Its property and casualty segment experienced earnings volatility in the past due to weather-related losses and the same is expected to continue in the future.

MetLife’s business in Japan has been hampered by the withdrawal of single premium and Accident & Health Yen products in 2015. This was done to tackle the low interest rate headwind faced by the company in Japan. Also, the deconsolidation of its India operations will restrict the company’s earnings from the Asia region.

Coming to company-specific headwinds, MetLife is suffering from higher frequency and severity of claims in its Retail Life and Property & Casualty segments as well as in its auto insurance business.

While MetLife with a Zacks Rank # 4 (Sell) remains mired in its problems, there are other stocks in the same space that are worth investing in.  Here, we have picked three stocks using our style score system. Not only do these stocks have a solid Value score of ‘ A’ or B’, they also have a favorable Zacks Rank #1 (Strong Buy) or #2 (Buy).

Argo Group International Holdings, Ltd. underwrites specialty insurance and reinsurance products in the property and casualty market worldwide.

This Zacks Rank #2 stock with a Value score of ‘B’ has seen its current year earnings per share (EPS) estimate move 8.4% higher over the past 60 days. Its long-term EPS growth rate is 7%.

National Interstate Corporation (NATL Quick QuoteNATL - Free Report) operates as a specialty property and casualty insurance company primarily in the United States. It underwrites and sells traditional and alternative property and casualty insurance products primarily to the passenger transportation, trucking and moving, and storage industries; general commercial insurance to small businesses in Hawaii and Alaska; and personal insurance to owners of recreational vehicles.

This stock with a Value score of ‘A’ has seen its current year EPS estimate move 7.6% higher over the past 60 days. Its long-term EPS growth rate is 10%. Currently, the stock sports a Zacks Rank #1.You can see the complete list of today’s Zacks #1 Rank stocks here.

First American Financial Corporation (FAF Quick QuoteFAF - Free Report) operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, and offers related products and services. The Specialty Insurance segment provides property and casualty insurance.

This Zacks Rank #2 stock with a VGM score of ‘A’ has seen its current year EPS estimate move 5.3% higher over the past 60 days. Its long-term EPS growth rate is 9.25%.