Good Grief: MetLife Will Be 'Navigating Life' Without Snoopy, Peanuts Characters
Snoopy began appearing in MetLife ads in 1985. Scene from a 1994 commercial.

Charlie Brown may need to try out for an NFL team in need of a placekicker (as long as Lucy isn't holding) and Schroeder may need to find a few more gigs, as the Peanuts characters have been kicked to the curb.

After a more than 30-year partnership MetLife Inc. (MET) , one of the largest life insurance companies in the world, is parting ways with Snoopy and other Peanuts characters to build itself a new identity.

The New York-based company will adopt a new tagline "MetLife. Navigating life together." and gradually phase out the use of Snoopy and the Peanuts Gang, which used to appear everywhere on its marketing and sales materials.

The insurer first adopted the use of Snoopy, created by cartoonist Charles Schulz, to connect with U.S. consumers.

"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. Snoopy helped drive our business and served an important role at the time," said Esther Lee, global chief marketing officer of MetLife.

After 2016, MetLife will no longer renew the reported multiyear contract to use Snoopy and other Peanuts' characters. Instead it will focus on a more modern and clean aesthetic in its visual branding. According to the Wall Street Journal, the most-recent contract was signed in 2014 and costs MetLife between $10 million to $15 million a year.

Earlier this year, the 148-year-old company decided to spin off the bulk of its U.S. life-insurance business starting next year and switch its focus to corporate clients and group benefits, like dental and disability coverage.

"To adapt to our changing world, we are re-thinking how we do business. We are moving away from a traditional product-development model to one driven by customer insights," said Steven A. Kandarian, chairman, president and chief executive officer of MetLife, Inc. in a statement released early this morning. "Our new brand reflects our company's transformation and differentiates us in the marketplace, ultimately driving greater value for our customers and shareholders."

As of Thursday, MetLife's redesigned look is live across mobile, social and web properties. Print ads will roll out starting Friday.

More from Stocks

This Market is Treacherous: Cramer's 'Mad Money' Recap (Thursday 12/11/18)

This Market is Treacherous: Cramer's 'Mad Money' Recap (Thursday 12/11/18)

Real Money Video Wrap: Volatility Reigns

Real Money Video Wrap: Volatility Reigns

Nvidia Shares Fall as SoftBank Reportedly Plans to Sell Its Stake

Nvidia Shares Fall as SoftBank Reportedly Plans to Sell Its Stake

Chart of the Day: McDonald's Management Maneuvers Amid Taxes, Tariffs

Chart of the Day: McDonald's Management Maneuvers Amid Taxes, Tariffs

Stocks End Mixed as China Trade Progress Offsets D.C. Dysfunction

Stocks End Mixed as China Trade Progress Offsets D.C. Dysfunction