After 31 years as the face of MetLife, iconic 'Peanuts' character Snoopy has been dropped by the insurance giant as part of a revamping of MetLife operations. WSJ's Lee Hawkins explains.

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“Snoopy never really went anywhere. He’s still a Macy’s Thanksgiving Day Parade balloon, still found in every toy store, still (after a break) a mascot for MetLife.” But as for his newly ...