MetLife Inc , one of the largest U.S. life insurers, on Monday said it will not take money from the government's $700 billion Troubled Asset Relief Program, saying it already has sufficient capital.

The company also confirmed that because it has more than $100 billion of assets and is organized as a bank holding company, it is one of the 19 U.S. companies participating in a government stress test of its ability to weather a steep economic downturn.

Chief Executive Robert Henrikson in a statement said MetLife has about $5 billion of excess capital, and that revenue is healthy in its core group and individual insurance businesses. MetLife also bolstered capital last October with a $2.3 billion stock sale.

Many companies that got TARP money have complained about the program, including the government's unilateral ability to impose new restrictions on aid recipients, including over executive pay.

Goldman Sachs Group Inc said that if its regulators allow, it plans to repay its $10 billion of TARP money, including with proceeds from a $5 billion common stock sale.

MetLife shares edged down 39 cents to $28.40 in after-hours trading following the announcement. They had risen $1.77, or 6.6 percent, to $28.79 in regular trading.

(Reporting by Jonathan Stempel; Editing by Gary Hill)