Metlife (MET) has released an update.
MetLife, Inc. anticipates economic uncertainty for 2024, with expectations of stable U.S. dollar levels and unchanged long-term interest rates, despite a steepening yield curve from declining short-term rates. The company’s diversified investment portfolio is prepared for various economic conditions, supported by $5.2 billion in liquid assets, exceeding the $3-4 billion target. MetLife plans to maintain a free cash flow to adjusted earnings ratio of 65-75% and targets a 13-15% adjusted return on equity. They also aim to generate $20 billion in free cash flow and invest an additional $1 billion in growth and innovation from 2020 to 2024, while reducing their full-year direct expense ratio target from 12.6% to 12.3%. The company’s outlook is subject to change based on evolving economic conditions and potential regulatory changes.
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For a comprehensive understanding of the announcement, you can read the full document here.
