Record Adjusted Earnings Growth
MetLife reported adjusted earnings of $1.3 billion, or $1.96 per share, up 7% from the same period a year ago.
Strong Group Benefits Performance
The Group Benefits business reported adjusted earnings of $367 million, up 29% from the prior year period due to favorable life underwriting margins and lower mortality.
Robust Retirement and Income Solutions (RIS) Growth
RIS adjusted earnings totaled $401 million. Sales of synthetic GICs and UK longevity reinsurance were strong, with inflows associated with pension risk transfers totaling $1.8 billion.
Successful Risk Transfer Transaction
MetLife announced a significant risk transfer deal with Talcott Resolution Life Insurance Company to reinsure approximately $10 billion of U.S. retail variable annuity and rider reserves, reducing enterprise risk and securing investment management mandates for $6 billion of assets.
Capital Management and Shareholder Returns
MetLife returned around $1.8 billion to shareholders through common stock dividends and share repurchases. The Board authorized a new $3 billion share repurchase program and increased the common dividend per share by 4.1%.
Positive International Sales Momentum
Sales in Asia were up 10% on strong volume growth in Korea and China, and Latin America adjusted earnings were up 7% on a constant currency basis.