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| Information Source: MetLife, Inc |
| MetLife, Inc. (NYSE: MET) today announced its second quarter 2025 results. |
- Net income was $698 million.
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- Adjusted earnings declined to $1.4 billion, due to less favourable underwriting and lower investment margins, partially offset by volume growth and favourable expense margins.
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- Premiums, fees and other revenues (PFOs) were $12.7 billion.
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- Adjusted PFOs excluding pension risk transfers (PRT) rose 5% to $12.4 billion, due to growth in all segments except MetLife Holdings.
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- Net investment income rose 9% to $5.7 billion.
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- Variable investment income fell to $195 million, primarily driven by lower private equity returns.
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- Book value per share (BVPS) rose 7% to $35.79. Adjusted BVPS up 6% to $56.23.
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- Returned approximately $900 million to shareholders via share repurchases and common stock dividends.
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- Holding company cash and liquid assets totalled $5.2 billion at quarter end.
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- Group Benefits adjusted PFOs rose 4%, driven by growth in core and voluntary products.
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- Retirement and Income Solutions' total liability exposures grew 6%, including 5% in general account liabilities.
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- Asia sales increased 9% on a constant currency basis, driven by Japan and Korea.
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- Latin America adjusted earnings rose 3% and 15% on a constant currency basis.
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- EMEA adjusted earnings rose 30%, reflecting strong volume growth across the region.
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- Institutional client assets under management grew to more than $200 billion at MetLife Investment Management.
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| Comment from Michel Khalaf, President and Chief Executive Officer: |
| This quarter, we continued to execute our New Frontier strategy to create value for our customers and shareholders. While the quarter didn’t demonstrate the full earnings power of MetLife, we saw clear momentum across several of our market-leading businesses, coupled with solid underlying fundamentals. |
| Higher sales drove revenue growth in Asia, Latin America and EMEA as we leveraged our leading positions in international markets. |
| We continued to progress on our previously announced strategic transactions with Chariot Re, Talcott Financial Group and PineBridge Investments to accelerate our growth in asset management and capitalise on our retirement platform. |
| And we diligently managed expenses while returning capital to shareholders. |
| Looking ahead, we’re confident in the resiliency and all-weather nature of our New Frontier strategy and our ability to deliver on our commitments. |
| Total Company Discussion |
| MetLife reported second quarter 2025 premiums, fees and other revenues of $12.7 billion, down 6 per cent. Adjusted premiums, fees and other revenues, excluding pension risk transfers, were $12.4 billion, up 5 per cent. |
| Net investment income was $5.7 billion, up 9 per cent, primarily due to increases in the estimated fair value of certain securities that do not qualify as separate accounts under GAAP. Adjusted net investment income was $5.2 billion, up 1 per cent, primarily due to asset growth. |
| Net investment losses were $273 million, or $216 million after tax, reflecting normal trading activity and a stable credit market. Net derivative losses amounted to $796 million, or $629 million after tax, driven by stronger equity markets and higher long-term interest rates. |
| Net income decreased 23 per cent to $698 million. Higher net derivative losses and lower adjusted earnings were the primary drivers. On a per-share basis, net income decreased 20 per cent to $1.03. |
| Adjusted earnings were $1.4 billion, down 16 per cent on a reported basis and down 15 per cent on a constant currency basis. On a per-share basis, adjusted earnings were $2.02, down 11 per cent. |
| For the full document, click the link below |
| MetLife, Inc |
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