MetLife's 10-Q Report Shows $800 Million Net Income

By Tamara Parker • Friday, May 03 10:24 • Permanent Link

MetLife, Inc. has recently released its 10-Q report, offering a detailed insight into its financial performance and operations. MetLife, a global financial services company, operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company provides a wide range of insurance, annuities, employee benefits, and asset management services, including life, dental, and disability insurance, as well as pension products and annuities.

In the recent 10-Q report, MetLife reported a net income available to common shareholders of $800 million for the three months ended March 31, 2024, compared to $14 million for the same period in 2023. The company's adjusted earnings available to common shareholders were $1.3 billion for the first quarter of 2024, a slight increase from $1.2 billion for the same period in 2023.

In terms of revenues, MetLife reported premiums of $10.1 billion for the first quarter of 2024, compared to $9.6 billion for the same period in 2023. Net investment income also saw a significant increase, reaching $5.4 billion in the first quarter of 2024, up from $4.6 billion in the first quarter of 2023.

The report also highlighted the impact of market interest rates on the company's results. MetLife stated that market interest rates are a key driver of its results, and changes in rates can impact its business and investments in various ways. The company also mentioned that it closely monitors political and economic conditions that might contribute to global market volatility and impact its business operations and investment portfolio.

Furthermore, the report discussed regulatory developments, including the U.S. Department of Labor's proposed regulation to change the definition of "fiduciary" for purposes of the Employee Retirement Income Security Act of 1974, and the U.S. Securities and Exchange Commission's focus on climate and environmental, social, and governance (ESG) risks and opportunities.

Today the company's shares have moved -0.5% to a price of $69.87. For the full picture, make sure to review MetLife's 10-Q report.

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