Financial Performance - Total revenues for Q1 2025 were $18,569 million, a slight decrease from $18,666 million in Q4 2024[5] - Net income attributable to MetLife, Inc. for Q1 2025 was $945 million, compared to $1,271 million in Q4 2024, reflecting a decrease of 25.6%[5] - Premiums, fees, and other revenues for Q1 2025 totaled $13,639 million, down from $14,475 million in Q4 2024[5] - Policyholder benefits and claims for Q1 2025 were $11,806 million, compared to $12,572 million in Q4 2024, indicating a decrease of 6.1%[5] - The company reported net investment income of $4,885 million for Q1 2025, down from $5,405 million in Q4 2024[5] - Total expenses for Q1 2025 were $17,215 million, a decrease from $17,285 million in Q4 2024[5] - The provision for income tax expense for Q1 2025 was $404 million, compared to $106 million in Q4 2024, showing an increase of 280.2%[5] - The adjusted earnings available to common shareholders for Q1 2025 were $879 million, compared to $1,239 million in Q4 2024, reflecting a decrease of 29.1%[5] - The company experienced net derivative losses of $432 million in Q1 2025, a significant recovery from losses of $903 million in Q4 2024[5] Year-to-Date Performance - Total revenues for the year-to-date period ended March 31, 2025, were $18,569 million, an increase from $16,057 million for the same period in 2024, representing a growth of 15.7%[13] - Adjusted net investment income for the year-to-date period ended March 31, 2025, was $5,213 million, compared to $5,068 million for the same period in 2024, reflecting an increase of 2.9%[13] - Adjusted premiums, fees, and other revenues for the year-to-date period ended March 31, 2025, were $13,614 million, up from $11,948 million for the same period in 2024, indicating a growth of 13.9%[14] - Total adjusted revenues for the year-to-date period ended March 31, 2025, reached $18,827 million, compared to $17,016 million for the same period in 2024, marking an increase of 10.6%[13] - Total expenses for the year-to-date period ended March 31, 2025, were $17,215 million, an increase from $15,012 million for the same period in 2024, representing a growth of 14.7%[14] - Total adjusted expenses for the year-to-date period ended March 31, 2025, were $16,985 million, compared to $15,185 million for the same period in 2024, reflecting an increase of 11.8%[14] Shareholder Metrics - Adjusted earnings available to common shareholders for Q1 2025 were $1,349 million, a decrease from $1,375 million in Q3 2024[18] - Group Benefits adjusted earnings available to common shareholders for Q1 2025 were $367 million, down from $416 million in Q4 2024[18] - The total equity of MetLife as of March 31, 2025, was $27,755 million, a slight increase from $27,703 million in Q4 2024[17] - The retained earnings increased to $43,131 million as of March 31, 2025, from $42,626 million in Q4 2024[17] Investment Performance - The company reported net investment losses of $375 million in Q1 2024, with net derivative losses of $979 million[6] - The yield on equity securities increased to 6.16% for the year-to-date period ended March 31, 2025, up from 5.48% in the previous year[51] - The ending carrying value of fixed maturity securities was $290,416 million as of March 31, 2025, compared to $279,855 million a year earlier[51] - The company reported investment portfolio gains (losses) of $(461) million for the year-to-date period ended March 31, 2025[51] Future Outlook - The company anticipates continued improvements in expense ratios and revenue growth as part of its future outlook[16] - Future guidance indicates adjusted earnings available to common shareholders, excluding notable items, is expected to remain stable around $1,349 million for Q1 2025[6] - The company plans to continue its strategy of share repurchases, with 16.9 million shares repurchased in Q1 2024[9] Operational Insights - MetLife continues to focus on enhancing its non-GAAP financial measures to provide better insights into its operational performance[4] - The company emphasizes the importance of non-GAAP financial measures to provide a clearer picture of operational performance and profitability drivers[1] - Adjusted earnings exclude the impact of market volatility and focus on core business performance, allowing for better comparisons to industry results[1]

Core Viewpoint - MetLife, Inc. is expected to report first-quarter 2025 results on April 30, with earnings estimated at $1.99 per share and revenues at $18.21 billion, reflecting year-over-year growth of 8.7% and 7% respectively [1] Financial Estimates - The Zacks Consensus Estimate for MetLife's revenues for the current year is $74.94 billion, indicating a year-over-year increase of 2.6% [2] - The consensus estimate for current-year EPS is $9.11, suggesting a year-over-year jump of approximately 12.33% [2] - In the last four quarters, MetLife beat the consensus estimate once, met it once, and missed twice, with an average surprise of negative 1.5% [2] Earnings Prediction - The current model does not predict a definitive earnings beat for MetLife, as it has an Earnings ESP of +0.24% but a Zacks Rank of 4 (Sell) [3][4] Factors Influencing Q1 Results - Rising adjusted group benefits revenues are anticipated to positively impact MetLife's first-quarter results, particularly from improved operations in international markets, especially Asia and Latin America [5] - The Zacks Consensus Estimate for total adjusted group benefits suggests a 2.3% increase from the prior-year quarter, driven by profits from Asia and Latin America [6] - Adjusted earnings from the domestic business are expected to grow by 10.5% year-over-year in the first quarter [7] Challenges - Rising costs and expenses may partially offset profit growth in the upcoming quarter, with net investment income consensus pegged at $5.3 billion, indicating a 3% decline year-over-year [9]

Core Insights - MetLife (MET) is expected to report quarterly earnings of $1.99 per share, reflecting an 8.7% increase year-over-year, with revenues projected at $18.21 billion, a 7% increase from the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised down by 2.7% in the last 30 days, indicating a reassessment by analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue Estimates - Analysts project 'Revenue- Premiums' to reach $10.97 billion, indicating a year-over-year increase of 9.1% [5]. - 'Revenue- Other Revenues' is expected to be $631.98 million, reflecting a decline of 6.2% year-over-year [5]. - 'Revenue- Universal life and investment-type product policy fees' is forecasted at $1.27 billion, showing a 1.7% increase from the prior year [5]. Investment Income and Regional Revenue - 'Revenue- Net investment income' is estimated at $5.27 billion, suggesting a decrease of 3.1% year-over-year [6]. - 'Total Adjusted Revenue- Latin America' is projected to be $1.95 billion, indicating a 3.4% increase year-over-year [6]. - 'Total Adjusted Revenue- U.S. Business' is expected to reach $10.64 billion, reflecting an 11.5% increase year-over-year [7]. Regional Adjusted Revenue - 'Total Adjusted Revenue- EMEA' is estimated at $703.80 million, indicating a 4.4% increase year-over-year [8]. - 'Total Adjusted Revenue- Asia' is projected to be $2.99 billion, reflecting a 4.8% increase year-over-year [8]. - 'Adjusted Revenue- Asia- Net investment income' is expected to reach $1.25 billion, indicating a 13% increase from the prior year [9]. Stock Performance - MetLife shares have decreased by 8.7% over the past month, compared to a 4.8% decline in the Zacks S&P 500 composite [10].

Partnership with Leading Insurers Helps Turbocharge Company's Continued GrowthNEW YORK, April 15, 2025 /PRNewswire/ -- Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, announced today that it has executed an up to $700 million forward-flow facility. New York Life, the largest1 mutual life insurance company in the United States, was the Loan Arranger and lead investor along with MetLife Investment Management (MIM), the institutional asset ma ...

Group 1 - MetLife, Inc. has partnered with SKYGEN to improve the digital experience for dental providers, focusing on simplifying credentialing and provider interactions [1][2] - The integration of SKYGEN's Dental Hub will provide a centralized platform for managing credentialing and directory updates, reducing paperwork and stress for providers [2] - This initiative is expected to enhance provider relationships, leading to better service for policyholders and reinforcing MetLife's position in the dental insurance market [3] Group 2 - A streamlined credentialing system will lower administrative costs, speed up processing times, and improve claims management, resulting in quicker reimbursements for providers and patients [4] - An improved provider experience is likely to attract more dental professionals to MetLife's network, expanding the provider base and enhancing policyholder satisfaction, which contributes to premium revenue growth [4] Group 3 - MetLife shares have increased by 3.1% over the past year, compared to a 12.5% growth in the broader industry [5]

In terms of dividend growth, the company's current annualized dividend of $2.18 is up 1.2% from last year. Over the last 5 years, MetLife has increased its dividend 5 times on a year-over-year basis for an average annual increase of 4.31%. Any future dividend growth will depend on both earnings growth and the company's payout ratio; a payout ratio is the proportion of a firm's annual earnings per share that it pays out as a dividend. MetLife's current payout ratio is 27%. This means it paid out 27% of its t ...

Core Insights - MetLife has launched a new business unit named MetLife Xcelerator in Latin America, which is part of its New Frontier strategy aimed at enhancing digital distribution and strategic partnerships in the insurance sector [1][2] - The New Frontier strategy is projected to support double-digit growth in adjusted earnings per share and deliver a 15-17% adjusted return on equity, with plans to expand into high-growth international markets [2] - The Xcelerator platform integrates insurance products into digital platforms, achieving 4.5 million active customers and generating over $200 million in premiums, fees, and other income since its launch in November 2023 [3][4] Business Strategy - MetLife aims to leverage technology and an agile startup-like model to scale operations across Latin America, improving customer experience and broadening insurance inclusion in regions with traditionally low penetration [4][5] - The initiative positions MetLife as a leader in digital insurance innovation, providing a competitive edge in a rapidly evolving industry [5] Market Performance - MetLife shares have increased by 13.1% over the past year, outperforming the industry growth of 6.7% [6]

Core Viewpoint - MetLife's recent earnings report showed mixed results, with adjusted operating earnings per share (EPS) missing estimates but showing year-over-year growth. The company faces challenges in certain segments, particularly in the Group Benefits and Retirement and Income Solutions (RIS) units, while some areas like Asia performed well [2][3][9]. Financial Performance - Adjusted operating EPS for Q4 2024 was $2.08, missing the Zacks Consensus Estimate by 2.4%, but increased by 7.8% year over year [2]. - Adjusted operating revenues reached $19.7 billion, a 5.4% increase year over year, surpassing consensus estimates by 2.7% [2]. - Total expenses were $17.3 billion, down 4.4% year over year, attributed to lower interest credited to policyholder accounts and reduced interest expenses [5]. Segment Analysis - Group Benefits segment reported adjusted earnings of $416 million, down 11% year over year, but above the consensus estimate [7]. - RIS segment's adjusted earnings fell 8% year over year to $386 million, missing estimates due to reduced margins [8]. - Asia's adjusted earnings grew 50% year over year to $443 million, exceeding estimates, although adjusted PFOs declined by 4% [9]. - Latin America reported adjusted earnings of $201 million, a 3% decrease year over year, but a 10% increase on a constant currency basis [10]. - EMEA segment's adjusted earnings increased 26% year over year to $59 million, though it was below consensus estimates [11]. Capital and Equity - As of December 31, 2024, MetLife had cash and cash equivalents of $20.1 billion, a decline of 2.8% from the previous year [13]. - Total equity fell 8.4% year over year to $27.7 billion, with book value per share at $34.28, down 4.4% [14]. Future Outlook - Management anticipates variable investment income of $1.7 billion for 2025 and expects adjusted losses in the Corporate & Other segment to be between $850 million and $950 million [16]. - Over the next three years, adjusted PFOs in the Group Benefits business are projected to rise by 4-7%, while declines are expected in the MetLife Holdings segment [17]. - The company aims for an adjusted return on equity in the range of 15-17% and double-digit adjusted EPS growth in the near term [18]. Market Position - MetLife's stock has a Zacks Rank of 3 (Hold), indicating an expectation of in-line returns in the coming months [22]. - The company is part of the Zacks Insurance - Multi line industry, which has seen varied performance among peers, such as Everest Group, which reported significant revenue growth but faced challenges in EPS [23][24].

Strategy and Growth - MetLife is executing its New Frontier strategy to accelerate growth across four key areas: Group Benefits, retirement platform, Asset Management, and high growth international markets [25]. - The company is committed to executing its strategy while delivering attractive returns and all-weather performance [25]. Market Position and Operations - MetLife holds leading market positions in the U.S., Asia, Latin America, Europe, and the Middle East, and is one of the largest institutional investors in the U.S. [24]. - MetLife's Asia operations are geographically diverse, operating in nine jurisdictions with Japan being the largest market [43]. - The company employs a multi-channel distribution strategy in Latin America, with significant operations in Mexico and Chile [46]. - In EMEA, MetLife focuses on niche market segments, with major operations in the Gulf region, the U.K., and France [49]. Product Offerings - The Group Benefits segment offers a variety of insurance products, including life insurance, dental, and disability insurance, with a focus on voluntary products to increase sales [34]. - The Retirement and Income Solutions segment provides funding and financing solutions for institutional customers, focusing on employee benefit program liabilities [39]. - The company offers a wide range of life insurance products, including whole and term life, endowments, and variable life products [45]. - MetLife's retirement and savings products include fixed and variable annuities, primarily offered in Chile under a mandatory privatized social security system [48]. Risk Management and Financial Stability - MetLife's financial results are subject to various risks, including economic conditions, credit ratings, and regulatory changes, which may impact future performance [15]. - The company utilizes a variety of underwriting and pricing management controls to assess and quantify insurance risks [60]. - MetLife's pricing strategies are based on expected benefits payouts, considering factors such as mortality, longevity, and investment returns [65]. - MetLife's reinsurance agreements are designed to limit losses and provide additional capacity for future growth, covering individual and group risks [69]. Regulatory Environment - Regulatory frameworks in the U.S. and internationally impose various capital and operational requirements on MetLife's insurance businesses [72]. - The Financial Stability Oversight Council (FSOC) adopted final guidance in 2023 for designating certain financial companies as non-bank SIFIs, simplifying the designation process and potentially increasing regulatory scrutiny [75]. - The NAIC increased the RBC factor for structured security residual tranches from 30% to 45%, effective for year-end 2024 RBC filings, with an immaterial impact on RBC [86]. - The NAIC's group capital calculation tool is now mandated by most states, including New York, which may impact MetLife's business operations [87]. Capital and Solvency - MetLife's Statement-Based Combined RBC Ratio was over 360% and 380% at December 31, 2024 and 2023, respectively, indicating strong capital adequacy [84]. - State insurance statutes restrict dividend payments from insurance subsidiaries to the parent company, requiring regulatory approval for distributions exceeding prescribed limits [83]. - The EEA insurance business is governed by the Solvency II Directive, which promotes comparability and transparency in capital adequacy and risk management [102]. Employee and Talent Management - As of December 31, 2024, the company had approximately 45,000 employees, emphasizing the importance of attracting and retaining skilled talent [163]. - MetLife emphasizes a purpose-driven and inclusive culture to align with business objectives through global forums and employee feedback mechanisms [24]. - The company offers a digitally enabled learning platform, MyLearning, and an AI Academy to enhance employee skills and development [24]. - MetLife maintains a pay-for-performance philosophy linking employee compensation to individual and company performance [24]. Economic and Market Risks - MetLife's risk factors include economic conditions, interest rate fluctuations, and market volatility, which may adversely affect financial performance [172]. - The company faces interest rate risks that could impact profitability and investment returns, particularly during periods of rising rates [178]. - Changes in credit spreads and equity market volatility may affect MetLife's investment income and product revenues [183][184]. - Increased default rates on fixed income securities and mortgage loans may occur due to economic downturns and widening credit spreads, impacting cash flows [189]. Environmental and Regulatory Compliance - The company is subject to extensive environmental laws and regulations, which may impact its operations but are not expected to have a material adverse effect [150]. - The NAIC has adopted a standard for insurance companies to report climate-related risks, applicable to insurers with over $100 million in direct premium [131]. - In 2023, California established climate disclosure requirements for companies meeting revenue thresholds, with MetLife in compliance [134]. - The EU's Corporate Sustainability Reporting Directive requires companies to report on sustainability-related financial risks, with the first reports due in 2025 [135].

MetLife (MET) Conference February 12, 2025 08:00 AM ET Company Participants Michel Khalaf - President & CEOJohn McCallion - Executive VP & CFO Conference Call Participants Joshua Shanker - AnalystNone - Analyst Joshua Shanker That's day two, depending on how accounting of the Bank of America Financial Service Conference for 2025. This is the room that we'll be discussing MetLife. We're really pleased. We have CEO Michel Khalaf and CFO John McKellen here. Just a little bio, even though maybe it doesn't seem ...