MetLife(MET)2025-02-05 21:32Revenue and Income - Total revenues for the year ended December 31, 2024, were 66,905 million in 2023, representing a growth of approximately 3.2%[5] - Net income attributable to MetLife, Inc. for the year ended December 31, 2024, was 4,444 million in 2023, showing a slight decrease of about 0.4%[5] - Premiums for the fourth quarter of 2024 were 10,647 million in the same quarter of 2023, reflecting a growth of approximately 18.5%[5] - Adjusted earnings available to common shareholders for the year ended December 31, 2024, were 51,961 million in 2023, reflecting an increase of about 1.1%[5] - Net income available to common shareholders for Q4 2023 was 1,239 million by Q4 2024, representing a growth of 115%[6] - Adjusted earnings available to common shareholders for the year ended December 31, 2024, were 1,282 million in 2023, representing a growth of 26.5%[26] Expenses and Ratios - Total expenses for the year ended December 31, 2024, were 64,743 million in 2023, indicating a growth of approximately 1%[5] - The expense ratio for the year ended December 31, 2024, was 19.0%, compared to 18.7% for the year ended December 31, 2023[14] - Direct expense ratio for the year ended December 31, 2024, was 10.7%, a decrease from 11.2% in the previous year[14] - The adjusted expense ratio for the year ended December 31, 2024, was 18.8%, slightly up from 18.6% in the previous year[14] - Total adjusted expenses for the three months ended December 31, 2024, were 2,289 million in the previous year, showing a decrease of 0.7%[26] Investment Income - Net investment income for the year ended December 31, 2024, increased to 19,908 million in 2023, marking a growth of about 6.8%[5] - Adjusted net investment income for the year ended December 31, 2024, is expected to reach 19,749 million in 2023, indicating a growth of about 4.7%[12] - Variable investment income included in net investment income for the year ended December 31, 2024, is projected to be 419 million in 2023, showing a significant increase of about 141%[12] - The company reported net investment losses of (311) million in Q4 2024[6] Assets and Liabilities - The company’s total assets under management in Asia increased, with specific measures detailed in the financial supplement[3] - Total assets decreased to 704,976 million in September 2024[16] - The total liabilities as of December 31, 2024, were 673,812 million in September 2024[16] - The equity of MetLife, Inc. decreased to 31,164 million in September 2024[16] Future Growth and Strategy - Future policy benefits and policyholder account balances were highlighted as key areas for growth and focus in the upcoming fiscal year[3] - The company anticipates a stable growth trajectory in adjusted revenues and net investment income, driven by strategic market expansions and product innovations[12] Notable Items and Adjustments - Total notable items impacting adjusted earnings available to common shareholders were 10 million in Q4 2024[6] - The company reported a net credit loss provision release and impairments of (62) million, compared to 291 million, with a forecast of 182 million in Q4 2023, with a slight decrease to 45 million, with a forecasted decrease to 26,197 million, with a book value per common share of 39,343 million as of December 31, 2023[62]