MetLife(MET) - 2023 Q2 - Earnings Call Presentation

Financial Performance - MetLife's net income for 2Q23 was $370 million, or $0.48 per share[3] - Adjusted earnings for 2Q23 were $1492 million, or $1.94 per share[3] - Adjusted earnings ex total notable items for 2Q23 were $1492 million, or $1.94 per share[5] - Total net investment losses in 2Q23 were $821 million post-tax, including adjustments of $699 million related to the pending reinsurance transaction with Global Atlantic Financial Group[3] Segment Performance (Adjusted Earnings) - Group Benefits: $372 million in 2Q23, a decrease of 8% compared to $406 million in 2Q22[5] - Retirement and Income Solutions: $417 million in 2Q23, an increase of 11% compared to $374 million in 2Q22[5] - Asia: $431 million in 2Q23, a decrease of 11% (9% on a constant rate basis) compared to $486 million in 2Q22[5] - Latin America: $219 million in 2Q23, a decrease of 13% (21% on a constant rate basis) compared to $251 million in 2Q22[5] - EMEA: $70 million in 2Q23, an increase of 6% (15% on a constant rate basis) compared to $66 million in 2Q22[5] - MetLife Holdings: $211 million in 2Q23, a decrease of 31% compared to $305 million in 2Q22[5] - Corporate & Other: $(228) million in 2Q23, compared to $(227) million in 2Q22[5] Variable Investment Income (VII) - Total Variable Investment Income for 2Q23 was $175 million[9] Investment Portfolio - Commercial Mortgage Loan (CML) portfolio is $52.7 billion[15] - 89% of the CML portfolio has Loan-to-Value (LTV) ratios less than 80%[16] - 93% of the CML portfolio has Debt Service Coverage Ratios (DSCR) greater than 1x[16] Capital Management - Share repurchases of $0.7 billion in 2Q23[24]