MetLife(MET) - 2022 Q4 - Earnings Call Presentation

Financial Performance - MetLife's adjusted earnings were $1.226 billion in 4Q22[3], and $5.434 billion for the full year 2022, excluding total notable items[3] - MetLife's share repurchases amounted to $0.6 billion in 4Q22 and $3.3 billion for the full year 2022[16] - The company expects total U S Statutory Adjusted Capital of $18.3 billion as of December 31, 2022, a 3% decrease from September 30, 2022[16] Segment Results (Adjusted Earnings ex Total Notable Items) - Group Benefits generated $400 million in 4Q22, a significant increase compared to $20 million in 4Q21[5] - Retirement and Income Solutions contributed $371 million in 4Q22[5] - U S segment earned $771 million in 4Q22, a 20% increase from $640 million in 4Q21[5] - Asia generated $215 million in 4Q22, a 62% decrease from $586 million in 4Q21[5] - Latin America reported $181 million in 4Q22, a 45% increase from $125 million in 4Q21[5] - EMEA earned $70 million in 4Q22, a 67% increase from $42 million in 4Q21[5] - MetLife Holdings contributed $208 million in 4Q22, a 57% decrease from $482 million in 4Q21[5] - Corporate & Other reported a loss of $219 million in 4Q22, compared to a loss of $177 million in 4Q21[5] Outlook and Targets - MetLife targets an adjusted return on equity of 13-15%[20] - The company aims for a free cash flow ratio of 65-75% of adjusted earnings[20] - MetLife targets a direct expense ratio of 12.6%[20] - The company anticipates variable investment income of approximately $2.0 billion for 2023[21] - MetLife expects a corporate & other adjusted loss of $650 – $750 million for 2023[21]