Q1 2025 MetLife Inc Earnings Call Transcript
Key Points
- MetLife Inc (MET) reported adjusted earnings of $1.3 billion or $1.96 per share, up 7% from the same period a year ago.
- The company saw favorable underwriting, good volume growth, and better variable investment income in the quarter.
- MetLife Inc (MET) announced a significant risk transfer deal with Talcott Resolution Life Insurance Company to reinsure approximately $10 billion of US retail variable annuity and rider reserves.
- The company returned around $1.8 billion to shareholders through common stock dividends and share repurchases in the first quarter.
- MetLife Inc (MET) has been named among the 100 best companies to work for by Fortune for the third year in a row.
- Adjusted earnings in Asia were down 12% over the same period a year ago due to lower underwriting margins and higher taxes.
- Latin America adjusted earnings were down 6% from the year-ago period, impacted by foreign exchange rates.
- The company experienced a decline in spreads in the RIS business due to lower rates and a flatter curve than expected.
- MetLife Holdings adjusted earnings were down 3% due to the runoff of the business.
- The company faced challenges in the current environment, making it difficult to predict private equity returns.
Welcome to the MetLife first quarter 2025 earnings conference call. (Operator Instructions) As a re,inder, this conference is being recorded.
Before we get started, I refer you to the cautionary note about forward-looking statements in yesterday's earnings release and to risk factors discussed in MetLife's SEC filings.
With that, I will turn the call over to John Hall, Global Head of Investor Relations. Please go ahead.
Thank you, operator. Good morning, everyone. We appreciate you joining us for MetLife's first quarter 2025 earnings call. Before we begin, I'd point you to the information on non-GAAP measures on the investor relations portion of metlife.com, in our earnings release and in our quarterly financial supplements, which you should review.
On the call this morning are Michel Khalaf, President and Chief Executive Officer; and John McCallion, Chief Financial Officer and Head of MetLife Investment Management. Also participating in the discussion are other members of
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