STATISTICS:

MetLife Announces Second Quarter 2017 Results

MetLife, Inc. (NYSE: MET) today announced the following results for the second quarter of 2017. On a GAAP basis, MetLife reported second quarter 2017 net income of USD 838 million, compared to net income of USD 64 million in the second quarter of 2016. On a per share basis, net income was USD 0.77, compared to net income of USD 0.06 in the prior-year period.

Net income includes USD 284 million, after tax, in net derivative losses reflecting changes in foreign currencies, equity markets and interest rates, compared to USD 1.4 billion, after tax, in net derivative losses in the second quarter of 2016. MetLife uses derivatives as part of its broader asset-liability management strategy to hedge certain risks, such as movements in interest rates and foreign currencies. This hedging activity often generates derivative gains or losses and creates fluctuations in net income because the risk being hedged may not have the same GAAP accounting treatment.

Excluding asymmetrical and non-economic accounting impacts of derivatives, investments and other adjustments, second quarter 2017 net income was USD 1.0 billion.

MetLife reported operating earnings of USD 1.4 billion, up 52 percent from the second quarter of 2016, and 54 percent on a constant currency basis. On a per share basis, operating earnings were USD 1.30, up 57 percent from the prior-year quarter.

"We continue to make progress on the transformation of MetLife, delivering strong results globally, including in Group Benefits, Asia, EMEA and Latin America," said Steven A. Kandarian, chairman, president and CEO, MetLife, Inc. "In addition, the Brighthouse Financial spin-off is expected to be completed on August 4 and we remain on track with our plan to return approximately USD 4.5 billion to shareholders this year in dividends and share repurchases." Read the full story

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.

2019-01-18

Lloyd's of London announced new members to the Council

Lloyd's of London announced that Albert BENCHIMOL and Victoria CARTER have been appointed respectively External member and Working member of the Lloyd's Council with effect from 1 February 2019. Michael WATSON, currently on the council, has been re-elected as External member.

2019-01-15

ON THE MOVE

ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.

18.01.2019

TOP EVENT

Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.

10.01.2019

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all