Key facts
- MetLife's second-quarter adjusted profit increased due to strong underwriting and volume growth.
- Premiums, fees and other revenue rose 7% to $13.7 billion.
- Group benefits adjusted profit saw a 25% increase.
- Asia and Latin America operations reported significant earnings growth.
- Net investment income increased by 18% to $6.7 billion.
- Adjusted earnings per share grew 20% to $2.43.
MetLife reported a substantial increase in its second-quarter adjusted profit, driven by strong underwriting performance and widespread volume growth, with notable contributions from its Asia and Latin America operations. The insurer's premiums, fees, and other revenue climbed 7% to $13.7 billion. Group benefits, which encompass employer-sponsored insurance products, experienced a 25% rise in adjusted profit, reaching $503 million. Asia's adjusted earnings grew by 21% on a reported basis, while Latin America saw a 15% increase. The company's net investment income surged 18% to $6.7 billion, a common benefit for insurers investing collected premiums. MetLife's adjusted earnings per share rose 20% to $2.43 for the three months ending June 30. CEO Michel Khalaf stated that the quarter reinforces the company's ability to create value for shareholders across economic cycles.