MetLife Inc (WBO:METL)

€ 83.89 0.96 (1.16%) Market Cap: 58.25 Bil Enterprise Value: 71.80 Bil PE Ratio: 17.79 PB Ratio: 1.98 GF Score: 76/100

MetLife Inc Second Quarter 2023 Financial Update Video Transcript

Aug 02, 2023 / NTS GMT

Release Date Price: €57.31 (+0.39%)

Transcript 10-Q8-K

John Dennis McCallion

MetLife, Inc. - Executive VP & CFO

Hello, and thank you for joining as I discuss MetLife's results for the second quarter of 2023. MetLife delivered another solid quarter. While variable investment income remains below historical returns, they improved sequentially, and our underlying fundamentals were strong with good top line growth as well as disciplined underwriting and expense management. And the pending reinsurance transaction with Global Atlantic further demonstrates our commitment to focusing on value creation and deploying capital to its highest and best use.

Second quarter net income was $370 million compared to $881 million in the second quarter of 2022, primarily the result of certain required accounting adjustments associated with the pending reinsurance transaction.

Adjusted earnings were $1.5 billion compared to adjusted earnings of $1.7 billion a year ago, primarily driven by lower variable investment income. Underwriting margins were also less favorable than the prior year but within our targeted ranges. Higher recurring interest margins and solid

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