Welcome to our dedicated page for MetLife news (Ticker: MET), a resource for investors and traders seeking the latest updates and insights on MetLife stock.
MetLife, Inc. (NYSE: MET), established in 1868, is one of the world’s largest life insurance companies. Headquartered in New York, MetLife operates through its subsidiaries and affiliates to provide a wide range of financial services, including life insurance, annuities, employee benefits, and asset management. Serving approximately 100 million customers, MetLife has a presence in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe, and the Middle East.
Core Business: MetLife's business is organized into five primary segments: US, Asia, Latin America, EMEA (Europe, Middle East, and Africa), and MetLife Holdings. The US segment, which includes group benefits and retirement solutions, contributes around 50% of the company's earnings. The Asia segment, primarily driven by operations in Japan, and increasingly in India, China, and Bangladesh, contributes about 22% of earnings. The Latin America segment, with strong positions in Mexico and Chile, contributes about 13% of earnings, while the EMEA and MetLife Holdings segments contribute approximately 4% and 11% respectively.
Recent Achievements and Current Projects: MetLife has been expanding its digital capabilities and enhancing its customer experience through technology-driven solutions. The company has introduced several innovative products and services aimed at providing comprehensive life insurance and financial planning solutions. In addition, MetLife has formed multiple strategic partnerships to strengthen its market presence worldwide.
Financial Condition: MetLife is financially robust, consistently demonstrating strong performance and stability. The company has a well-diversified portfolio and a solid balance sheet, which enable it to navigate market fluctuations effectively. MetLife’s commitment to maintaining financial strength is reflected in its consistent earnings and prudent risk management practices.
Diversity and Inclusion: MetLife is dedicated to fostering a diverse and inclusive workforce. The company is an equal opportunity/affirmative action employer and is committed to attracting, retaining, and maximizing the performance of a diverse and inclusive team. MetLife ensures equal employment opportunities without discrimination or harassment based on race, color, creed, religion, national origin, citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, and other protected statuses.
For more information, visit the official website: www.metlife.com.
MetLife's 2023 Sustainability Report highlights the company's commitment to volunteerism and community impact. In 2023, MetLife employees contributed over 144,000 volunteer hours across 38 markets, with 43,000+ acts of volunteering. This effort supports MetLife's 2030 DEI Commitments of 800,000 employee volunteer hours focused on underserved communities.
The report showcases various initiatives, including:
- Skills-based and pro-bono volunteering
- Regional programs like Korea's 'Buddy for Seniors'
- Food distribution efforts in Portugal
- Clean water projects in Mexico
- Meal packing in New York City
MetLife offers employees in the U.S. and Asia one paid day off per year to volunteer, fostering a culture of year-round community engagement. These efforts demonstrate MetLife's dedication to making a positive impact through employee volunteerism and community support.
MetLife (NYSE: MET) announced strong financial results for Q2 2024. Net income surged to $912 million ($1.28 per share), a 146% increase compared to Q2 2023. Adjusted earnings rose 9% to $1.6 billion ($2.28 per share). However, book value per share declined by 5% to $33.30. The company’s return on equity (ROE) improved to 15.2%, while adjusted ROE excluding AOCI, climbed to 17.3%.
Segment-wise, Group Benefits saw a 43% increase in adjusted earnings. Adjusted revenues for Retirement and Income Solutions (RIS) fell by 9%, while Asia and Latin America both experienced modest growth. Net investment income increased by 3% to $5.2 billion, although net investment losses were $421 million. Despite the decline in book value, MetLife maintained a robust liquidity position of $4.4 billion, above its target range.
MetLife, Inc. (NYSE: MET) has released a second quarter 2024 financial update video featuring John McCallion, executive vice president and chief financial officer of MetLife, Inc., and head of MetLife Investment Management. The video is available on the company's website at https://www.metlife.com/about-us/newsroom/#video.
MetLife, founded in 1868, is a leading global financial services company offering insurance, annuities, employee benefits, and asset management services. The company operates in over 40 markets worldwide, with strong positions in the United States, Asia, Latin America, Europe, and the Middle East.
MetLife (NYSE: MET) has bolstered its Global Technology and Operations team with two key appointments. Tamar Shapiro joins as Chief Data and Analytics Officer, bringing extensive experience from Instagram and American Express in leveraging data and AI to drive growth and engagement. Dan Antilley becomes the new Chief Information Security Officer, with over 30 years of technology industry experience, primarily at Bank of America where he led various cybersecurity initiatives.
These strategic hires underscore MetLife's commitment to enhancing its technological capabilities and data security. Shapiro will be based in New York City, while Antilley will operate from MetLife's Global Technology Hub in Cary, NC. Both executives bring valuable expertise that aligns with MetLife's focus on combining high-tech solutions with human touch to deliver superior customer service.
MetLife's 2023 Sustainability Report highlights significant progress in environmental stewardship and commitment to Net Zero GHG emissions by 2050 or sooner. Key achievements include:
- 44% decrease in GHG emissions across Scope 1, 2, and 3 business travel from 2019 to 2023
- ~50% of suppliers set emissions-reduction goals aligned with the Paris Agreement
- 1.6M+ trees planted since 2020
- 48% of global offices are green or healthy building certified
- 10,000+ volunteer hours for the 2023 MetLife Extraordinary Litter Pickup
MetLife supports the Paris Agreement and recognizes the impact of environmental issues on customers' and employees' well-being. The company manages climate risks and opportunities while collaborating on solutions for a low-carbon economy transition.
MetLife's 2023 Sustainability Report highlights the company's commitment to community engagement and outreach. MetLife Foundation reached over $1 billion in all-time giving in 2023, with $37.4 million in total grants globally. The report showcases key initiatives:
1. A $30 million multi-year commitment to Upstate New York
2. $8.3 million contributed to environmental causes since 2020
3. 144,000+ volunteer hours across 38 markets
4. $96.1 million to support low-income communities since 2021
The report also details new initiatives addressing wealth and income inequality in the U.S., including the Accelerating Commitment to Equity Innovation Fund ($10 million over two years) and the Community Impact Grant Program ($491,000 in grants to 38 nonprofits).
MetLife Pet Insurance has launched the Golden Beagle Award, offering a $20,000 grant to an innovative animal welfare organization focused on helping large dogs find homes. The award, in collaboration with The Association for Animal Welfare Advancement (AAWA), will be presented at the AAWA conference in November 2024.
This initiative aims to address the challenges larger dogs face in adoption, including longer shelter stays and lower adoption rates. Additionally, MetLife Pet Insurance and AAWA are working together to produce content on access to veterinary care issues, including financial and geographical barriers, through various media formats to support animal welfare organizations and pet parents.
MetLife's Stable Value Study reveals that 69% of plan sponsors are concerned about market volatility's impact on near-retirees, while 61% worry about its effect on retirees. Stable Value funds, offering safety and stability, remain popular with 82% of DC plan sponsors currently offering them. 84% of plan sponsors say stable value was recommended by their advisors, with 76% of advisors citing better historical returns as the top reason.
The study also highlights interest in strategies to manage volatility in Target Date Funds (TDFs). 95% of plan sponsors and 97% of advisors expressed interest in TDF solutions that reduce volatility while maintaining returns. Similarly, 94% of plan sponsors and 95% of advisors showed interest in options that enhance returns while keeping volatility constant.
MetLife's 2023 Sustainability Report highlights the company's commitment to employee care and building confident futures. The report emphasizes MetLife's Employee Value Proposition (EVP), 'All Together Possible', which focuses on three key areas: Guided By Empathy, Winning Together, and Driven By Growth.
Key highlights include:
- Certified as a Great Place to Work® in 11 markets
- 53% of workforce comprises women
- Over 9,500 career development opportunities provided globally
- Record scores in culture, flexibility, well-being, and learning opportunities in annual employee survey
- Launch of Coaching@MetLife program
- 97% of colleagues accessed MyLearning in 2023
The report also notes MetLife's inclusion in Fortune's 2023 list of 100 Best Companies to Work For®.
MetLife Asia has been awarded five new accolades for its 360Health and 360Future solutions, underscoring its commitment to innovation and customer care. 360Health, which offers a holistic approach to physical, mental, financial, and social health, has received four awards, including Digital Insurance Initiative of the Year in Nepal. 360Future, designed to help customers prepare for retirement, won the Customer Service Initiative of the Year in Korea.
These integrated services provide comprehensive support, from AI-backed health assessments to specialized elderly care. Since its 2018 launch, 360Health has garnered 40 awards across six countries, while 360Future, introduced in 2022, has earned five awards to date. MetLife Asia's Chief Marketing Officer, Sanjeev Kapur, emphasized the company's focus on helping customers achieve great health and financial security for longer lifespans.
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