MetLife - MET STOCK NEWS

MetLife (NYSE: MET) reported Q3 2024 net income of $1.3 billion ($1.81 per share), up from $422 million ($0.56 per share) in Q3 2023. Adjusted earnings were $1.4 billion ($1.95 per share), compared to $1.5 billion ($1.97 per share) in Q3 2023. Total revenues increased to $18.4 billion, with net investment income up 8% to $5.2 billion. The company maintained strong liquidity with holding company cash of $4.5 billion, above the target buffer of $3.0-4.0 billion. Return on equity was 20.2%, while adjusted ROE excluding AOCI was 14.6%. Book value per share increased 33% to $39.02.

MetLife Foundation has announced new recipients for its Community Impact Grant Program (CIGP), supporting local non-profits addressing income and wealth inequality. In 2024, the program has supported over 80 organizations worldwide, awarding $2.6 million across 16 U.S. cities and six Asia-Pacific countries. The latest round includes 22 non-profits in Dallas, Greenville, Kansas City, and Newark, plus 11 organizations across Asia-Pacific. Grants focus on hunger relief, physical and mental well-being, environmental sustainability, and quality of life initiatives. The program, launched in 2023, involves MetLife employee volunteers in reviewing grant applications.

MetLife's Annual Expat Employee Benefit Trends Study reveals a significant increase in globally-mobile work, with 68% of employers expecting growth, up from 45% in 2023. The study highlights a shift towards younger, solo employees taking global assignments, with 42% doing so alone. However, only 59% of globally-mobile employees report feeling holistically healthy, indicating an opportunity for employers to enhance care and support.

The research emphasizes the importance of care delivery during critical work and life moments unique to global assignments. Gaps exist between employees experiencing major impacts and those feeling employer care, particularly in areas like unplanned financial stress, burnout, and health concerns. When employees feel cared for, they show increased loyalty (36%), productivity (40%), and engagement (40%).

The study also highlights the need for improved benefits communication, with 64% of employees finding current communications irrelevant and 72% desiring more information to maximize their benefits. Employers can enhance global mobility programs by tailoring benefit offerings and communications to address specific needs of globally-mobile employees.

MetLife, Inc. (NYSE: MET) has announced that its board of directors has declared a fourth quarter 2024 common stock dividend of $0.545 per share. The dividend will be payable on Dec. 16, 2024, to shareholders of record as of Nov. 5, 2024.

MetLife is one of the world's leading financial services companies, providing insurance, annuities, employee benefits, and asset management. Founded in 1868, the company operates in more than 40 markets globally and holds leading positions in the United States, Asia, Latin America, Europe, and the Middle East.

MetLife (NYSE: MET) has been recognized by Seramount for its inclusive culture and diversity efforts. The company received accolades for its employee programs, leadership accountability, and practices that promote diversity, equity, and inclusion (DEI). MetLife was named to several Seramount lists and indexes, including:

1. Global Inclusion Index: Recognized in 16 markets
2. U.S. Inclusion Index: Named a Leading Inclusion Index Company
3. Top Companies for Executive Women: Maintained position in Hall of Fame
4. Best Companies for Multicultural Women: Recognized for the 7th year

MetLife's initiatives, such as its global employee-driven networks (MOMENTUM) and team-learning experience (INDEAVOR), were highlighted for fostering trust, inclusion, and collaboration. Dr. Cindy Pace, MetLife's Global Chief DEI Officer, emphasized the importance of an inclusive culture for employee well-being and business performance.

MetLife's 2024 Pension Risk Transfer Poll reveals a growing trend in pension de-risking. The percentage of companies planning to completely divest their defined benefit pension plan liabilities has increased to 93%, up from 89% in 2023. About 52% plan to divest within 2-5 years, with an average of 3.8 years.

The main catalysts for de-risking are rising interest rates (47%), rising inflation (45%), and increased market volatility (44%). Plan sponsors are taking preparatory steps, including improving data quality (56%) and increasing plan contributions (52%).

66% of plan sponsors are likely to use an annuity buyout for de-risking, up from 46% in 2015. 68% will secure a group annuity for a retiree lift-out. 90% of plan sponsors are closely tracking market pricing for annuity buyouts, with 82% concerned about missing competitive rates.

MetLife (NYSE: MET) has announced its upcoming third quarter 2024 earnings conference call, scheduled for Thursday, October 31, 2024, from 9-10 a.m. (ET). The call will follow the release of MetLife's third quarter 2024 earnings news release and Financial Supplement on Wednesday, October 30, 2024, after market close.

The conference call will be available live via the internet, with registration required for participation. A replay of the call will be accessible via telephone and internet from October 31, 2024, at 11:00 a.m. (ET) until November 7, 2024, at 11:59 p.m. (ET). Interested parties can access the replay by dialing 800-770-2030 (U.S.) or 647-362-9199 (outside the U.S.) using the Conference ID 79508.

MetLife's Upwise, a proprietary solution designed to help employees choose and use benefits wisely, will be available to nearly one million U.S. employees this open enrollment season. Upwise addresses the growing demand for diverse benefits options and the lack of benefit comprehension among employees. The platform offers personalized benefit recommendations, including AI-powered major medical benefit suggestions, based on individual needs and preferences.

Key features of Upwise include:

• Utilization of permissioned personal medical information and financial data
• Recommendations across various health and nonmedical insurance plans
• Regular engagement nudges to promote benefit usage throughout the year

Early results show that Upwise has yielded solid double-digit growth in benefits enrollment during the open enrollment period, potentially leading to a healthier, more productive workforce and supporting key business imperatives.

MetLife's annual TTX report reveals a significant increase in women's interest in STEM careers, with 60% finding such careers appealing. This trend emerges as 90% of STEM employers express concerns about talent scarcity and the need to bridge this gap. The report highlights the importance of fostering an inclusive culture to attract more female talent.

The upcoming 6th annual Triangle Tech X (TTX) conference, titled 'The Disruption Advantage: Powering Inclusion and Innovation in STEM,' will address these issues. The free, virtual event on October 1-2 will feature notable speakers like Katie Ledecky, Mick Ebeling, and Sallie Krawcheck.

The survey also found that 66% of women view disruption as advantageous in the workplace. However, challenges remain, including a lack of female role models and mentors in STEM fields. Increasing women's participation in STEM could drive greater disruptive thinking and address talent shortages, according to 65% of employees.