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The fall of return on investment caused MetLife to cut profits

The profit of the largest US life insurer MetLife decreased to $331 million in the third quarter compared to $1.5 billion received in the same period last year. The company's adjusted earnings also fell to $966 million, or $1.22 per share from $1.77 in the third quarter of 2021.
The fall of return on investment caused MetLife to cut profits

The Internet resource UkrStrakhovanie knows from the MetLife report that the company's return in the investment sector decreased by 36% to $3.58 billion, the net investment loss amounted to $414 million. Along with that, MetLife reported premiums, commissions and other returns for the third quarter of 2022 in the amount of $19.6 billion, which was by 68% more compared to the same period last year.

When commenting on the company's results, MetLife President and CEO Michel Khalaf noted: “In the current environment, we are pleased with the implementation of our Next Horizon strategy, which continues to demonstrate its resilience.”

Let us remind you that the 2nd Q 2022 for the largest US life insurer MetLife ended with a reduction in profits to $103 million compared to $3.4 billion in the same quarter last year.

Source: https://www.ukrstrahovanie.com.ua/news/padenie-investiczionnogo-dohoda-stalo-prichinoj-sokrashheniya-pribyli-metlife

Photos are from open sources.

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