Metlife ( (MET) ) has released its Q4 earnings. Here is a breakdown of the information Metlife presented to its investors.
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MetLife, Inc., a leading global financial services company, provides insurance, annuities, employee benefits, and asset management services in over 40 markets worldwide. In its latest earnings report, MetLife announced a significant increase in net income for 2024, reaching $4.2 billion, a substantial rise from $1.4 billion in 2023. Adjusted earnings also saw an increase, reaching $5.8 billion for the year. However, the company’s book value per share decreased by 4 percent, while the adjusted book value per share showed a modest increase.
The fourth quarter of 2024 was marked by a net income of $1.2 billion, a 116 percent increase compared to the same quarter in 2023. Adjusted earnings for the quarter were $1.5 billion, reflecting a 7 percent increase. Key performance indicators such as return on equity (ROE) and adjusted ROE demonstrated strong results at 19.6 percent and 15.4 percent, respectively.
Significant growth was recorded in specific segments, with the Asia region experiencing a 50 percent increase in adjusted earnings driven by favorable underwriting and investment income. In contrast, Group Benefits and Retirement and Income Solutions segments saw declines in adjusted earnings due to lower underwriting margins and interest rates. The company ended the year with a robust cash position of $5.1 billion, surpassing its target cash buffer.
Looking ahead, MetLife is poised to embark on its New Frontier strategy, focusing on responsible growth. The company’s management emphasizes its strong position, driven by the successful execution of its five-year Next Horizon commitments, indicating continued confidence in achieving future strategic goals.
