MetLife previews Q1 2026 variable investment income

MetLife, Inc. is providing preliminary information on its variable investment income for the quarter ended March 31, 2026 ahead of its full quarterly results.

Rhea-AI Filing Summary

MetLife, Inc. is providing preliminary information on its variable investment income for the quarter ended March 31, 2026 ahead of its full quarterly results. The company estimates pre-tax variable investment income of $475 million to $525 million, compared with full-year 2026 guidance of approximately $1.6 billion pre-tax.

Variable investment income reflects results from private equity, real estate and other funds, as well as prepayment fees. The figures are unaudited, based on preliminary data, and may differ materially once financial closing procedures are complete. MetLife emphasizes that this information is not a substitute for U.S. GAAP financial statements and includes forward-looking statements subject to risk factors described in its SEC filings.

Insights

Insurance sector earnings analyst

MetLife previews Q1 2026 variable investment income in line with full-year guidance framework.

MetLife is giving an early look at Q1 2026 variable investment income of $475M–$525M pre-tax versus full-year 2026 guidance of about $1.6B. This line largely reflects private equity, real estate and other alternative investments, plus prepayment fees.

Early disclosure under Regulation FD helps align market expectations before the full earnings release on May 6, 2026, but the company stresses the estimates are unaudited and could change after closing procedures. Results from alternatives can be volatile, so one quarter’s figure does not necessarily reflect a trend.

The key context will come when final Q1 results are released, showing how this variable investment income interacts with core underwriting, spread income and capital deployment. Subsequent SEC filings will provide the reconciled U.S. GAAP financials and any updates to 2026 guidance.

8-K Event Classification

Item 7.01 — Regulation FD Disclosure

1 item

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Key Figures

Estimated Q1 2026 variable investment income (pre-tax): $475–$525 million Full-year 2026 variable investment income guidance (pre-tax): Approximately $1.6 billion Quarter end date: March 31, 2026 +1 more

4 metrics

Estimated Q1 2026 variable investment income (pre-tax) $475–$525 million Quarter ended March 31, 2026; preliminary and unaudited

Full-year 2026 variable investment income guidance (pre-tax) Approximately $1.6 billion Company’s 2026 guidance reference

Quarter end date March 31, 2026 Period for preliminary variable investment income estimate

Planned earnings release date May 6, 2026 Scheduled release of full Q1 2026 earnings and supplement

Key Terms

variable investment income, prepayment fees, forward-looking statements, Regulation FD Disclosure, +1 more

5 terms

variable investment income financial

"the Company estimates that its variable investment income will be approximately $475 million to $525 million (pre-tax)"

Variable investment income is the portion of returns from assets—like dividends, interest, or portfolio gains—that can rise or fall over time instead of staying fixed. Investors care because it makes earnings less predictable and can change cash flow or reported profits; think of it like a farmer’s crop yield that varies year to year, affecting how much money is available for expenses, reinvestment, or payouts to shareholders.

prepayment fees financial

"Variable investment income includes private equity, real estate and other funds and prepayment fees."

forward-looking statements regulatory

"The forward-looking statements in this disclosure, which use terms such as “estimates,” “guidance,” “preliminary,” and “will,” are based on assumptions and expectations"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Regulation FD Disclosure regulatory

"Item 7.01 Regulation FD Disclosure. MetLife, Inc. (the "Company") is furnishing this"

Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.

U.S. GAAP financial

"These preliminary financial results should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP."

U.S. GAAP is a set of rules and standards that companies in the United States follow to prepare their financial reports. It helps ensure that financial information is consistent and clear, so investors and others can compare and understand a company's financial health easily.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What preliminary variable investment income does MetLife (MET) expect for Q1 2026?

MetLife estimates Q1 2026 variable investment income of $475 million to $525 million pre-tax. This estimate is based on preliminary, unaudited results from private equity, real estate and other funds, plus prepayment fees, and may change once closing procedures are completed.

How does MetLife’s Q1 2026 variable investment income estimate compare to its 2026 guidance?

MetLife’s Q1 2026 estimate of $475–$525 million pre-tax is presented against full-year 2026 variable investment income guidance of about $1.6 billion pre-tax. The company provides this comparison to frame quarterly performance within its broader annual outlook.

When will MetLife (MET) release full Q1 2026 financial results?

MetLife plans to release its full Q1 2026 earnings report and financial supplement on May 6, 2026. The current disclosure only covers preliminary variable investment income and does not replace complete U.S. GAAP financial statements for the period.

What does MetLife include in variable investment income?

MetLife states that variable investment income includes private equity, real estate and other funds, and prepayment fees. These sources can be more volatile than traditional fixed-income investments, so they are highlighted separately from the company’s core recurring investment income.

Are MetLife’s Q1 2026 variable investment income figures audited?

No. MetLife describes the Q1 2026 variable investment income figures as estimated and unaudited. They are prepared consistently with prior periods based on information available, but the company has not completed financial closing procedures and actual results could differ materially.

Does this MetLife (MET) disclosure contain forward-looking statements?

Yes. MetLife explains that the disclosure includes forward-looking statements, using terms such as “estimates,” “guidance,” and “preliminary.” These statements are subject to risks and uncertainties discussed in the company’s SEC filings, and actual results may differ materially.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/07/2026 - 06:05 AM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549  

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): April 7, 2026

METLIFE, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

1-15787

13-4075851

(Commission File Number)

(IRS Employer Identification No.)

200 Park Avenue,

New York,

NY

10166-0188

(Address of Principal Executive Offices)

(Zip Code)

(212) 578-9500

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former Name or Former Address, if Changed Since Last Report) 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, par value $0.01			MET			New York Stock Exchange
Floating Rate Non-Cumulative Preferred Stock, Series A, par value $0.01			MET PRA			New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 5.625% Non-Cumulative Preferred Stock, Series E			MET PRE			New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.75% Non-Cumulative Preferred Stock, Series F			MET PRF			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐

Item 7.01 Regulation FD Disclosure.

MetLife, Inc. (the "Company") is furnishing this Current Report on Form 8-K to disclose preliminary information regarding variable investment income prior to the availability of the Company’s quarterly earnings release and quarterly financial supplement for the quarter ended March 31, 2026, scheduled for release on May 6, 2026.

Based on preliminary results received to date, for the quarter ended March 31, 2026, the Company estimates that its variable investment income will be approximately $475 million to $525 million (pre-tax), which compares to full-year 2026 guidance of approximately $1.6 billion (pre-tax). Variable investment income includes private equity, real estate and other funds and prepayment fees.

The preliminary financial information presented above for the quarter ended March 31, 2026, is estimated and unaudited and has been prepared in good faith on a basis consistent with prior periods based on information available to management as of the date hereof; however, we have not completed our financial closing procedures for the quarter ended March 31, 2026, and our actual results could be materially different from these preliminary financial results. As a result, prospective investors should exercise caution in relying on this information and should not draw any inferences from this information regarding financial or operating data not provided. These preliminary financial results should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP. In addition, these preliminary financial results are not necessarily indicative of the results to be achieved in any future period.

The forward-looking statements in this disclosure, which use terms such as “estimates,” “guidance,” “preliminary,” and “will,” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife, Inc.’s results could differ materially from those it expresses or implies in forward-looking statements. MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking statement if MetLife, Inc. later becomes aware that such statement is not likely to be achieved.

As provided in General Instruction B.2 of Form 8-K, the information provided pursuant to this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

METLIFE, INC.

By:

/s/ Adrienne O’Neill

Name:

Adrienne O’Neill

Title:

Executive Vice President and Chief Accounting Officer

Date: April 7, 2026

3

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