If You Invested in MetLife (MET)

MetLife, Inc. (NYSE: MET) is a global financial services company that focuses on insurance, annuities, employee benefits and asset management. Through its subsidiaries and affiliates, MetLife serves both individual and institutional customers and states that its goal is to help them build a more confident future. According to company disclosures, MetLife was founded in 1868 and has operations in more than 40 markets worldwide, with leading positions in the United States, Asia, Latin America, Europe and the Middle East.

Business model and core activities

MetLife describes itself as one of the world’s leading financial services companies, providing products and services across insurance, annuities, employee benefits and asset management. Its activities span protection and retirement offerings for individuals, as well as benefits and financial solutions for employers and institutions. The company also operates an institutional asset management business, MetLife Investment Management (MIM), which manages assets for MetLife entities and third parties.

MetLife’s operations are organized into geographic and product-oriented segments. Based on company filings, the firm is organized into six segments: Group Benefits; Retirement and Income Solutions (RIS); Asia; Latin America; Europe, the Middle East and Africa (EMEA); and MetLife Investment Management (MIM). Certain results are also reported in Corporate & Other. Earlier disclosures also referred to MetLife Holdings as a segment containing closed-block businesses, which the company indicates are now primarily reported within Corporate & Other following a resegmentation.

Segment overview

Group Benefits focuses on benefit offerings provided through employers and other group relationships. Company reports highlight underwriting performance in areas such as non-medical health benefits and reference core and voluntary products within this segment.

Retirement and Income Solutions (RIS) centers on retirement-related offerings. Company materials reference activities such as pension risk transfers, structured settlements and longevity reinsurance, as well as institutional income annuities that can be integrated into defined contribution plans through collaborations with partners.

Asia, Latin America and EMEA represent MetLife’s regional insurance and financial services businesses outside the United States. The company reports adjusted earnings, premiums, fees and other revenues, and sales across these regions, and notes growth trends and sales performance in markets including Japan and other Asia and Latin America markets, as well as Europe and the Middle East.

MetLife Investment Management (MIM) is identified in filings as the company’s institutional asset management business. The company has reorganized its reporting to present MIM as a separate reportable segment and has amended agreements so that MIM manages general account assets at current market fee rates. MetLife also discloses acquisitions in this area, such as the acquisition of PineBridge Investments, LLC and certain affiliates by MIM, and provides pro forma total assets under management information in connection with that transaction.

Products, services and specialized offerings

MetLife’s disclosures indicate that it provides insurance and annuity products, employee benefits, and asset management services. Within employee benefits, the company highlights disability and leave management services and digital tools that support employees through leaves of absence, as well as solutions aimed at holistic workforce well-being. MetLife’s research and benefit trend studies focus on areas such as health-related absenteeism, non-medical benefits, preventive care and financial wellness.

The company also references institutional income annuities and guaranteed retirement income solutions available within defined contribution plans through collaborations with third-party platforms. These offerings are designed to convert retirement savings into predictable income streams, reflecting the firm’s focus on retirement income solutions.

MetLife operates in specialized niches as well, such as pet insurance. MetLife Pet Insurance works with animal welfare organizations and technology partners to integrate pet insurance quotes into the adoption and registration process, offering coverage options that can address emergency care and preventive care needs.

Geographic footprint and markets

According to repeated company descriptions in news releases, MetLife has operations in more than 40 markets globally. It reports holding leading positions in the United States, Asia, Latin America, Europe and the Middle East. The company’s regional segments (Asia, Latin America and EMEA) reflect this footprint, and its disclosures discuss sales and earnings trends in these regions. In addition, MetLife Foundation references grants and community initiatives in communities where MetLife has a presence, further underscoring the firm’s international reach.

Capital markets profile

MetLife, Inc. is incorporated in Delaware and its common stock trades on the New York Stock Exchange under the symbol MET. The company also has several series of preferred stock and related depositary shares listed on the New York Stock Exchange, including Series A, Series E and Series F non-cumulative preferred stock. MetLife regularly announces dividends on its common and preferred shares and reports on share repurchase activity and capital deployment priorities in its public communications and SEC filings.

Risk management, reinsurance and asset management

Company communications describe actions taken to manage risk and capital, including reinsurance transactions for variable annuity blocks and pension risk transfer mandates. For example, MetLife has disclosed a variable annuity risk transfer transaction with Talcott Resolution Life Insurance Company, designed to reduce portfolio risk and accelerate the run-off of certain legacy business within MetLife Holdings. The company also reports that MetLife Investment Management manages assets under investment management agreements with counterparties in connection with such transactions.

MetLife’s filings and earnings materials reference variable investment income, including returns from private equity, real estate and other funds, as a component of its net investment income. The company periodically furnishes preliminary information on variable investment income and provides guidance on expected returns on its private equity portfolio. It also publishes fact sheets on total assets under management and pro forma combined assets under management following acquisitions in its asset management business.

Research, insights and employee benefits focus

MetLife produces recurring research such as the U.S. Employee Benefit Trends Study and retirement-focused studies. These studies examine workforce well-being, benefit strategies, holistic health (including physical, mental, financial and social dimensions) and retirement confidence. Company releases highlight findings on topics like rising living expenses and medical costs, use of non-medical benefits, preventive care, and demand for guaranteed retirement income. These insights inform MetLife’s positioning in employee benefits and retirement income markets.

Community and philanthropic activities

Through MetLife Foundation, the company supports initiatives related to inclusive economic mobility, economic empowerment, financial health and resilient communities. The Foundation collaborates with nonprofit organizations and provides grants in communities where MetLife operates. It has been identified as a founding donor to initiatives such as the FIFA Global Citizen Education Fund, which aims to expand access to education and sport for children globally.

Corporate governance and regulatory reporting

MetLife files regular reports and current reports on Form 8-K with the U.S. Securities and Exchange Commission. These filings cover topics such as earnings releases, segment reorganizations, acquisitions, preferred stock matters, preliminary financial information, and responses to unsolicited mini-tender offers. The company also updates its Quarterly Financial Supplement and related materials to reflect changes in segment reporting and asset management arrangements.

FAQs about MetLife, Inc. (MET)

• What does MetLife, Inc. do?
  MetLife, Inc., through its subsidiaries and affiliates, is a financial services company that provides insurance, annuities, employee benefits and asset management. The company states that it aims to help individual and institutional customers build a more confident future.
• When was MetLife founded?
  According to company descriptions in its news releases, MetLife was founded in 1868.
• Where does MetLife operate?
  MetLife reports operations in more than 40 markets globally and notes leading positions in the United States, Asia, Latin America, Europe and the Middle East.
• On which exchange does MetLife trade and what is its ticker symbol?
  MetLife’s common stock is listed on the New York Stock Exchange under the symbol MET.
• What are MetLife’s main business segments?
  Company filings state that MetLife is organized into six segments: Group Benefits; Retirement and Income Solutions (RIS); Asia; Latin America; Europe, the Middle East and Africa (EMEA); and MetLife Investment Management (MIM). Certain results are also reported in Corporate & Other.
• What types of products and services does MetLife offer?
  MetLife provides insurance and annuity products, employee benefits, and asset management services. It also offers specialized offerings such as institutional income annuities for retirement plans and pet insurance through MetLife Pet Insurance.
• How is MetLife involved in employee benefits and workforce well-being?
  MetLife publishes the U.S. Employee Benefit Trends Study and other research on workforce well-being, and offers benefits such as disability and leave management services, non-medical benefits, and tools that support employees’ holistic health and financial security.
• What is MetLife Investment Management (MIM)?
  MIM is MetLife’s institutional asset management business. According to SEC filings, MIM has been designated as a reportable segment and manages general account assets at current market fee rates, as well as assets for third parties. MIM has also expanded through acquisitions such as PineBridge Investments, LLC and certain affiliates.
• How does MetLife manage risk in its insurance and annuity portfolios?
  MetLife describes the use of risk transfer options, including reinsurance transactions for variable annuity blocks and pension risk transfer mandates, to reduce portfolio risk and manage legacy business. It also highlights the role of MetLife Investment Management in managing assets associated with these arrangements.
• What is MetLife Foundation and what does it focus on?
  MetLife Foundation is the company’s philanthropic arm. It focuses on inclusive economic mobility through grants aligned to economic empowerment, financial health and resilient communities, and supports initiatives such as the FIFA Global Citizen Education Fund.