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Search resuls for: "MetLife Inc"


5 mentions found


☆ Life insurers binge on US financing aimed at helping housing
  + stars: | 2023-12-05 | by ( Koh Gui Qing | ) www.reuters.com   time to read: +8 min
It has been predominantly used by life insurers, because they need to boost their investment returns with cheap funding to meet long-term liabilities. They provide the cheap funding to banks and insurers in exchange for collateral to ensure they get their money back. Insurers are entitled to tap FHLB funding. Insurers’ borrowing from FHLBs picked up in 2008 financial crisis, as those that spread themselves thin with aggressive investments scrambled for cash. They did not explain why insurers need FHLB funding to invest in mortgages.
Persons: Sarah Silbiger, Ryan Donovan, CMBS, Lawrence White, White, Graphics JUICING, Cynthia Beaulieu, Cornelius Hurley, Hurley, FHLBs, ’, Michael Ericson, Jack Dolan, Koh Qui, Greg Roumeliotis, Anna Driver Organizations: REUTERS, Loan, Federal Housing Finance Agency, of Federal Home Loan, FHLBs, FHLB, National Association of Insurance, New York University, MetLife Inc, Equitable Holdings Inc, Corebridge, Brighthouse Financial, MetLife, TIAA, Equitable, Graphics, Wellington Management, Boston University School of Law, Coalition, Silicon Valley Bank, First, American, of, Insurance Coalition, Reuters, Thomson Locations: Washington , U.S, U.S, Boston, Silicon, First Republic, Chicago, New York
☆ MetLife profit drops as economic worries hurt investment income
  + stars: | 2023-05-03 | by ( ) www.reuters.com   time to read: +1 min
May 3 (Reuters) - MetLife Inc's (MET.N) first-quarter profit missed Wall street estimates on Wednesday as growing economic uncertainty hurt the insurer's investment income, sending its shares down 2% in extended trading. Adjusted net investment income fell 8% to $4.6 billion in a quarter marred by a string of high-profile bank collapses that roiled financial stocks. "We remain focused on managing risk across economic cycles and controlling what we can to deliver for our shareholders and our stakeholders," Khalaf said. Adjusted premiums, fees and other revenues - excluding pension risk transfers (PRT) at MetLife - rose 3% to $11.54 billion. Rival insurer Prudential Financial Inc (PRU.N) had reported a lower-than-expected quarterly profit on Tuesday due to a decline in its assets under management.
☆ MetLife profit falls 33% as market turmoil hits investment income
  + stars: | 2023-02-01 | by ( ) www.reuters.com   time to read: +1 min
Feb 1 (Reuters) - MetLife Inc (MET.N) reported a 33% drop in fourth-quarter adjusted profit on Wednesday as a global market rout hurt the U.S. insurer's investment returns. Adjusted premiums, fees and other revenues - excluding pension risk transfers (PRT) - decreased 1% to $11.4 billion. Still, improving underwriting trends in the United States, Europe and Latin America, alongside lower COVID-19 life insurance claims, partially offset the hit to its investment income. U.S. adjusted earnings climbed 20% in the quarter, while Latin America and EMEA jumped 45% and 67%, respectively, on a reported basis. The company posted adjusted profit of $1.2 billion, or $1.55 per share, for the three months ended Dec. 31, compared with $1.8 billion, or $2.17 per share, a year earlier.
☆ MetLife third-quarter profit more than halves on lower investment returns
  + stars: | 2022-11-02 | by ( ) www.reuters.com   time to read: +1 min
Nov 2 (Reuters) - MetLife Inc (MET.N) on Wednesday reported a 53% drop in third-quarter profit as economic pressures and a global market rout led to weaker returns from the U.S. insurer's investments. The company's U.S. unit saw a 17% decline in adjusted profit, while the Asia segment recorded a 65% slump. Fewer claims tied to COVID-19 as the cases ease around the world helped the insurer ride out disappointing investment returns in the quarter. However, that was not enough to offset the hit to net investment income, which fell 36% to $3.59 billion. The company posted adjusted profit of $966 million, or $1.21 per share, compared to $2.06 billion, or $2.39 per share, a year earlier.
☆ With Interest Rates Rising, Companies Look to Unload Pension Liabilities
  + stars: | 2022-09-28 | by ( Jennifer Williams-Alvarez | ) www.wsj.com   time to read: +6 min
Rising interest rates are boosting corporate pension plans, providing finance chiefs with an option to lighten their companies’ balance sheets and transfer obligations to insurers. PREVIEWWhen interest rates rise, liabilities for defined-benefit plans—a type of pension plan that promises fixed amounts to participants—shrink. They can also move just a portion of their pension obligations, but that still requires a high funding status. “If interest rates level off or decrease, the funded status could fall pretty quickly,” said Matt McDaniel, a partner at Mercer who advises companies on pension risk transfers. Recent stock market declines have hurt some defined-benefit pension plans invested in publicly traded equities, Mr. McDaniel said.
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