(Reuters) -MetLife reported a rise in third-quarter profit on Wednesday, as the insurer raked in more income from investments.
Risk-averse insurers typically hold bond-heavy investment portfolios, which offer better yields in a volatile and uncertain market environment. The company said returns on private equity assets were also higher.
MetLife’s net investment income came in at $6.09 billion during the third quarter, up from $5.23 billion a year ago.
Its adjusted premiums, fees and other revenues remained flat over the year earlier.
Founded in 1868, MetLife is one of the largest U.S. life insurers, offering a range of insurance, annuities and employee benefit programs across more than 40 markets.
Adjusted earnings rose to $1.58 billion, or $2.37 per share, during the three months ended September 30. That compares with $1.38 billion, or $1.95 per share, a year earlier, on a constant currency basis.
“We’ve secured $12 billion in pension risk transfers mandates in the fourth quarter to-date and launched strategic partnerships that will expand our reach and enhance access to our insurance and retirement solutions,” CEO Michel Khalaf said in a statement.
Shares of the insurer have fallen 4% so far in 2025, underperforming the broader Dow Jones U.S. Select Insurance index.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shilpi Majumdar)
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