MetLife reported second-quarter adjusted earnings of approximately $1.6 billion, or $2.43 per share, up 15% from a year earlier. Adjusted return on equity reached 17%, the top end of its annual target range, with every business segment posting higher earnings. Group Benefits led growth with a 25% increase in adjusted earnings to $503 million, driven by favorable life underwriting and volume growth, though management cautioned that unusually favorable mortality trends are likely to normalize. The company returned roughly $1.1 billion to shareholders in the quarter and authorized an additional $3 billion share-repurchase program. Management also said it remains on track to beat its full-year expense-ratio target, while asset-management earnings are expected to land near the low end of guidance.
MetLife IncAdjusted earnings rose 15% to $1.6B, ROE hit top of target, and $3B buyback authorized.
