MetLife earnings up slightly in 2019

MetLife earnings up slightly in 2019 | Insurance Business

MetLife earnings up slightly in 2019

MetLife has announced its 2019 full-year and fourth-quarter results with the company reporting net income of US$5.07 billion (around AU$7.54 billion) for 2019, up from US$5 billion (around AU$7.44 billion) for the full year 2018. Net income was US$6.06 per share, a 23% increase from the prior year.

MetLife reported adjusted earnings of US$5.8 billion, up from adjusted earnings of US$5.5 billion for 2018. Adjusted earnings were US$6.11 per share, up 13% from the prior year. Adjusted earnings, excluding notable items, were US$5.7 billion, or US$6.06 per share, up from US$5.6 billion, or US$5.49 per share, for the full year 2018.

In addition, it reported net income for Q4 of US$536 million, or US$0.58 per share, down from US$2 billion, or US$2.04 per share, for Q4 2018. Adjusted earnings, excluding notable items, were US$1.4 billion, or US$1.53 per share, compared to US$1.2 billion, or US$1.26 per share, for Q4 2018.

“MetLife had a solid fourth quarter of 2019 to cap a very strong year,” said Michel Khalaf, president and CEO of MetLife. “For the full year, we delivered adjusted earnings per share growth of 13%, achieved a 13.1% return on equity, and generated strong free cash flow that funded roughly US$4 billion of common dividends and share repurchases. We enter 2020 confident our Next Horizon strategy will make us a simpler and more focused company that creates significant long-term value for our customers and shareholders.”