MetLife Announces 2Q 2026 Results

MetLife Announces 2Q 2026 Results

Strong business momentum continues under New Frontier strategy

• Net income increased 1%¹ to $705 million, or $1.09 per share.
• Adjusted earnings increased 15% to $1.6 billion, driven by favorable underwriting and volume growth.
• Adjusted earnings per share increased 20% to $2.43.
• Premiums, fees and other revenues (PFOs) increased 7% to $13.7 billion.
• Adjusted PFOs, excluding pension risk transfers (PRT), increased 5% to $13.0 billion, with widespread growth across every operating segment.
• Net investment income up 18% to $6.7 billion.
• Book value per share (BVPS) up 8% to $38.59, adjusted BVPS up 3% to $57.71.
• Returned over $1.1 billion to shareholders via share repurchases and common stock dividends.
• Holding company cash and liquid assets totaled $3.4 billion at quarter end, within our target range.
• Adjusted return on equity of 17% for the second straight quarter, at the top of our range.
• Group Benefits adjusted earnings up 25% to $503 million.
• Retirement and Income Solutions adjusted earnings up 2% to $377 million.
• Asia adjusted earnings up 21% to $420 million.
• Latin America adjusted earnings up 15% to $268 million.
• EMEA adjusted earnings up 8% to $108 million.
• MetLife Investment Management adjusted earnings up 6% to $57 million.

Comment from Michel Khalaf, President and Chief Executive Officer:

MetLife delivered an excellent second quarter. Adjusted earnings per share rose 20 percent, powered by strong underwriting and broad volume growth.

Our New Frontier strategy is working. Disciplined execution is driving balanced growth and generating attractive returns, with adjusted return on equity at 17 percent year-to-date.

Our scale, diversification and financial strength set MetLife apart, and this quarter further reinforces our ability to create value for shareholders across cycles, while keeping customers at the center of everything we do.