Company Overview

MetLife Inc. stands as one of the largest global providers of insurance, annuities, and employee benefit programs, serving approximately 90 million customers in over 60 countries. As of September 2025, the company holds a significant market capitalization of $53.7 billion, solidifying its status as a major entity within the financial services industry.

Founded on March 24, 1868, MetLife, Inc. was officially incorporated in 1999 and is headquartered in New York, New York. It is recognized as the largest life insurer in the United States, based on life insurance in-force. The company employs a global workforce of 45,000 individuals, operating under a robust business model centered on providing comprehensive insurance products and employee benefit solutions.

Business Segments

MetLife is structured across six primary segments:

- Group Benefits: US-based offerings contributing to employee benefit packages.

- Retirement and Income Solutions (RIS): US-based segment focused on retirement planning and income products.

- Asia: A significant contributor, with earnings heavily influenced by its operations in Japan.

- Latin America: Holds leading market positions in countries such as Mexico and Chile.

- Europe/Middle East/Africa (EMEA): Represents operations across these diverse regions.

- MetLife Holdings: Manages products that are in run-off.

In 2024, Group Benefits and RIS together accounted for approximately 48% of the firm's adjusted earnings. The Asia segment contributed around 25% of earnings, primarily from Japan. The Latin America segment provided about 13% of 2024 earnings, while the EMEA and MetLife Holdings segments contributed approximately 4% and 10%, respectively.

Products and Services

Employee Benefits

MetLife provides an extensive array of core and voluntary benefit products designed to create comprehensive employee benefits packages. This includes group dental benefit plans for individuals, employees, retirees, and their families, administering dental plans for over 20 million people.

The company also offers the broadest range of group life insurance products, complemented by a suite of value-added services. MetLife's approach is comprehensive and customizable, allowing employers to select coverage that best meets their employees' needs while managing costs effectively.

Life Insurance Products

MetLife's individual life insurance offerings encompass term life insurance and various types of permanent life insurance, such as whole life, universal life, and final expense whole life insurance. These policies differ in duration, coverage amount, and the requirement of a medical exam. Additionally, the company provides group life insurance through employers, which includes term life, permanent life, and accidental death and dismemberment coverage.

Annuities and Retirement Solutions

MetLife is a leading global provider of annuities, with $22.4 billion in annuity sales recorded in 2009. Its annuity products include fixed annuities, variable annuities, deferred annuities, and immediate annuities. Notably, MetLife was the first company to issue a group annuity contract in 1921 and introduced a longevity insurance product in 2004.

Financial Performance

Full Year 2024 Results

MetLife reported a net income of $4.2 billion for the full year 2024, a substantial increase from $1.4 billion in full year 2023. This translated to $5.94 per share, up 228% from the prior year.

Adjusted earnings for full year 2024 reached $5.8 billion, up from $5.5 billion in 2023, resulting in adjusted earnings of $8.15 per share, an increase of 12% year-over-year.

In 2024, MetLife's total revenue was $70.98 billion, marking a 6.10% increase from the previous year's $66.90 billion. Earnings saw a significant rise of 206.23%, reaching $4.23 billion.

Q1 2025 Results

For the first quarter of 2025, MetLife reported a 10% increase in net income, reaching $879 million. Premiums, fees, and other revenues (PFOs) grew by 14% to $13.6 billion. Adjusted earnings saw a modest rise of 1% to $1.3 billion. The book value per share increased by 2% to $35.16.

Strategic Direction

MetLife's strategic objectives, guided by its "New Frontier" plan, focus on several key areas: extending its leadership in the US group benefits business, increasing the business mix from retirement and international segments, and expanding its asset management arm to surpass $1 trillion in assets under management. The firm is actively working to reduce its exposure to more volatile US individual underwriting.

To streamline its operations and mitigate risk, the company has divested its US retail arm, which previously concentrated on variable annuities and universal life policies with secondary guarantees. The quality of the firm's earnings is expected to continue improving as the closed blocks within its MetLife Holdings segment gradually wind down.

Global Presence

MetLife leverages its extensive global footprint and diversified product portfolio through its subsidiaries and affiliates to maintain leading market positions across the United States, Japan, Latin America, the Asia-Pacific region, Europe, and the Middle East. The company operates with purpose-driven individuals who contribute to its impact in over 40 markets globally.

MetLife continues to utilize its wide-reaching global presence and varied product offerings to serve millions of customers worldwide, reinforcing its standing as a premier provider of insurance and employee benefit solutions across numerous markets and geographies.