MetLife reports 33% drop in profit as market turmoil hits investment returns

Written by Adam Cadle

02/02/2023

MetLife has reported a 33% drop in Q4 adjusted profit as market turmoil has hit investment returns.

Lower private equity returns have seen MetLife’s net investment income fall by 15% to $4.5bn in the final quarter of 2022.

Shares in the insurer fell 2% in extended trading following the results.

A total value of $5.4bn in holding company cash and liquid assets was recorded as at 31 December 2022, which is above the target cash buffer of $3bn-$4bn, however.

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