MetLife Quarterly Profit Rises 10%
From Bloomberg News
MetLife Inc., the biggest U.S. life insurer, said first-quarter profit rose 10% on a jump in sales.
Net earnings climbed to $362 million, or 47 cents a share, from $329 million, or 44 cents, in the same period a year earlier. Profit excluding realized investment gains and losses was 62 cents, compared with the 65 cents expected by analysts surveyed by Thomson First Call.
MetLife is selling more life insurance and annuities paying fixed rates as demand for variable annuities and other equity-linked products has softened. The company reported $84 million in realized investment losses.
The company reported earnings after trading closed on the NYSE, where its shares fell 63 cents to $28.16.
