MetlifeMET

01Adjusted earnings available to common shareholders was $1.6 billion and $3.2 billion for the three months and six months ended June 30, 2026, respectively, compared to $1.4 billion and $2.7 billion for the three months and six months ended June 30, 2025, respectively. Higher recurring investment income reflected positive flows from pension risk transfer transactions and funding agreement issuances, higher income on real estate investments, and higher yields on fixed income securities. Variable investment income increased due to higher returns on private equity funds and higher income on bond prepayment fees. Volume growth contributed to the increase in adjusted earnings available to common shareholders primarily driven by higher average invested assets, primarily in the Asia and Latin America segments.

02MIM represents a fee-based capital-light business layered on top of MetLife's insurance general account. By charging market-rate fees internally and growing third-party AUM via PineBridge, MetLife monetizes its investment platform twice—once through spread income on owned assets, again through advisory fees on third-party capital. This diversifies revenue toward lower-capital, more scalable asset management income.

03Group Benefits adjusted earnings increased reflecting favorable mortality results, as well as a favorable change resulting from refinements to certain insurance liabilities. Mortality results improved in the current period due to lower claims incidence and severity in the life business, while morbidity results benefited from favorable claims experience in the disability business and favorable rate actions within the dental business. Business growth in the Group Benefits segment was driven by growth in voluntary products.

04At June 30, 2026, MetLife holding companies had $3.4 billion in liquid assets. On August 5, 2026, MetLife, Inc. announced that its Board of Directors authorized an additional $3.0 billion of common stock repurchases. For the six months ended June 30, 2026, MetLife, Inc. paid dividends on its common stock of $755 million.