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13:00
Aug 06 ◎

MET FY2026 Q2 Watch

MetLife, Inc. (MET) FY2026 Q2 Earnings Call

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Michel

Management expects growth to sustain through H2 driven by broad-based volume, capital deployment, and a return to normal private equity returns.

"Our second quarter performance illustrates the advantage of diversification."

MET WATCH

Ramy

Group life mortality runs well below target due to favorable working-age population mortality, but management flagged 2 points as transient prior-period development and expects normalization—early July shows reversion. — If mortality normalizes, insurers pricing off pandemic-era improvement face margin compression, while managed care beneficiaries (elderly) may see divergent trends.

"We've been seeing favorability in mortality for a number of quarters right now. Now, this quarter in particular, we saw about two points of favorability that came from a combination of prior period development, as well as below"

UNH WATCH CI WATCH ELV WATCH

John

Private equity returns were weak (0.8% average) despite strong public markets, reflecting a one-quarter lag; management expects a rebound in Q3 driven by Venture Capital and elevated IPO activity—suggesting IPO market is heating up. — IPO windows may open for late-stage startups; investment banks (GS/MS) could see underwriting pickup.

"Looking ahead, we expect stronger private equity returns in the third quarter, particularly from our venture capital investments, supported by elevated IPO activity and higher public market valuations."

K WATCH B WATCH C WATCH

HIGH

13:00
May 07 ◎

MET FY2026 Q1 Watch

MetLife, Inc. (MET) FY2026 Q1 Earnings Call

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Rami Levy

Working-age mortality trends continue to improve, influenced by the pull-forward effect from COVID and the impact of GLP-1 drugs, which is benefiting the group life underwriting results. — This confirms the structural impact of GLP-1s on mortality, potentially reducing claims costs for insurers.

"Some include a pull-forward effect from a COVID perspective. Some include the impact of GLP-1 drugs and a lot of other pieces that we're researching and looking into."

NVO WATCH LLY WATCH

Michel Khalaf

Management's tone is confident, citing strong execution, broad-based growth, and reaffirming full-year guidance.

"This quarter's performance strengthens our confidence in the outlook we have shared and reinforces our belief that New Frontier is the right strategy at the right time."

MET WATCH

HIGH

14:00
Feb 05 ◎

MET FY2025 Q4 Watch

MetLife, Inc. (MET) FY2025 Q4 Earnings Call

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Rami

Management acknowledges awareness of Prudential's issues in Japan but deflects, implying no direct impact on MetLife's business; they remain optimistic about their own market position.

"Yeah, look, thanks for the question. We really don't have much to say about it. I mean, we're aware of the situation. We're very optimistic about our position in Japan..."

PRU WATCH

John McCallion

MetLife views its investment management relationship with Brighthouse as durable, expecting to continue working with the new combined firm; even in a worst-case scenario, the impact on MetLife's EPS would be modest.

"as you mentioned, Bright House, Bright House is a, you know, great relationship for us. We have a long history. We take pride in that. You know, we're excited to have the opportunity to work, you know, with the new combined firm..."

BHF WATCH

Michel Khalaf

Management expresses strong confidence in its 'New Frontier' strategy after a strong first year, with momentum expected to continue into 2026 with double-digit EPS growth and a target ROE of 15-17%.

"One year into New Frontier, it is clear we have the right strategy at the right time, focused on the right growth opportunities, and measuring ourselves against the right metrics."

MET WATCH

HIGH

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