MetLife reported a strong Q1 2026, with EPS up 23%, driven by broad-based growth across all segments, favorable underwriting, and higher variable investment income. Management maintained a confident outlook, reiterating full-year guidance for RIS while highlighting progress on the PineBridge integration and robust sales momentum in Asia. Adjusted EPS of $2.42, up 23% YoY, and adjusted ROE of 17% at the top end of the target range.
MetLife reported a strong Q1 2026, with EPS up 23%, driven by broad-based growth across all segments, favorable underwriting, and higher variable investment income. Management maintained a confident outlook, reiterating full-year guidance for RIS while highlighting progress on the PineBridge integration and robust sales momentum in Asia. Adjusted EPS of $2.42, up 23% YoY, and adjusted ROE of 17% at the top end of the target range.
MetLife reported a strong Q1 2026, with EPS up 23%, driven by broad-based growth across all segments, favorable underwriting, and higher variable investment income. Management maintained a confident outlook, reiterating full-year guidance for RIS while highlighting progress on…
Adjusted EPS of $2.42, up 23% YoY, and adjusted ROE of 17% at the top end of the target range.
Group benefits results benefited from favorable life mortality (80.1% ratio), but non-medical health was above target due to dental seasonality and paid family leave incidence.
Asia sales up 22% constant currency, driven by strong growth in Japan and Korea.
Management highlighted AI as a key driver of growth and efficiency, noting over $3.2 billion invested in technology over five years and that AI adoption is reducing complexity and costs while improving customer service and decision-making.
Management's tone is confident, citing strong execution, broad-based growth, and reaffirming full-year guidance.
Management underscored strong results and expressed confidence in their strategy, citing broad-based growth, resilient margins, and disciplined capital deployment.
“As we've seen signs of improvement in the private equity secondary markets, we opportunistically divested roughly $750 million of private equity assets at the end of Q1 at a modest discount.”
“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.”
“most of our venture capital exposure of $3.5 billion is skewed towards AI firms... our venture capital portfolio generated a 6.8% return this quarter.”
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.
MetLife's venture capital portfolio generated a strong 6.8% return in Q1, heavily skewed towards AI firms, and the company is not concerned about its software exposure.