U.S. insurer MetLife Inc on Wednesday posted a 43per cent drop in quarterly adjusted earnings, spurred by declining premium income and private ...
REUTERS: US insurer MetLife on Wednesday posted a 43 per cent drop in quarterly adjusted earnings, spurred by declining premium income and private equity investment losses.
MetLife's net investment income was US$4.1 billion, down 13 per cent from US$4.7 billion a year ago. The decline was driven by a loss in variable investment income, reflecting a reporting lag from the first quarter for private equity results."The decline in our private equity portfolio was squarely within our expectations," MetLife Chief Executive Officer Michel Khalaf said in a statement.
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