Reported 27 days ago
MetLife Inc. announced a decrease in third-quarter adjusted profits, primarily attributed to underperformance in its group benefits business, resulting in a 5.5% drop in shares. Adjusted earnings from this sector, which includes various insurance options, fell by 27% compared to the previous year. The downturn was linked to annual actuarial reviews and softer non-medical health underwriting. Despite this, the company's adjusted net investment income increased by 8% due to higher interest rates, with adjusted earnings available to common shareholders also declining.
Source: YAHOO