Feb 4 (Reuters) - MetLife MET.N reported a rise in fourth-quarter adjusted profit on Wednesday, as the insurer was helped by a stronger return on its investment portfolio.

A strong market in the last three months of 2025, on the back of the U.S. Federal Reserve's rate cuts, boosted investment returns at insurers such as MetLife, which also reported higher private equity returns.

MetLife's net investment income came in at $5.92 billion during the quarter, up from $5.41 billion a year ago.

The company also cited strong volume growth and improved expense margins as drivers of its profit rise.

Strong consumer spending trends and disciplined premium pricing by the life and health insurance firms also helped support demand for policies in the last quarter of 2025.

Adjusted premiums, fees and other revenues rose 29% in the quarter to $18.61 billion.

Its adjusted earnings available to common shareholders came in at $1.65 billion, or $2.49 per share, in the three months ended December 31. That compares with $1.46 billion, or $2.09 per share, a year earlier, on a constant currency basis.

Founded in 1868, MetLife is one of the largest U.S. life insurers, offering a range of insurance, annuities and employee benefit programs in more than 40 markets globally.

Shares of the company lost 3.6% in 2025, underperforming the broader market.

(Reporting by Pritam Biswas in Bengaluru; Editing by Vijay Kishore)

((Pritam.Biswas@thomsonreuters.com;))