By Kelly Cloonan
MetLife logged higher profit and revenue in the first quarter as premiums, fees and other revenue rose.
The insurer on Wednesday posted a profit of $945 million, or $1.28 a share, compared with $867 million, or $1.10 a share, a year earlier.
Adjusted earnings per share were $1.96, below estimates of $2 a share according to analysts polled by FactSet.
MetLife's quarterly revenue rose 16% to $18.57 billion. Analysts expected $18.37 billion.
Premiums, fees and other revenue rose 14% to $13.64 billion and book value per share rose 2% to $35.16.
Chief Executive Michel Khalaf said in a statement the company saw favorable underwriting, good volume growth and better variable investment in the quarter.
The company also authorized a $3 billion share buyback program, adding to the $360 million remaining under a similar-sized repurchase program announced last year.
The buyback reflects the company's all-weather performance, Khalaf said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 30, 2025 17:17 ET (21:17 GMT)
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