---
schema_version: "secwatch.filing_event.v1"
accession: "0001099219-22-000172"
form_type: "8-K"
ticker: "MET"
cik: "0001099219"
company_name: "METLIFE INC"
filed_at: "2022-11-02T23:59:59+00:00"
generated_at: "2026-06-22T11:53:52.857904+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# MetLife Q3 net income plunges 78% to $331M on negative variable investment income

## Summary
- Net income $331M ($0.41 EPS) vs $1.5B ($1.77) YoY; adjusted earnings $966M ($1.21) vs $2.1B ($2.39).
- Variable investment income post-tax negative $42M vs positive $1.4B a year ago, driven by negative private equity returns.
- Book value per share $27.00, down 65% YoY; book value ex-AOCI $54.37, down 5%.
- Holding company cash $5.2B above $3-4B target; $0.7B share repurchases in Q3, $0.2B in October.
- Direct expense ratio 12.3% in line with target; Group Benefits adjusted earnings rose to $399M (from $111M) on improved underwriting, while Asia fell to $174M.

## SEC filing metadata
- accession: 0001099219-22-000172
- form_type: 8-K
- ticker: MET
- cik: 0001099219
- company_name: METLIFE INC
- filed_at: 2022-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1099219/000109921922000172/0001099219-22-000172-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1099219/000109921922000172/met-20221102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001099219-22-000172
- JSON: https://secwatch.observer/filing/0001099219-22-000172.json
- Plain text: https://secwatch.observer/filing/0001099219-22-000172.txt

## Key facts
- Earnings Releases
  METLIFE INC reported financial results for Third Quarter 2022.
  - Period: Third Quarter 2022
  - Result: reported results
  source text: On November 2, 2022, MetLife, Inc. issued (i) a news release announcing its results for the quarter ended September 30, 2022 (the “Earnings Release”), a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference
  evidence_url: https://www.sec.gov/Archives/edgar/data/1099219/000109921922000172/0001099219-22-000172-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.