secwatch.observer — SEC 8-K summary
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Issuer:     METLIFE INC (MET)
CIK:        0001099219
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0001099219-22-000172
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1099219/000109921922000172/0001099219-22-000172-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1099219/000109921922000172/met-20221102.htm
  HTML page:      https://secwatch.observer/filing/0001099219-22-000172

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