NEW YORK (AP) — MetLife Inc. says its net income increased tenfold in the third quarter, boosted largely by its acquisition of Alico last year.
The nation's biggest life insurer says it earned $3.55 billion, or $3.33 per share, in the three months ended Sept. 30. That's compared with $286 million, or 32 cents per share, in the year-ago period.
Excluding one-time items, the company earned $1.11 per share. Analysts had forecast a profit of $1.05 per share, according to FactSet.
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The New York company said total international sales more than doubled as a result of its acquisition of American Life Insurance, or Alico, from American International Group Inc. last year.
Alico operates in more than 50 countries and was expected to help MetLife expand in Japan, Europe and Latin America.
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