NEW YORK (AP) — MetLife Inc. expects to report higher operating earnings for 2011 that nevertheless would be short of analysts' expectations as the insurance industry dealt with numerous challenges during the year.
The nation's biggest life insurer said Monday that it anticipates 2011 operating earnings of $4.83 to $4.93 per share. That would be up from $4.43 per share in 2010.
Premiums, fees and other revenue are expected to rise 32 percent to $46.3 billion and $46.8 billion from $35.2 billion in 2010.
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Analysts surveyed by FactSet predict adjusted earnings of $4.95 per share for 2011.
President, CEO and Chairman-elect Steven Kandarian said in a statement that the insurance industry faced some difficulties in 2011, including economic volatility, several natural disasters and an uncertain regulatory environment.
MetLife expects fourth-quarter operating earnings of $1.16 to $1.26 per share. Wall Street expects earnings of $1.28 per share.
For 2012, MetLife expects operating earnings of $4.80 to $5.20 per share, with premiums, fees and other revenue up 5 percent to $47.3 billion to $48.6 billion.
Analysts forecast 2012 earnings of $5.12 per share.
MetLife's stock gained $1.04, or 3.3 percent, to $32.80 in premarket trading.
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