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MetLife posts bigger quarterly profit

MetLife Inc., the largest U.S. life insurer, said Tuesday its profit climbed in the fourth quarter on higher premium revenue and gains from derivatives.

By Associated Press | Updated on February 14, 2012

NEW YORK (AP) — MetLife Inc., the largest U.S. life insurer, said Tuesday its profit climbed in the fourth quarter on higher premium revenue and gains from derivatives.

MetLife earned $1.13 billion, or $1.06 per share, in the latest quarter. The company took more than $1 billion in losses on derivatives in the fourth quarter of 2010, and reported a profit of $51 million, or 5 cents per share. Excluding one-time items, MetLife reported an operating profit of $1.31 per share in the latest quarter. Its total revenue grew 32 percent, to $16.75 billion from $12.69 billion.

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