Search
 

MetLife profit doubles as derivatives lift insurer

MetLife Inc. said on Wednesday that its second-quarter earnings more than doubled, topping Wall Street's expectations, as the insurer recorded a $1.4 billion one-time gain from a derivatives bet that interest rates would fall.

NEW YORK (AP) — MetLife Inc. said on Wednesday that its second-quarter earnings more than doubled, topping Wall Street’s expectations, as the insurer recorded a $1.4 billion one-time gain from a derivatives bet that interest rates would fall.

The New York-based company reported net income of $2.26 billion, or $2.12 per share, for the three months ended June 30. That was up from earnings of $1.07 billion, or $1 per share, in the same quarter a year ago.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Peter Westerman

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.