MetLife Operating Profit Rises 47% After Asia Expansion
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MetLife Inc., the largest U.S. life insurer, said operating profit rose 47 percent in the third quarter as the firm’s Asian businesses expanded.
Operating profit climbed to $1.42 billion, or $1.32 a share, from $965 million, or 91 cents, a year earlier, the New York-based company said today in a statement. Earnings beat the average estimate of $1.28 a share from 17 analysts polled by Bloomberg. The company took a $1.6 billion impairment on its retail annuity business, driving a net loss of $954 million.