MetLife Net Falls 90% on Review of Annuities Slated for Exit

  • Operating profit of 83 cents a share misses analyst estimates
  • CEO Kandarian cites progress in plan to separate business

MetLife Inc., the largest U.S. life insurer, said second-quarter profit tumbled 90 percent on a review of the prospects of a variable-annuity business that Chief Executive Officer Steve Kandarian is seeking to exit. The stock declined in extended trading.

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