MetLife Downplays Concern Over Commercial Real Estate
- Insurer says excess capital is earmarked for shareholders
- Any deals would have to fit into MetLife’s current strategy
The stock has struggled this year, with a -7.8% total return through Monday that trailed the S&P 500 and financial sector benchmarks by wide margins.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
MetLife Inc., the biggest US life insurer, downplayed concerns about the faltering commercial real estate market amid signs that occupancy is starting to recover.
The company is seeing employers “start to revert back to some level of in-office,” giving a boost to the outlook, Chief Financial Officer John McCallion said Tuesday at an investment conference sponsored by Goldman Sachs Group Inc. “Overall, we think quality will win out in every class in real estate.”