MetLife’s Improved PE Returns Lift Earnings Above Expectations
The Statue of Mercury stands in front of the MetLife Building in New York.
Photographer: Michael Nagle/BloombergMetLife Inc.’s first-quarter earnings surpassed Wall Street expectations, as the insurer continued to cash in higher gains from its private equity portfolio.
Variable investment income, which includes returns from MetLife’s private equity holdings, jumped 58% to $518 million in the three months through March, the insurer said in a statement Wednesday. The firm previously said it aimed to reach about $1.6 billion in variable investment income this year.