Metlife Inc

Strong First Quarter Results: MetLife reported adjusted earnings of $1.3 billion or $1.96 per share, reflecting a 7% year-over-year increase. The group's benefits business showed robust performance with adjusted earnings up 29% to $367 million due to favorable life underwriting margins and lower mortality notably among the working-age population.

Adjustments in Capital Management: The company returned approximately $1.8 billion to shareholders through dividends and share repurchases in Q1 2025, including a $400 million dividend and a $1.4 billion share buyback. The Board increased the common dividend per share by 4.1%, highlighting financial strength and a continued commitment to returning excess capital to shareholders.

Risk Transfer Strategy: MetLife announced a significant risk transfer deal with Talcott Resolution Life Insurance Company, reinsuring about $10 billion of retail variable annuity and rider reserves. This move aims to reduce exposure to high tail risk and capital requirements, albeit it is expected to lower adjusted earnings by around $100 million annually, offset by approximately $45 million in hedge cost savings.