Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

MetLife reports Q1 2014 net income of $1.3bn

US-based life insurance company MetLife has reported a net income of $1.3bn, for the first quarter of 2014, compared to $956m during the corresponding period last fiscal.

For the quarter period ended on 31 March 2014, its total operating revenues were $17.12bn, while Premiums, fees & other revenues were $12bn, up 2% over the first quarter of 2013.

MetLife chairman, president and CEO Steven Kandarian said: "While our legal settlement with New York had an impact on earnings, strong investment income and significant cost savings helped the bottom line.

"MetLife’s commitment to enhancing long-term shareholder value was demonstrated by the recently announced 27 percent increase in our common stock dividend."

Total operating earnings for the Americas stood at $1.3bn, up by 3%, driven by corporate benefit funding and Latin America.

Operating earnings for Asia were $328m, down 2% on a reported basis, while operating earnings for EMEA were $88m, up 1% on a reported basis, and 2% on a constant currency basis.