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MetLife swings to profit in Q3

MetLife has reported a net income available to common shareholders of $286m, or $0.32 per diluted share, for the third quarter of 2010, compared to loss of $650m, or $0.79 per diluted share, for the same period of 2009.

The total operating revenues for the third quarter of 2010 were $12.97bn compared to $12.41bn for the same period of 2009.

Operating earnings were $878m for the third quarter of 2010, compared to $718m for the corresponding period of the previous year.

Premiums, fees & other revenues for the third quarter of the 2010 was $8.64bn, compared to $8.46bn in the same quarter a year ago.

MetLife chairman, president and CEO Robert Henrikson said, MetLife has delivered another strong quarter as the company grew its top line and also increased operating earnings 22% over the third quarter of 2009.

“In addition to benefiting from improved net investment income this quarter, our focus on disciplined growth and strong underwriting contributed to the earnings increase we reported,” Henrikson said.