Net investment income* was $5.2 billion, up 6% over the fourth quarter of 2011, reflecting variable investment income above the 2012 quarterly plan range by $80 million, or $0.07 per share, after tax and the impact of DAC.
Book value, excluding accumulated other comprehensive income (AOCI), was $46.73 per share, up from $46.69 per share in the fourth quarter of 2011.
Full Year Results
For the full year 2012, MetLife reported operating earnings of $5.7 billion, or $5.28 per share, up 22% over 2011. The increase reflects operating earnings growth of 24% in the Americas, 18% in Asia and 8% in EMEA.On a GAAP basis, MetLife reported full year 2012 net income of $1.2 billion, or $1.12 per share.
|FOURTH QUARTER & FULL YEAR 2012 SUMMARY|
|($ in millions, except per share data)||Three months ended December 31||Year ended December 31|
|Premiums, fees & other revenues||$||13,184||$||11,450||15%||$||47,879||$||45,449||5%|
|Total operating revenues||$||18,359||$||16,342||12%||$||68,351||$||65,087||5%|
|Net income (loss)||$||96||$||959||(90)%||$||1,202||$||6,155||(80)%|
|Net income (loss) per share||$||0.09||$||0.90||(90)%||$||1.12||$||5.76||(81)%|
|Operating earnings per share||$||1.25||$||1.17||7%||$||5.28||$||4.38||21%|
|Book value per share||$||57.17||$||52.43||9%|
|Book value per share, excluding AOCI||$||46.73||$||46.69||–|
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