This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MetLife Announces Fourth Quarter & Full Year 2012 Results

Group, Voluntary & Worksite Benefits

Operating earnings for Group, Voluntary & Worksite Benefits were $167 million, down 30% due to a write-down of an intangible asset in the dental business and higher catastrophe losses. Premiums, fees & other revenues for Group, Voluntary & Worksite Benefits were $4.0 billion, up 8% due to favorable sales and persistency across the business, particularly in dental.

Corporate Benefit Funding

Operating earnings for Corporate Benefit Funding were $305 million, up 35% mostly due to strong interest margins and lower expenses. Premiums, fees & other revenues for Corporate Benefit Funding were $1.9 billion, up from $834 million due to the previously-mentioned conversion of a participating pension contract to a nonparticipating closeout during the quarter, as well as an increase in pension closeout sales.

Latin America

Operating earnings for Latin America were $148 million, up 20% (18% on a constant currency basis) due to business growth in several countries and a one-time tax-related benefit. Premiums, fees & other revenues in Latin America were $839 million, up 6% (4% on a constant currency basis). Total sales for the region increased 26%, driven by growth in Mexico, Chile, Brazil and Argentina.


Operating earnings for Asia were $198 million, down 24% as growth in the business, continued expense discipline and higher net investment income were offset by the negative impact of the annual review of actuarial assumptions. This annual review lowered operating earnings by $62 million, after tax, and mostly reflects changes in long-term lapse assumptions in Japan.

Premiums, fees & other revenues in Asia were $2.5 billion, up 11% (14% on a constant currency basis) due to strong revenue growth in Japan, Korea and Australia as well as improved persistency in Japan. Total sales for the region declined 4% as consistent sales in Japan and Korea were offset by declines in other countries.

4 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs