
MetLife Sees 2011 Operating Net Up 38%
NEW YORK (
) --
MetLife
(MET) - Get Report
on Monday said it expects operating earnings in 2011 to increase 38% from 2010 to between $5.1 billion and $5.5 billion, or $4.75 to $5.15 a share.
MetLife, in a press statement, said it plans to grow premiums, fees and other revenues 30% in 2011 to between $45.8 billion and $47 billion.
The insurer also said it is positioned to deliver return on equity of 11% in 2011 and "generate further ROE improvements in the years that follow."
MetLife said it expects 2010 net income of $2.8 billion to $3.2 billion, or $3.13 to $3.57 a share, with premiums, fees and other revenues up 5% from 2009 to between $35.6 billion and $36 billion. Operating earnings in 2010 are expected to be between $3.8 billion and $3.9 billion,
For the fourth quarter, MetLife said it expects net income of between $170 million and $570 million, or 17 cents to 56 cents a share, compared with $289 million, or 35 cents a share, a year earlier.
The company sees operating earnings in the fourth quarter of between $1.1 billion and $1.2 billion, or $1.04 to $1.14 a share, up 39% from $793 million, or 96 cents a share, in the fourth quarter of 2009.
Analysts surveyed by Thomson Reuters expect MetLife to report earnings of $1.04 a share in the fourth quarter and $4.28 a share for 2010.
-- Written by Joseph Woelfel
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