MetLife Q1 2025 Earnings, $10B Talcott Deal

MetLife reported first-quarter 2025 adjusted earnings of $1.35 billion, or $1.96 per share, marking a 7% increase in adjusted EPS year-over-year. Despite the EPS growth, the results missed analyst expectations by $0.08, though revenue of $18.57 billion surpassed estimates. The company announced a $10 billion variable annuity risk transfer agreement with Talcott Resolution and authorized a new $3 billion share buyback program. Group Benefits experienced strong growth, while international operations faced challenges, and investment income rose 3% due to higher interest rates and market volatility. MetLife's stock has lagged, falling nearly 7% year-to-date, and more negative than positive analyst EPS revisions have been issued recently. The company has launched a new five-year plan targeting growth in group benefits, international markets, and asset management.