Highlights

  • Second quarter 2026 net income available to common shareholders was $705 million, or $1.09 per diluted share.
  • Non-GAAP adjusted earnings available to common shareholders rose to $1,573 million from $1,362 million a year earlier.
  • The board authorized $3.0 billion more in repurchases on August 5, after $1.5 billion of first-half buybacks.
  • MetLife agreed to sell MetLife Ukraine, recording a $65 million after-tax impairment, with closing expected in 2027.

MetLife, Inc. (NYSE:MET) shares were trading near their 52-week high at USD 102.35 on October 21, 2026, up 1.15%. The life insurance and asset management group issued $1.0 billion of subordinated debentures in February, agreed in the second quarter to sell its Ukraine unit, and filed its second quarter 2026 report on August 6, a day after announcing a new $3.0 billion repurchase authorization.

Based in New York, MetLife is a Delaware corporation incorporated in 1999 and describes itself as one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management. Following a fourth quarter 2025 reorganization, it reports six segments: Group Benefits; Retirement and Income Solutions; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Investment Management, its institutional asset management arm. Corporate & Other holds remaining operations. Its fiscal year ends December 31.

Earnings Edge Higher as Adjusted Results Climb

Total revenues for the three months ended June 30, 2026 were $19.15 billion, up from $17.34 billion. Net income available to common shareholders was $705 million against $698 million, and diluted earnings per share were $1.09 versus $1.03. Higher adjusted earnings were largely offset by net investment losses of $428 million and net derivative losses of $772 million.

Non-GAAP adjusted earnings available to common shareholders reached $1,573 million, compared with $1,362 million. Group Benefits led with $503 million, helped by favorable mortality results, followed by Asia at $420 million and Retirement and Income Solutions at $377 million. Corporate & Other was a loss of $160 million. Adjusted premiums, fees and other revenues grew 6% to $13.52 billion.

For six months, net income available to common shareholders was $1.85 billion, or $2.83 per diluted share, up from $1.58 billion, or $2.32. Adjusted earnings were $3.16 billion against $2.71 billion.

PineBridge, the Ukraine Sale and Capital Returns

MetLife completed its acquisition of PineBridge Investments in the fourth quarter of 2025 for preliminary purchase consideration of $885 million, subject to adjustment over a measurement period of up to one year. PineBridge lifted other revenues in the investment management segment by $80 million, or 34%, in the quarter, alongside organic growth in public and private fixed income.

In the second quarter, the company signed a definitive agreement to sell PJSC MetLife, its Ukraine subsidiary, and recorded an impairment loss of $65 million net of tax within net investment gains and losses. Closing is expected in 2027 and depends on regulatory approvals and other conditions.

In the first half, MetLife repurchased 18.8 million common shares for $1.5 billion and paid $755 million of common and $76 million of preferred dividends. The board declared a second quarter common dividend of $0.593 per share. About $622 million remained under the prior authorization at June 30, before the August 5 addition of $3.0 billion. In February, the company issued $1.0 billion of 5.850% subordinated debentures due March 2056. Subordinated debt securities stood at $5.14 billion at June 30, and long-term debt at $14.24 billion. Cash and cash equivalents were $19.3 billion, down from $22.0 billion at year-end.

Outlook and Items to Watch

The report contains no earnings guidance. It points to the expected 2027 close of the Ukraine sale and the additional $3.0 billion repurchase authorization, noting that buybacks remain subject to board discretion and factors such as capital position and market conditions.

Management said its results remain sensitive to financial markets and interest rates, which affect investment income, insurance liabilities, derivatives and the value of assets under management it earns fees on. It said it is monitoring inflation, tariffs and geopolitical developments, and that U.S. monetary policy adjustments could come later this year. These are company statements about risks and plans.