MetLife (MET) investor relations material

Strategic priorities and progress

• New Frontier five-year strategy focuses on accelerating growth, strong returns, and recurring revenues, with progress ahead of schedule on EPS, ROE, and expense ratio targets.

• Four main priorities: Group Benefits growth, leveraging Retirement and Liability Origination, expanding asset management, and international market expansion.

• Achieved 10% EPS growth and 17% adjusted ROE, exceeding targets; direct expense ratio below target despite absorbing PineBridge acquisition.

• Nearly $5 billion in free cash flow delivered, with strong ongoing momentum and a repeatable, flexible business model supported by technology and AI.

Business mix and diversification

• Maintains a balanced 50/50 mix between capital-light (Group Benefits, Asset Management, LATAM, EMEA) and capital-driven (Retirement & Spread) businesses.

• Capital-driven businesses generate assets for investment management, fueling fee-based capital-light growth.

• Diversification across geographies, products, and distribution channels is a core strength.

Expense management and technology

• Focus on sustainable operating leverage, with revenues outpacing expenses and a cultural commitment to unit cost reduction.

• Absorbed PineBridge’s higher expense ratio without derailing targets; ongoing improvements in ROE driven by business mix and cost discipline.

• Technology, data strategy, and AI are driving productivity gains, changing workflows, and reducing unit costs.