MetLife Reports $950 Million Net Income and $18.57 Billion Revenue in Q1 2025

MetLife, Inc. reported a net income of $950 million for the first quarter of 2025, an increase from $875 million in the same period last year. The company’s total revenues rose to $18.57 billion, up from $16.06 billion in the prior year, driven primarily by a 16.6% increase in premiums, which reached $11.72 billion compared to $10.05 billion in 2024. The growth in revenue was also supported by a favorable change in net derivative gains, which improved significantly from a loss of $979 million in 2024 to a gain of $432 million in the current quarter.

In terms of expenses, MetLife reported a total of $17.22 billion, up from $15.01 billion in the previous year. The increase was largely attributed to higher policyholder benefits and claims, which amounted to $11.95 billion, compared to $10.22 billion in the prior year. Additionally, interest credited to policyholder account balances decreased to $1.65 billion from $2.29 billion, reflecting changes in market conditions and product offerings. The company’s effective tax rate for the quarter was 30%, a notable increase from 16% in the same period last year, primarily due to higher foreign earnings taxed at elevated rates.

Strategically, MetLife is moving forward with its acquisition of PineBridge Investments, a global asset manager, for a total consideration of $1.2 billion, which includes performance-based earnouts. This acquisition is expected to close in the second half of 2025, pending regulatory approvals. Furthermore, the company announced the formation of Chariot Reinsurance, a life and annuity reinsurance company, in partnership with General Atlantic, which is anticipated to launch in the first half of 2025.

Operationally, MetLife's total assets increased to $688.32 billion as of March 31, 2025, compared to $677.46 billion at the end of 2024. The company’s employee headcount remained stable, with 671.3 million shares of common stock outstanding. The firm continues to focus on enhancing its market position through geographic expansion and product innovation, particularly in the Asia and Latin America segments, where it has seen strong sales growth.

Looking ahead, MetLife anticipates continued growth in its premium income and investment income, supported by favorable market conditions and strategic initiatives. However, the company remains cautious about potential economic uncertainties, including inflation and interest rate fluctuations, which could impact its financial performance.