MetLife Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>MetLife Inc. has filed its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

METLIFE INC (MET-PF) filed a Annual Report (10-K) with the SEC on February 16, 2024. MetLife Inc. filed its 2023 Form 10-K on February 16, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 200 Park Avenue, New York, NY 10166. MetLife Inc. is incorporated in Delaware. The Standard Industrial Classification code is 6311 (Life Insurance).

Why It Matters

For investors and stakeholders tracking METLIFE INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of MetLife's financial health, operational strategies, and risk factors for the past fiscal year, crucial for investors and stakeholders to assess the company's performance and future outlook. As a major player in the life insurance industry, MetLife's annual report offers insights into market trends, regulatory compliance, and the company's ability to navigate economic conditions, impacting the broader financial sector.

Risk Assessment

Risk Level: medium — METLIFE INC shows moderate risk based on this filing. The company operates in the highly regulated insurance industry, facing risks related to market volatility, interest rate changes, and evolving customer demands, which can impact financial performance.

Analyst Insight

Review the detailed financial statements and risk factor disclosures in the 10-K to understand MetLife's financial position and strategic priorities for the upcoming year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-16 — Filing Date (Filed as of date)
• 0001099219-24-000035 — Accession Number (Unique identifier for the filing)
• 001-15787 — SEC File Number (SEC's file number for the company)

Key Players & Entities

• METLIFE INC (company) — Filer name
• 200 PARK AVENUE (address) — Business and mailing address
• NEW YORK (location) — Business and mailing address city
• NY (location) — Business and mailing address state
• 10166 (postal_code) — Business and mailing address zip
• DE (location) — State of incorporation
• 6311 (sic_code) — Standard Industrial Classification
• 20231231 (date) — Fiscal year end

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-16: Filing Date — Date the 10-K was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document for investors to understand a company's financial health and operations over the past year.)

Fiscal Year End

The last day of a company's accounting year. (Indicates the period covered by the financial statements in the report.)

Key Financial Figures

• $0.01 M — ich registered Common Stock, par value $0.01 MET New York Stock Exchange Floating Rat
• $0.01 — ve Preferred Stock, Series D, par value $0.01 3.850% Fixed Rate Reset Non-Cumulative

Filing Documents

• met-20231231.htm (10-K) — 15138KB
• mlinc-12312023xex418.htm (EX-4.18) — 295KB
• exhibit1010metlifeperforma.htm (EX-10.10) — 18KB
• exh102116_auxiliaryretirem.htm (EX-10.21 16) — 6KB
• exh10249_auxiliarymatchpla.htm (EX-10.24 9) — 6KB
• exh10271_finalplanmpta14an.htm (EX-10.27 1) — 150KB
• exhibit211metlifeincsubsid.htm (EX-21.1) — 227KB
• mlinc-12312023xex231.htm (EX-23.1) — 3KB
• mlinc-12312023xex311.htm (EX-31.1) — 9KB
• mlinc-12312023xex312.htm (EX-31.2) — 9KB
• mlinc-12312023xex321.htm (EX-32.1) — 4KB
• mlinc-12312023xex322.htm (EX-32.2) — 3KB
• exhibit971metliferecoupmen.htm (EX-97.1) — 37KB
• met-20231231_g1.jpg (GRAPHIC) — 24KB
• met-20231231_g2.jpg (GRAPHIC) — 178KB
• metlife2a13.jpg (GRAPHIC) — 12KB
• 0001099219-24-000035.txt (&nbsp;) — 79617KB
• met-20231231.xsd (EX-101.SCH) — 233KB
• met-20231231_cal.xml (EX-101.CAL) — 172KB
• met-20231231_def.xml (EX-101.DEF) — 2004KB
• met-20231231_lab.xml (EX-101.LAB) — 2970KB
• met-20231231_pre.xml (EX-101.PRE) — 2592KB
• met-20231231_htm.xml (XML) — 20936KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 29 Item 1B. Unresolved Staff Comments 42 Item 1C. Cybersecurity 43 Item 2.

Properties

Properties 44 Item 3.

Legal Proceedings

Legal Proceedings 44 Item 4. Mine Safety Disclosures 44 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 45

Reserved

Item 6. Reserved 46 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 47 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 124 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 129 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 330 Item 9A.

Controls and Procedures

Controls and Procedures 330 Item 9B. Other Information 332

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 332 Part III Item 10. Directors, Executive Officers and Corporate Governance 332 Item 11.

Executive Compensation

Executive Compensation 333 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 333 Item 13. Certain Relationships and Related Transactions, and Director Independence 336 Item 14. Principal Accountant Fees and Services 337 Part IV Item 15. Exhibits and Financial Statement Schedules 338 Item 16. Form 10-K Summary 338 Exhibit Index 339

Signatures

Signatures 348 Table of Contents As used in this Form 10-K, "MetLife," the "Company," "we," "our" and "us" refer to MetLife, Inc., a Delaware corporation incorporated in 1999, its subsidiaries and affiliates. Note Regarding Forward-Looking Statements This Annual Report on Form 10K, including Management's Discussion and Analysis of Financial Condition and Results of Operations, may contain or incorporate by reference information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events and do not relate strictly to historical or current facts. They use words and terms such as "anticipate," "are confident," "assume," "believe," "continue," "could," "estimate," "expect," "if," "intend," "likely," "may," "plan," "potential," "project," "should," "will," "would" and other words and terms of similar meaning or that are otherwise tied to future periods or future performance, in each case in all derivative forms. They include statements relating to future actions, prospective services or products, future performance or results of current and anticipated services or products, future sales efforts, future expenses, the outcome of contingencies such as legal proceedings, and future trends in operations and financial results. Many factors determine Company results, and they involve unpredictable risks and uncertainties. Our forward-looking statements depend on our assumptions, our expectations, and our understanding of the economic environment, but they may be inaccurate and may change. We do not guarantee any future performance. Our results could differ materially from those we express or imply in forward-looking statements. The risks, uncertainties and other factors identified in MetLife, Inc.'s filings with the U.S. Securities and Exchange Commission, and others, may cause such differences. These factors include: (1)

Business

Item 1. Business Index to Business Page Business Overview & Strategy 5 Segments and Corporate & Other 6 Policyholder Liabilities 10 Underwriting and Pricing 11 Reinsurance Activity 12 Regulation 12 Competition 25 Human Capital Resources 26 Information About Our Executive Officers 27 Trademarks 28 Available Information 28 4 Table of Contents Business Overview & Strategy As used in this Form 10-K, "MetLife," the "Company," "we," "our" and "us" refer to MetLife, Inc., a Delaware corporation incorporated in 1999, its subsidiaries and affiliates. MetLife is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management. We hold leading market positions in the United States ("U.S."), Japan, Latin America, Asia, Europe and the Middle East. We are also one of the largest institutional investors in the U.S. with a general account portfolio invested primarily in fixed income securities (corporate, structured products, municipals, and government and agency) and mortgage loans, as well as real estate, real estate joint ventures, other limited partnerships and equity securities. Our well-recognized brand, globally diversified and market-leading businesses, competitive and innovative product offerings and financial strength and expertise should help drive future growth and enhance shareholder value. We will continue to execute on our Next Horizon strategy, creating value focusing on the following three pillars: Focus – Generate strong free cash flow by deploying capital and resources to the highest value opportunities. Simplify – Simplify our business to deliver operational efficiency and an outstanding customer experience. Differentiate – Drive competitive advantage through our brand, scale, talent, and innovation. In the fourth quarter of 2023, MetLife reorganized from five segments into the following six segments to reflect changes in management's responsi

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View this 10-K filing on SEC EDGAR