MetLife Files 8-K on Operations, Financial Condition

Ticker: MET-PF · Form: 8-K · Filed: Jan 31, 2024 · CIK: 1099219

Metlife Inc 8-K Filing Summary
FieldDetail
CompanyMetlife Inc (MET-PF)
Form Type8-K
Filed DateJan 31, 2024
Risk Levellow
Pages5
Reading Time6 min
Key Dollar Amounts$0.01 M, $5.2 billion, $3.0 billion, $4.0 billion, $20.0 billion
Sentimentneutral

Complexity: simple

Sentiment: neutral

Topics: financial-condition, operations, regulation-fd

Related Tickers: MET, MET PRA

TL;DR

**MetLife just dropped an 8-K on its financials, keep an eye on MET.**

AI Summary

MetLife, Inc. filed an 8-K on January 31, 2024, to report on its results of operations and financial condition, along with other events and Regulation FD disclosures. This filing is important for investors because it provides updated information on the company's financial health and operational performance, which can influence stock price and future investment decisions. The filing specifically mentions its Common Stock (MET), Series A Preferred Stock (MET PRA), Series E Preferred Stock, and Series F Preferred Stock, all traded on the New York Stock Exchange.

Why It Matters

This filing gives investors a fresh look at MetLife's financial performance and any significant operational changes, which directly impacts the perceived value and risk of their investment.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure of financial information and does not inherently signal high risk, though the content of the full filing could reveal underlying risks.

Analyst Insight

A smart investor would review the full content of the 8-K filing to understand the specific details of MetLife's financial condition and operational results, as this summary only covers the filing's stated purpose.

Key Players & Entities

  • METLIFE, INC. (company) — Registrant filing the 8-K
  • New York Stock Exchange (company) — Exchange where MetLife's securities are registered
  • $0.01 (dollar_amount) — Par value of Common Stock and Preferred Stock
  • January 31, 2024 (date) — Date of earliest event reported and filing date

FAQ

What is the purpose of MetLife's 8-K filing dated January 31, 2024?

The 8-K filing by MetLife, Inc. on January 31, 2024, is intended to report on its Results of Operations and Financial Condition, Regulation FD Disclosure, and Other Events, as stated in the 'ITEM INFORMATION' section of the filing.

What is the par value of MetLife's Common Stock and Preferred Stock mentioned in the filing?

The filing states that the Common Stock, par value, is $0.01, and the Floating Rate Non-Cumulative Preferred Stock, Series A, also has a par value of $0.01.

On which exchange are MetLife's Common Stock and Series A Preferred Stock registered?

Both MetLife's Common Stock (trading symbol MET) and its Floating Rate Non-Cumulative Preferred Stock, Series A (trading symbol MET PRA), are registered on the New York Stock Exchange.

What is MetLife, Inc.'s business address as listed in the filing?

MetLife, Inc.'s business address is 200 Park Avenue, New York, NY 10166-0188, with a business phone number of (212) 578-9500.

What is MetLife's Central Index Key (CIK) and SEC File Number?

MetLife, Inc.'s Central Index Key (CIK) is 0001099219, and its SEC File Number is 001-15787, as detailed in the 'FILER: COMPANY DATA' section.

Filing Stats: 1,486 words · 6 min read · ~5 pages · Grade level 10.8 · Accepted 2024-01-31 16:31:18

Key Financial Figures

  • $0.01 M — ich registered Common Stock, par value $0.01 MET New York Stock Exchange Floating Rat
  • $5.2 billion — arios. As of December 31, 2023, we had $5.2 billion of cash and liquid assets at the holdin
  • $3.0 billion — nies which is above the high end of our $3.0 billion to $4.0 billion holding company cash ta
  • $4.0 billion — ove the high end of our $3.0 billion to $4.0 billion holding company cash target. In 2024, w
  • $20.0 billion — eed our goals to generate approximately $20.0 billion of free cash flow and make available an
  • $1.0 billion — h flow and make available an additional $1.0 billion to invest in growth and innovation, ove

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On January 31, 2024, MetLife, Inc. issued (i) a news release announcing its results for the quarter and full year ended December 31, 2023 (the "Earnings Release"), a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference, (ii) a Quarterly Financial Supplement for the quarter ended December 31, 2023 (the "Quarterly Financial Supplement"), a copy of which is attached hereto as Exhibit 99.2 and is incorporated herein by reference and (iii) a fact sheet setting forth its total assets under management as of December 31, 2023 (the "Total AUM Fact Sheet"), a copy of which is attached hereto as Exhibit 99.3 and is incorporated herein by reference. The Earnings Release and the Quarterly Financial Supplement are furnished and not filed pursuant to instruction B.2 of Form 8-K. The foregoing description of the Total AUM Fact Sheet is not complete and is qualified in its entirety by reference to the Total AUM Fact Sheet, which is filed as Exhibit 99.3.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On January 31, 2024, MetLife, Inc. issued a supplemental slide presentation for the quarter and full year ended December 31, 2023, as well as outlook information (the "Supplemental Slides"), a copy of which is attached hereto as Exhibit 99.4 and is incorporated herein by reference. The slides highlight information in MetLife, Inc.'s Earnings Release and Quarterly Financial Supplement and provide outlook information, as well as other prior public disclosures. The Supplemental Slides are furnished and not filed pursuant to instruction B.2 of Form 8-K.

01 Other Events

Item 8.01 Other Events. The text of Item 2.02 above with respect to the Total AUM Fact Sheet is incorporated herein by reference. As used herein, "MetLife," "we," and "our" refer to MetLife, Inc., a Delaware corporation incorporated in 1999, its subsidiaries and affiliates. Consolidated Company Outlook Our outlook reflects continued uncertainty around inflation and unemployment in 2024. We expect the U.S. dollar to stabilize around current levels. Based on the forward yield curve as of December 31, 2023, we expect long-term interest rates to remain largely unchanged in 2024 with the yield curve steepening, as short-term interest rates decline. We believe that our investment portfolio is highly diversified and positioned to perform well in a variety of economic scenarios. As of December 31, 2023, we had $5.2 billion of cash and liquid assets at the holding companies which is above the high end of our $3.0 billion to $4.0 billion holding company cash target. In 2024, we expect to maintain this holding company cash target. Our continued capital stress testing and longstanding commitment to liquidity position us to withstand a variety of economic conditions. We do not expect any material liquidity deficiencies, and we expect to remain able to comply with the financial covenants of our credit agreements. Assuming (i) interest rates following the observable forward yield curves as of December 31, 2023, including a 10-year U.S. Treasury rate of 3.84% at December 31, 2024, (ii) S&P 500 equity index annual return of 5% over the near-term, and (iii) private equity annual returns between 7% to 10% over the near-term which is below our long-term historical returns of 12% and assumes continued pressure in the first quarter of 2024 before trending higher; we expect to maintain the two-year average annual ratio of free cash flow to adjusted earnings, excluding total notable items, at 65% to 75%. Further, based on the aforementioned assumptions, we are maintaining our targ

Forward-Looking Statements

Forward-Looking Statements The forward-looking statements in this Item 8.01 of MetLife, Inc.'s Current Report on Form 8-K, which contain words 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, are based on assumptions and expectations that involve risks and uncertainties, including the "Risk Factors" MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife, Inc.'s future results could differ, and it does not undertake any obligation to publicly correct or update any forward-looking statement if MetLife, Inc. later becomes aware that such statement is not likely to be achieved. We refer to observable forward yield curves as of a particular date in connection with making our estimates for future results. The obse rvable forward yield curves at a given time are based on implied future interest rates along a range of interest rate durations. This includes the 10-year U.S. Treasury rate which we use as a benchmark rate to describe longer-term interest rates used in our estimates for future results. 3

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. 99.1 News release of MetLife, Inc., dated January 31, 2024, announcing its results for the quarter and full year ended December 31, 2023 99.2 Quarterly Financial Supplement for the quarter ended December 31, 2023 99.3 Total AUM Fact Sheet as of December 31, 2023 99.4 Supplemental Slides for the quarter and full year ended December 31, 2023 and Outlook 101 Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101) 4

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. METLIFE, INC. By: /s/ Tamara L. Schock Name: Tamara L. Schock Title: Executive Vice President and Chief Accounting Officer Date: January 31, 2024 5

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