4Q24 Investor Presentation
4Q24 Investor Presentation
Market-leading, diversified global insurer
Growing and established markets around the world
Diversified by Geography and Business
156 years of operation
~45,000 employees
More than 40 markets served
Top established markets:
$596.9 billion
Total Assets Under Management (AUM)2
Market capitalization3
Stock price3
2024 Adjusted Earnings5,6
Holdings7
10%
25%
Retirement
& Income
Solutions
Top emerging markets:
15.2%
Adjusted Retuon Equity (ROE)4
23%
billion Latin
America
13%
60 on the 2024 Fortune 500® list
Capital returned in 2024
Share repurchases
Common stock dividends
Group
Benefits
|
25% |
EMEA8 |
|
4% |
1 As of 12/31/2024, unless otherwise noted. 2 As 12/31/2024. At estimated fair value. Includes all assets managed by
|
and certain ceded reinsurance-related embedded derivatives. 5 As of 12/31/2024. Excludes Corporate & Other losses of |
2 |
|
Holdings is a legacy business. 8 |
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The power of our business1
Trusted global brand
|
~120M |
90+ |
|
customers |
of Fortune 100 |
|
companies2 |
|
|
40+ |
~80% |
|
markets |
covering world |
|
premiums3 |
|
Diversified & resilient
Delivered across economic cycles
for over 150 years
|
|
||
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Holdings |
||
|
10% |
|
|
|
25% |
||
|
Retirement |
|
|
|
Solutions |
||
|
& Income |
||
|
23% |
Adjusted Earnings |
|
|
20244 |
Latin |
|
|
America |
||
|
13% |
GroupEMEA
Benefits4%
25%
Leader in attractive markets
|
#1 |
#1 |
|
US Group Benefit |
Life insurer in |
|
provider5 |
|
|
Top 2 |
#3 |
|
US Retirement |
Multinational |
|
Business markets7 |
insurer in |
- As of 12/31/2024, unless otherwise indicated.2
MetLife Book of Business analysis (2024). 3MetLife presence in countries representing ~80% of world GWP.MetLife internal analysis based on Swiss Re Sri Sigma report No. 3/2024.
- Excludes Corporate & Other losses of
$919 million .5 Based on PFOs.MetLife internal analysis of in-force, industry market data self-reported to LIMRA (2023). 6 Based on GWP.Latino Insurance (2023). 7 Based on (i) sales of PRT,
|
Structured Settlements, and Institutional Income Annuities as of 2Q2024 (LIMRA Secure Retirement Institute®); (ii) sales of COLI as of 2Q2024 ( |
3 |
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and Capital Markets as of 2Q2024 ( |
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At a glance
Diversified set of businesses and product offerings
Group Benefits
Retirement &
Income Solutions
|
|
|
EMEA
Provides financial products and services to 94 of the top 100 Fortune 500® and over 80% of all Fortune 500® companies
Serving more than 55,000
group customers and
50 million
and their dependents
Product offerings:
Life, Dental, Disability, Accidental
Death & Dismemberment (AD&D),
Vision, Accident & Health,
Legal Plans, Pet
Largest non-medical,
commercial carrier in the
Provides funding and financing solutions that help institutional customers mitigate and manage liabilities
Generates a combination of
spread, fee-based earnings,
and underwriting
Broad set of market leading
businesses:
Stable Value,
Pension Risk Transfer (PRT),
Structured Settlements,
Institutional Income Annuities,
Risk Solutions1, and Capital Markets
Investments Products (CMIP)
Diverse set of product offerings: protection, health and savings products to ~19 million customers
in 8 markets
second largest market Leading foreign insurer in
Building presence in growth markets:
#3 multinational insurer in the region2
180 bank partners around the region
57,000 career agents and
239,000 general agents
Serving almost 30 million customers
across
#1 life insurer in
presence in
Diverse set of product offerings:
life insurance, retirement,
savings, personal accident and
health products
Well-diversified distribution,
positioned to capture growth opportunities
EMEA is
region, with a presence in
23 markets across
3 different continents
EMEA is divided into 4 geographies:
and
Leading provider of
Strong presence across face- to-face distribution networks:
Over 4,000 captive agents Circa 1,400 brokers and 3rd party networks
|
1 Includes Longevity Reinsurance and Benefit Funding Solutions. 2 Based on gross written premiums (GWP) 2023. |
3 AMIS (Asociación |
4 AACH (Asociación de Aseguradoras |
4 |
de
Beat all of our Next Horizon commitments
Accretive
Returns
Deliver 12-14% Adjusted ROE1
15.2%3
FY 2024
Strong Free
Cash Flow
Generate
2020-2024
Positive Operating
Leverage
Create
2020-2024
|
1 Excluding total notable items. Next Horizon target of 12-14% communicated at 2019 Investor Day, was updated to 13-15% in 4Q2022 earnings call. 2 Represents free cash flow of all holding companies. 3 Beginning with fourth |
5 |
|
quarter and full year 2024 results and going forward, "adjusted ROE" refers to retuon equity, excluding AOCI other than FCTA and certain ceded reinsurance-related embedded derivatives. |
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NEW FRONTIER Commitments
|
STRONG |
ATTRACTIVE |
ALL-WEATHER |
|
GROWTH |
RETURNS |
PERFORMANCE |
Double-digit
Adjusted EPS Growth
from 6%1
15-17%
Adjusted ROE
from 12-14%2
-100bps
Direct Expense Ratio
from 12.3%3
$25B+
Free Cash Flow4
from
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Note: All New Frontier 2024-2029 commitments are shown as compared to Next Horizon commitments made at Investor Day 2019, except as otherwise indicated. 1 Not a Next Horizon commitment. Adjusted EPS growth of 6% |
|
|
from 2019 to 2024, includes annualized results for 2024 based on 3Q2024 YTD. 2 Next Horizon target of 12-14% communicated at Investor Day 2019, was updated to 13-15% in 4Q2022 earnings call. 3 Direct expense ratio |
6 |
|
target communicated at Investor Day 2019 (adjusted for LDTI approximately +30bps), was updated to 12.3% in 4Q2023 earnings call. 4 Represents free cash flow of all holding companies. |
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Powerful macro trends driving New Frontier opportunities
|
Global demographic shifts |
…fueling retirement, health & protection needs |
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Democratization of |
…expanding our addressable market |
|
financial services |
|
|
AI reshaping customer |
…advantaging scaled players investing in technology for growth & efficiency |
|
expectations |
|
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Convergence of asset |
…creating greater opportunity for integrated business models |
|
management & insurance |
|
|
Higher interest rates |
…increasing the attractiveness of fixed rate products |
7
New Frontier strategic priorities
- Extend leadership inGroup Benefits
- Capitalize on uniqueretirement platform
- Accelerate growth inasset management
- Expand in high growth international markets
Power of
SCALE
Strategic
DIVERSIFICATION
Distribution
INNOVATION
Cutting-edge
TECHNOLOGY
8
NEW FRONTIER
In highly attractive
markets
With deep
competitive moats
Poised to capitalize on strong tailwinds
Growth, attractive returns, lower risk
9
Financial Overview
Attachments
Disclaimer
Business Combination Prospectus (Form 425)
The Hartford at UBS Financial Services Conference 2025 (Transcript)
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