METLIFE INC FILES (8-K) Disclosing Results of Operations and Financial Condition, Regulation FD Disclosure, Other Events, Financial Statements and Exhibits

Item 2.02 Results of Operations and Financial Condition.

On February 1, 2023, MetLife, Inc. issued (i) a news release announcing its
results for the quarter and full year ended December 31, 2022 (the "Earnings
Release"), a copy of which is attached hereto as Exhibit 99.1 and is
incorporated herein by reference, and (ii) a Quarterly Financial Supplement for
the quarter ended December 31, 2022 (the "Quarterly Financial Supplement"), a
copy of which is attached hereto as Exhibit 99.2 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.

Item 7.01 Regulation FD Disclosure.
On February 1, 2023, MetLife, Inc. issued a supplemental slide presentation for
the quarter and full year ended December 31, 2022, as well as outlook
information (the "Supplemental Slides"), a copy of which is attached hereto as
Exhibit 99.3 and is incorporated herein by reference. The slides highlight
information in MetLife, Inc.'s Earnings Release and Quarterly Financial
Supplement and provide outlook information. The Supplemental Slides are
furnished and not filed pursuant to instruction B.2 of Form 8-K.

Item 8.01 Other Events.

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 the impacts of the adoption of targeted improvements to the
accounting for long-duration contracts ("LDTI"). We assume COVID-19 to be
endemic consistent with the recent trends that we have been experiencing. We
expect continued uncertainty to persist around inflation and a potential
recession.

We expect interest rates to remain elevated relative to December 31, 2022. We
believe that our investment portfolio is highly diversified and positioned to
perform well in a variety of economic scenarios.

As of December 31, 2022, we had $5.4 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 2023, 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. We will continue reviewing
accounting estimates, asset valuations and various financial scenarios for
capital and liquidity implications.

Assuming (i) interest rates following the observable forward yield curves as of
December 31, 2022, including a 10-year U.S. Treasury rate of 3.88% at December
31, 2022, and 3.84% at December 31, 2023, (ii) S&P 500 equity index annual
return of 5% over the near-term, and (iii) private equity annual returns of 12%
over the near-term consistent with historical long-term averages; 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, the growing impact of our mix
of business and higher new business returns over the last several years, as well
as the impact of LDTI, we are increasing our target for adjusted return on
equity, excluding accumulated other comprehensive income ("AOCI") other than
foreign currency translation adjustments ("FCTA"), to 13% to 15% over the
near-term. Lastly, we expect to exceed our goals to generate approximately $20.0
billion of free cash flow and make available an additional $1.0 billion to
invest in growth and innovation, over the time period of 2020 through 2024.

Our full year direct expense ratio target, excluding total notable items related
to direct expenses and pension risk transfers, is 12.6% over the near-term. This
increase from the previous target of 12.3% reflects a reduction in adjusted
premiums, fees and other revenues, excluding pension risk transfers, due to the
impact of the adoption of LDTI. Since this change in accounting will be applied
retrospectively to January 1, 2021, our previously reported direct expense
ratios will likewise be re-calibrated to put 2021 and 2022 on the same basis as
2023 and beyond.

Our outlook relies on the accuracy of our assumptions about future economic and
business conditions, which can be affected by known and unknown risks,
uncertainties and other factors. We continually review our assumptions,
implement mitigation plans, and take precautions. We may revise our outlook as
we obtain more information regarding economic conditions, regulatory changes,
and other events, and the impact of these events on our business operations,
investment portfolio, derivatives, financial results and financial condition.

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," "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

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future periods or future performance, 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's
future results could differ, and it does not undertake any obligation to
publicly correct or update any forward-looking statement if MetLife 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 observable 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.

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Item 9.01 Financial Statements and Exhibits.

  99.1         News release of MetLife, Inc., dated February 1, 2023, announcing its results
             for the quarter and full year ended December 31, 2022


  99.2         Quarterly Financial Supplement for the quarter ended December 31, 2022


  99.3         Supplemental Slides for the quarter and full year ended December 31, 2022 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)


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