MetLife has reported a net income of $942m in the third quarter of fiscal 2013, compared to a net loss of $984m in the same quarter a year ago.
Operating earnings for the quarter were $1.5bn, up 6%, compared to $1.42bn in the third quarter of fiscal 2012.
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The company’s operating earnings in the Americas increased by 7%, while in Asia the figure decreased by 1% on a reported basis and increased by 7% on a constant currency basis.
In Europe, the Middle East and Africa (EMEA), operating earnings were up 37% on a reported basis and 28% on a constant currency basis.
Total operating revenues were $16.9bn, up 2% from $16.61bn in Q3 2013.
MetLife chairman, president and chief executive officer Steven Kandarian said the company’s third quarter results reflect continued growth in emerging markets, solid performance in the US, and disciplined expense management.
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By GlobalData"We are supplementing strong organic growth in emerging markets with acquisitions such as Provida, the largest pension provider in Chile, which closed earlier this month.
"We continue to shift our business toward lower-risk, protection-oriented products as we focus on providing long-term value for our shareholders," Kandarian added.
