MetLife has announced positive second quarter
results, with operating earnings of $1.43bn in Q2 2012,  up
18.18% from $1.21bn in Q2 2011.

The insurer reported net income of $2.3bn in
Q2 2012 more than double compared to $1.1bn in the same period last

This net income included net derivative gains
of $1.4bn, after tax, largely due to falls in interest rates and
the impact of MetLife’s credit spreads during the quarter.

Premiums, fees and other revenues generated
$11.6bn for MetLife in Q2 2012 compared to $11.63bn in Q2 2011.

MetLife said operating earnings for Asia were
$275m, in Q2 2012, up 61% primarily due to growth in the business
in Japan and strong net investment income.

Growth in Japan and Australia

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Premiums, fees and other revenues in Asia were
$2.3bn, in the second quarter of this year, up 6% due to business
growth in Japan and Australia, as well as improved persistency in
both Japan and Korea.

Total sales for the region grew 13%, in Q2
2012 fuelled by higher life sales in Japan, increased accident and
health sales in China and growth in group sales in Australia.

MetLife’s total operating earnings for the
Americas increased 11% to $1.1bn in Q2 2012 propelled by earnings
growth in retail as well as group, voluntary and worksite

Steven A. Kandarian, MetLife’s chairman,
president and CEO, said: “MetLife continued to perform well in the
second quarter particularly given the current environment”.

He continued: “Our story is clear – consistent
execution on the fundamentals of the business. Our underwriting
discipline is paying off, our investment income and core spreads
are healthy, and we’re successfully managing through the
low-interest-rate environment.”