- Key commitments to deliver on by 2016: 1) Shift from market-sensitive products (variable annuities) to improve risk profile; 2) Grow emerging markets to 20% of operating earnings; 3) $1B in gross expense savings; 4) Increase operating ROE to 12-14%.
- Going through these, MetLife (MET +0.5%) CEO Kandarian notes VA sales were just $10.6B in 2013 vs. $28.4B in 2011, while GVWB sales rose to $1.3B from $1B; operating earnings growth from EM has been 11% compounded since 2011 and hit $894M last year; $1B in savings by year-end 2015 have been identified; and operating earnings have gained 16% annually since 2011. with operating ROE rising to 11.9% from 10%.
- Webcast and presentation slides
- Previously: Wait is over: MetLife announces $1B buyback
From other sites
at CNBC.com (Feb 27, 2015)
at Zacks.com (Feb 26, 2015)
at Nasdaq.com (Feb 23, 2015)
at CNBC.com (Feb 17, 2015)
at Nasdaq.com (Feb 3, 2015)
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