MetLife’s Retirement and Income Solutions business generated a 19% increase in adjusted premiums, fees and other revenues excluding pension risk transfers during the second quarter of 2026, driven primarily by growth in U.K. longevity reinsurance and structured settlement sales.
Adjusted PFOs excluding PRT increased to approximately $1.26 billion from $1.05 billion a year earlier. Total adjusted PFOs in the Retirement and Income Solutions segment increased 28% to $1.77 billion from $1.38 billion.
MetLife said the 19% underlying increase was driven mainly by U.K. longevity reinsurance and structured settlement sales, highlighting the growing contribution from solutions designed to help institutions transfer retirement and longevity risks.
Retirement and Income Solutions adjusted earnings increased 2% to $377 million from $370 million. Favorable recurring interest margins and volume growth were partially offset by lower variable investment income.
The segment contributed to broad growth across MetLife. Companywide premiums, fees and other revenues increased 7% to $13.7 billion, while adjusted PFOs excluding PRT increased 5% to $13 billion. Net investment income increased 18% to $6.7 billion.
Adjusted earnings increased 15% to approximately $1.6 billion, while adjusted EPS increased 20% to $2.43. MetLife reported a 17% adjusted return on equity for the second consecutive quarter, at the top of its targeted range.
The insurer also returned more than $1.1 billion to shareholders through common dividends and share repurchases during the quarter.
KEY QUOTES:
“MetLife delivered an excellent second quarter. Adjusted earnings per share rose 20 percent, powered by strong underwriting and broad volume growth.”
“Our New Frontier strategy is working. Disciplined execution is driving balanced growth and generating attractive returns, with adjusted return on equity at 17 percent year-to-date.”
Michel Khalaf, President and CEO of MetLife
