MetLife (MET) Q2 2026 Earnings Call Transcript

Image source: The Motley Fool.

DATE

Thursday, Aug. 6, 2026 astatine 9:00 a.m. ET

CALL PARTICIPANTS

• President and Chief Executive Officer - Michel Khalaf

• Chief Financial Officer and Head of MetLife Investment Management - John McCallion

• Treasurer and Head of Investor Relations - John Hall

Full Conference Call Transcript

Operator: Ladies and gentlemen, convey you for lasting by. Welcome to the MetLife Second Quarter 2026 Conference Call. [Operator Instructions] As a reminder, this league is being recorded. Before we get started, I notation you to the cautionary enactment astir forward-looking statements successful yesterday's net merchandise and to hazard factors discussed successful MetLife's SEC filings. With that, I volition present crook the telephone implicit to John Hall, Treasurer and Head of Investor Relations.

John Hall: Thank you, operator, and bully morning, everyone. We admit you joining MetLife's Second Quarter 2026 Call. Before we begin, I nonstop your attraction to the accusation connected non-GAAP measures connected the Investor Relations conception of metlife.com successful our net release, successful our quarterly fiscal supplement and successful our net telephone and capitalist presentations, which you should review. On the telephone contiguous are Michel Khalaf, President and Chief Executive Officer; and John McCallion, Chief Financial Officer and Head of MetLife Investment Management. Also disposable to enactment successful the treatment are different members of elder management. This morning, John McCallion volition talk to the net telephone presumption we released past night. The platform is disposable connected our website.

An appendix to the platform features disclosures, GAAP reconciliations and different information, which you should besides review. After prepared remarks, we volition person a Q&A session, which volition extremity promptly astatine the apical of the hour. As a reminder, delight bounds yourself to 1 question and 1 follow-up. Now to Michel.

Michel Khalaf: Thank you, John, and bully morning, everyone. This was an outstanding 4th and different wide objection of however our New Frontier strategy is moving arsenic intended and however repeatable our exemplary is built connected a almighty recurring gross basal and the flexibility to put wherever we spot the astir compelling planetary risk-adjusted opportunities. At the bosom of our New Frontier strategy are 2 complementary net engines that lend astir arsenic One is superior light, wherever businesses similar Group Benefits, Latin America, EMEA and Asset Management make charismatic interest and underwriting income with beardown currency generation.

The different is superior driven, wherever our status and spread-based businesses leverage our origination, concern and hazard absorption capabilities to enactment our equilibrium expanse to enactment astatine charismatic risk-adjusted returns. Importantly, the 2 engines reenforce 1 another. Our capital-driven businesses originate assets that are managed by MetLife Investment Management, supporting the maturation of our plus absorption level and expanding our capital-light net implicit time. Together, they make a institution that's much balanced, much resilient and amended positioned to execute done antithetic marketplace environments. And that's precisely what we saw this quarter. Adjusted net accrued successful each concern conception compared with a twelvemonth ago. Underwriting show was strong.