U.S. insurer MetLife Inc on Wednesday reported third-quarter profit that more than doubled from a year earlier, largely because derivatives that the U.S insurer uses for hedging swung to net gains compared to a loss a year ago. MetLife holds a book of derivatives to hedge against the risk of market swings. Such gains do not indicate actual performance of the company, but reflect the effect of accounting rules, an issue that has occurred in some previous quarters. …read more
Source:: Yahoo Finance
