(Bloomberg) — MetLife Inc.’s profit slid to $68 million in the second quarter, down 96% from a year earlier, on sluggish investment income.The biggest U.S. life insurer’s adjusted earnings dropped to 83 cents a share, falling short of the 91-cent average estimate of 11 analysts.Key InsightsNet investment income fell 13% to $4.09 billion.Profit fell by 29% in both the U.S. and Asian businesses, driven by declines in variable investment income. The company also reported $710 million in net derivative losses because of stronger equity markets and higher longer-term interest rates.“The decline in our private equity portfolio was squarely within our …read more
Source:: Yahoo Finance
