MetLife is one of the world's leading financial services companies, providing insurance, annuities, employee benefits, and asset management. The company holds leading market positions in the United States, Japan, Latin America, Asia, Europe, and the Middle East. MetLife is also one of the largest institutional investors in the U.S. with a general account portfolio invested primarily in fixed income securities and mortgage loans, as well as real estate and other limited partnerships. The company's strategy focuses on generating strong free cash flow, simplifying its business, and driving competitive advantage through its brand, scale, talent, and innovation.

MetLife operates through six segments: Group Benefits; Retirement and Income Solutions (RIS); Asia; Latin America; Europe, the Middle East and Africa (EMEA); and MetLife Holdings. The Group Benefits and RIS businesses were previously reported as the U.S. segment.

• Employees: Approximately 45,000 (as of December 31, 2023)
• Geographic Footprint: Operates in nine jurisdictions throughout Asia, and has operations in the U.S., Japan, Latin America, Asia, Europe and the Middle East
• Headquarters: New York, NY
• Founded: 1999
• Number of locations/facilities: Not explicitly stated in the 10K
• Revenue: $66.9 billion (FY2023)
• Market Capitalization: Approximately $42.8 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Metropolitan Life Insurance Company (MLIC), American Life Insurance Company, Metropolitan Tower Life Insurance Company, Brighthouse Financial, Inc.

• CEO: Michel A. Khalaf (May 2019 - present)
• CFO: John D. McCallion (September 2023 - present)
• Board Chair: R. Glenn Hubbard
• Other Key Executives: Marlene Debel (Executive Vice President and Chief Risk Officer), Bill Pappas (Executive Vice President, Global Technology and Operations), Susan M. Podlogar (Executive Vice President and Chief Human Resources Officer), Ramy Tadros (President, U.S. Business, and Head of MetLife Holdings)

Michel A. Khalaf served as President, U.S. Business, of MetLife, Inc. from July 2017 to April 2019. John D. McCallion served as Executive Vice President and Chief Financial Officer of MetLife, Inc. from November 2019 to August 2023.

• Annual Revenue: $66.9 billion (FY2023)
• Net Income: $1.4 billion (FY2023)
• Market Cap: Approximately $42.8 billion (as of June 30, 2023)
• Total Assets: Not explicitly stated in the 10K
• Number of Employees: Approximately 45,000 (as of December 31, 2023)
• Key Financial Highlights: Adjusted earnings available to common shareholders was $5.5 billion for FY2023. The Statement-Based Combined RBC Ratio was in excess of 380% at December 31, 2023.

MetLife offers a broad range of products and services, including:

• Life Insurance: Whole and term life, endowments, universal and variable life, as well as group life products.
• Retirement and Savings: Fixed and variable annuities, as well as regular savings products.
• Accident & Health Insurance: Full range of accident & health products, including hospitalization, cancer, critical illness, disability, income protection and personal accident coverage.
• Dental: Insurance and ASO arrangements that assist employees, retirees and their families in maintaining oral health while reducing out-of-pocket expenses.
• Disability: Insurance and ASO arrangements for groups and individuals to provide benefits for income replacement, payment of business overhead expenses or mortgage protection, in the event of the disability of the insured.
• Vision: Insurance, ASO arrangements, and managed eye health and vision care solutions to assist employees, retirees and their families in maintaining vision health while reducing out-of-pocket expenses.

MetLife operates through six segments:

• Group Benefits: Offers life, dental, disability, and other insurance products to employers in the U.S.
• Retirement and Income Solutions (RIS): Provides funding and financing solutions to institutional customers, primarily in the U.S.
• Asia: Offers a range of insurance and retirement products across nine jurisdictions in Asia, with a significant presence in Japan.
• Latin America: Markets individual and group life, accident & health, and pension products, with major operations in Mexico and Chile.
• EMEA: Operates in both developed and emerging markets in Europe, the Middle East and Africa, with a focus on niche segments.
• MetLife Holdings: Consists of operations relating to products and businesses that the company no longer actively markets in the U.S.

Revenue breakdown by segment is not explicitly stated in the 10K.

MetLife's strategy, called Next Horizon, focuses on three pillars:

• Focus: Generate strong free cash flow by deploying capital and resources to the highest value opportunities.
• Simplify: Simplify the business to deliver operational efficiency and an outstanding customer experience.
• Differentiate: Drive competitive advantage through the brand, scale, talent, and innovation.

The company is also focused on meeting environmental, social, and governance standards and enhancing sustainability.

MetLife operates in the highly competitive financial services industry, facing competition from various insurance and non-insurance financial services companies. Key market trends include:

• Market Position: One of the world's leading financial services companies.
• Key Competitors: Not explicitly listed in the 10K.
• Industry Trends: Increased innovation and technology in the insurance sector, focus on core businesses and monetization of assets, and increased focus on ESG standards.

• Economic and Capital Markets Risks: Market volatility, interest rate fluctuations, credit spreads, and economic conditions can negatively affect investment returns, profitability, and capital.
• Regulatory and Legal Risks: Changes in laws, regulations, and supervisory policies may reduce profitability, limit growth, or otherwise adversely affect the company.
• Operational Risks: Failures in risk management, cybersecurity, and business continuity plans can lead to financial and reputational harm.
• Insurance Risks: Inaccurate assumptions about mortality, morbidity, and longevity, as well as reinsurance risks can lead to inadequate reserves and higher costs.
• Competition: The life insurance industry is highly competitive, and the company faces challenges from other insurers and non-insurance financial services companies.