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Metropolitan Life Insurance

Corporate & Other contains various start-up, developing and run-off businesses. Also included in Corporate & Other are: the excess capital, as well as certain charges and activities, not allocated to the segments (including enterprise-wide strategic initiative restructuring charges), the Company’s ancillary non-U.S. operations, interest expense related to the majority of the Company’s outstanding debt, expenses associated with certain legal proceedings and income tax audit issues, and the elimination of intersegment amounts (which generally relate to affiliated reinsurance and intersegment loans, bearing interest rates commensurate with related borrowings).

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

8 Mar 21
13 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 11.34B 11.34B 11.34B 11.34B 11.34B 11.34B
Cash burn (monthly) 649M (positive/no burn) 71.67M (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 2.24B n/a 247.75M n/a n/a n/a
Cash remaining 9.09B n/a 11.09B n/a n/a n/a
Runway (months of cash) 14.0 n/a 154.7 n/a n/a n/a

Beta Read what these cash burn values mean

Financial report summary

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Risks
  • We May Face Difficult Economic Conditions
  • Obligor and Counterparty Risks
  • We May Not Meet Our Liquidity Needs, Access Capital, or May Face Significantly Increased Cost of Capital Due to Adverse Capital and Credit Market Conditions
  • MetLife, Inc. May Be Unable to Access Its Credit Facility, Reducing Our Liquidity and Leading to Downgrades in Credit and Financial Strength Ratings
  • We May Lose Business Due to a Downgrade or a Potential Downgrade in Financial Strength or Credit Ratings
  • We May Not Find Available, Affordable or Adequate Reinsurance to Protect Us Against Losses
  • Changes in Laws or Regulation, or in Supervisory and Enforcement Policies, May Reduce Our Profitability, Limit Our Growth, or Otherwise Adversely Affect Us
  • Governments or Others May Increase our Taxes by Changing or Re-Interpreting Tax Laws, Making Some of Our Products Less Attractive to Consumers
  • We May Face Increasing Litigation and Regulatory Investigations
  • We May Face Changes to Interest Rates, the Value of our Financial Instruments, the Competitiveness of our Products, the Performance of our Investments, and our Relationships Due to LIBOR’s Termination and the Uncertainties in Our transition to Alternative Reference Rates
  • Our Efforts to Meet Environmental, Social, and Governance Standards and to Enhance the Sustainability of our Businesses May Not Meet Investors' or Regulators' Expectations
  • We May Face Defaults, Downgrades, Volatility or Other Events That Adversely Affect the Investments We Hold
  • We May Have Difficulty Selling Holdings in Our Investment Portfolio or in Our Securities Lending Program in a Timely Manner to Realize Their Full Value
  • We May Have to Pledge Collateral or Make Payments in Derivatives Transactions
  • Our Actual Claims or Other Results May Differ From Our Estimates, Assumptions, or Models
  • We May Face Competition for Business
  • We May Face Catastrophes That Affect Liabilities for Policyholder Claims and Reinsurance Availability
  • We May Face Direct or Indirect Effects of Climate Change or Responses to It
  • We May Need to Fund Deficiencies in Our Closed Block, and May Not Re-Allocate Closed Block Assets
  • We May Be Required to Accelerate the Amortization of or Impair DAC, DSI, or VOBA
  • We May Face Volatility, Higher Risk Management Costs, and Increased Counterparty Risk Due to Guarantees Within Certain of Our Products
  • Our Risk Management Policies and Procedures, or Our Models, May Leave Us Exposed to Unidentified or Unanticipated Risk
  • Our Policies and Procedures May Be Insufficient to Protect Us From Operational Risks
  • We May Fail to Protect Confidential Information Due to a Failure in Our Cybersecurity or Other Information Security Systems or Our Disaster Recovery Plans or Those of Our Vendors
  • We May Face Changes in Accounting Standards
  • Our Associates May Take Excessive Risks
  • We May Have Difficulty in or Complications from Marketing and Distributing Our Products
Management Discussion
  • During 2020, net income (loss) increased $132 million from 2019, primarily driven by favorable changes in net derivative gains (losses), net of investment hedge adjustments, and adjusted earnings, partially offset by unfavorable changes in net investment gains (losses) and the impact of our annual actuarial assumption review.
  • Management of Investment Portfolio and Hedging Market Risks with Derivatives. We manage our investment portfolio using disciplined asset/liability management (“ALM”) principles, focusing on cash flow and duration to support our current and future liabilities. Our intent is to match the timing and amount of liability cash outflows with invested assets that have cash inflows of comparable timing and amount, while optimizing risk-adjusted investment income and risk-adjusted total return. Our investment portfolio is heavily weighted toward fixed income investments, with over 80% of our portfolio invested in fixed maturity securities available-for-sale (“AFS”) and mortgage loans. These securities and loans have varying maturities and other characteristics which cause them to be generally well suited for matching the cash flow and duration of insurance liabilities.
  • We purchase investments to support our insurance liabilities and not to generate net investment gains and losses. However, net investment gains and losses are incurred and can change significantly from period to period due to changes in external influences, including changes in market factors such as interest rates, foreign currency exchange rates, credit spreads and equity markets; counterparty specific factors such as financial performance, credit rating and collateral valuation; and internal factors such as portfolio rebalancing. Changes in these factors from period to period can significantly impact the levels of provision for credit loss and impairments on our investment portfolio, as well as realized gains and losses on investments sold.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Bad
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Proxies

No filings