“In the absence of responsible organic growth or compelling M&A opportunities, we will return capital over time to our shareholders.”

In context

“n dividend per share is the hallmark of a strong life insurer and MetLife's common dividend per share has grown at a compound rate of 9% since 2011, with roughly $200 million left on our current buyback authorization. As you saw last night, our Board of Directors has authorized an incremental $3 billion increase to our buyback authorization. In the quarter, we announced and closed on the acquisition of Raven Capital Management, an alternative investment manager specializing in direct asset based investments. Aided by MetLife's strategic M&A capabilities, we were able to add an important investment product adjacency that we expect MetLife Investment Management to scale over time. Taken together, these actions demonstrate our commitment to being a sound capital steward for our shareholders. In the absence of responsible organic growth or compelling M&A opportunities, we will return capital over time to our shareholders. At the end of the quarter, we had $4.2 billion of cash at our holding companies, which is above the top end of the $3 billion to $4 billion liquidity buffer we maintain. Our holding company cash fluctuates from quarter-to-quarter. The balance in the first quarter typically reflects lower seasonal operating subsidiary dividends and higher seasonal holding company expenses. Before I close, I would like to take a moment to welcome Jeh Johnson to MetLife's Board of Directors. Jeh joined at the end of April and he brings unique perspective to our Board, having served as Secretary of Homeland Security under President Obama. I am certain Jeh’s talents and experience will serve MetLife well. In closing, while 2023 is shaping up to be another year of uncertainty, the successful actions we've taken”