“Year-to-date sales are up 11% while adjusted PFOs are up more than 4% in the quarter reflecting the impact of our contracts and within our 4% to 6% outlook range which we expect to achieve for the full year.”

In context

“stments associated with our previously announced reinsurance transaction. Net derivative losses related to interest rate and foreign exchange hedges helped to protect our balance sheet further reduce net income. Our investment portfolio has stayed up in quality and continues to perform well. Underscoring that quality, the credit metrics associated with our real estate portfolio remain largely unchanged sequentially and we did not incur material credit losses during the third quarter. Moving to MetLife's business performance in the quarter. I will start with our US Group Benefits results. Adjusted earnings excluding notable items totaled $483 million an all-time high and up 16% from a year ago. Underwriting results in the quarter for both Group Life and Non-Medical Health were outstanding. Year-to-date sales are up 11% while adjusted PFOs are up more than 4% in the quarter reflecting the impact of our contracts and within our 4% to 6% outlook range which we expect to achieve for the full year. In Group Benefits, we have invested significantly to integrate with the employer benefits ecosystem and enhance our enrollment capabilities and perhaps more important our reenrollment capabilities. With a significant portion of our overall sales and group benefits coming from employee paid products, our efforts to enhance enrollment and take-up rates are critical. Speaking of enrollment we are about to enter open enrollment season. This is an important opportunity to review our employee benefit needs and refresh selections for the upcoming year something I encourage all of you to do. Several of the investments that I referenced aim to make this process easier for participants. Further, we are activating emerging technologies that will help accelerate some of our group benefits initiatives”