“Finally we expect the Japan solvency margin ratio to be approximately 600% as of September 30th, which we based on statutory statements that will be filed over the next few weeks.”

In context

“r US companies preliminary third quarter year-to-date 2023 statutory operating earnings were approximately $3.1 billion, while net income was approximately $2.1 billion. Statutory operating earnings increased by approximately $1.6 billion year-over-year, primarily driven by favorable underwriting partially offset by higher expenses. We estimate that our total US statutory adjusted capital was approximately $17.7 billion as of September 30, 2023, up 2% from June 30, 2023. This increase was primarily due to operating earnings partially offset by dividends paid and net investment losses. Total US statutory adjusted capital has absorbed a negative impact of roughly $300 million associated with the investments expected to be transferred to Global Atlantic, which will be recovered upon closing. Finally we expect the Japan solvency margin ratio to be approximately 600% as of September 30th, which we based on statutory statements that will be filed over the next few weeks. Let me conclude with a few points. First, while VII remains below historical returns, core spreads remain robust and continue to benefit from higher yield environment. Second, the underlying strength of our business fundamentals continues to be displayed with strong top line growth coupled with disciplined underwriting and expense management. Finally, our strong value of new business metrics provide further evidence of our disciplined approach to deploying capital to its highest and best use consistent with our all-weather strategy. To close, MetLife remains in a position of strength given our balance sheet, free cash flow generation and diversification of our market-leading businesses and we are committed to deploying capital to achieve responsible growth and building sustainable value f”