“This will free up more than $3 billion of capital over time and illustrates the disciplined approach we apply to evaluating our portfolio of businesses.”

In context

“ds of financial and geopolitical turmoil, our balance sheet strength enabled us to repurchase $3.1 billion of our common stock and increase our common stock dividend per share, paying out roughly $1.6 billion in common stock dividends. Even still, we enter 2024 with robust levels of cash and higher capital ratios in our key markets. Our capital management has carried into 2024, and we have repurchased roughly $0.5 billion of MET common shares in the month of January. We continue to have capacity for further action with approximately $1.6 billion remaining on our repurchase authorization. There is no doubt MetLife's financial strength and financial flexibility was on full view during 2023, particularly with the execution of our $19 billion risk transfer transaction that closed in November. This will free up more than $3 billion of capital over time and illustrates the disciplined approach we apply to evaluating our portfolio of businesses. We ended the year with $5.2 billion of cash and liquid assets on our balance sheet, which is comfortably above our target cash buffer of $3 billion to $4 billion. We have consistently said that when responsible growth is attractive and available, we will deploy capital organically or inorganically. If not, we will return capital to our shareholders. I am pleased our Next Horizon strategy continues to prove its metal amid uncertainty. Looking ahead, whether driven by Fed policy and changes to the yield curve, geopolitical events, or the unfolding U.S. election cycle, it is prudent to anticipate more uncertainty in 2024. The supplemental slides we published last night include some near-term targets and elements of guidance. It should be playing to see that we anticipate the underlying momen”