MetLife Expects to Report First Net Income in Year
MetLife Inc., the biggest U.S. life insurer, expects to report its first profit in a year in the fourth quarter as investments in private equity, hedge funds and other holdings recover... Net income in the period will probably fall to $340 million to $485 million from $954 million in the fourth quarter of 2008, the New York-based company said today. MetLife, which used hedges to post profits last year as markets declined, accumulated $2.57 billion in net losses in the first nine months of 2009 as stock and bond indexes recovered... Bloomberg: MetLife Expects to Report First Net Income in Year
