# MetLife, Inc. (MET) - Material Events, January through early November 2026 ## Filings that contain financial statements - **Form 8-K filed November 4, 2026 (accession 0001099219-26-000058)**: third quarter 2026 earnings release (Exhibit 99.1) with a GAAP consolidated statement of operations and quarterly adjusted-earnings reconciliations for the three months ended September 30, 2026; Quarterly Financial Supplement (Exhibit 99.2) with GAAP consolidated statements of operations and balance sheets plus segment detail. - **Form 8-K filed August 5, 2026 (accession 0001099219-26-000048)**: same set for the quarter ended June 30, 2026. - **Form 8-K filed May 6, 2026 (accession 0001099219-26-000032)**: same set for the quarter ended March 31, 2026. - **Form 8-K filed February 4, 2026 (accession 0001099219-26-000008)**: same set for the quarter and full year ended December 31, 2025. - **Form 8-K filed January 9, 2026 (accession 0001099219-26-000005)**: Historical Results Financial Supplement (Exhibit 99.1) recasting the quarters ended December 31, 2024 and March 31, June 30 and September 30, 2025, and the year ended December 31, 2024, to the new six-segment format. ## Earnings - **November 4, 2026 - third quarter 2026 results (0001099219-26-000058).** Net income rose 187% to $2.4 billion ($3.67 per share). Adjusted earnings rose 12% to $1.8 billion ($2.78 per share, up 17%). Excluding total notable items, adjusted earnings per share were $2.85, up 22%, which the release calls the highest quarter in the company's history. Notable items were a net $46 million reduction to adjusted earnings from the annual actuarial assumption review. Premiums, fees and other revenues rose 12% to $14.1 billion; adjusted premiums, fees and other revenues excluding pension risk transfers rose 8% to $13.5 billion. Book value per share was $30.73 (down 22%) and adjusted book value per share $59.41 (up 5%). About $1 billion was returned to shareholders through buybacks and common dividends, and holding company cash and liquid assets were $3.4 billion. Management said it is on track for its free cash flow ratio and direct expense ratio targets for the year. - **August 5, 2026 - second quarter 2026 results (0001099219-26-000048).** Net income up 1% to $705 million ($1.09 per share); adjusted earnings up 15% to $1.6 billion ($2.43 per share, up 20%); premiums, fees and other revenues up 7% to $13.7 billion; over $1.1 billion returned to shareholders; holding company cash $3.4 billion. - **May 6, 2026 - first quarter 2026 results (0001099219-26-000032).** Net income up 30% to $1.1 billion ($1.74 per share); adjusted earnings up 18% to $1.6 billion ($2.42 per share, up 23%); premiums, fees and other revenues up 5% to $14.3 billion; variable investment income up 58% to $518 million. - **February 4, 2026 - fourth quarter and full year 2025 results and 2026 outlook (0001099219-26-000008).** About $4.4 billion was returned to shareholders in 2025, and holding company cash was $3.6 billion at year end against a $3.0 to $4.0 billion target. The Item 8.01 outlook maintained near-term targets of adjusted return on equity of 15%-17% (excluding notable items) and double-digit adjusted earnings per share growth; set direct expense ratio targets of 12.1% for 2026 and 11.3% for 2029; and kept the roughly $25.0 billion five-year (2025-2029) free cash flow goal and a 65%-75% two-year average free cash flow to adjusted earnings ratio. The 2026 variable investment income assumption was about $1.6 billion pre-tax. ## Preliminary variable investment income disclosures (Item 7.01) - **April 7, 2026 (0001099219-26-000019):** first quarter 2026 variable investment income estimated at about $475 million to $525 million pre-tax. - **June 29, 2026 (0001099219-26-000045):** second quarter 2026 estimated at about $220 million to $270 million pre-tax. - **September 24, 2026 (0001099219-26-000055):** third quarter 2026 estimated at at least $600 million pre-tax. - Each compared against full-year 2026 guidance of about $1.6 billion pre-tax. The third quarter earnings call presentation (Exhibit 99.4 to 0001099219-26-000058) shows third quarter variable investment income of $720 million. ## Capital actions - **August 5, 2026 - new $3.0 billion share repurchase authorization (0001099219-26-000048, Item 8.01).** The Board approved the new authorization alongside second quarter results. - **February 26, 2026 - $1.0 billion subordinated debt issued (0001193125-26-076647).** MetLife issued $1,000,000,000 of 5.850% Fixed-to-Fixed Reset Rate Subordinated Debentures due 2056 under its shelf registration; the underwriting and pricing agreements were dated February 24, 2026. The issuance closed February 26, 2026. - **Preferred stock dividends** declared on the Series A, D, E and F preferred stock: February 17, 2026 (0001099219-26-000010), with Series A confirmed March 5, 2026 (0001099219-26-000015); May 15, 2026 (0001099219-26-000037; Series A, E and F); August 17, 2026 (0001099219-26-000052; Series A, D, E and F, payable September 15, 2026). Series E and F amounts were unchanged at $351.5625 and $296.875 per share per quarter; the Series D semi-annual dividend was $29.375 per share. ## Segment reporting change - **January 9, 2026 (0001099219-26-000005).** Following a fourth quarter 2025 reorganization, MetLife Investment Management became a reportable segment and MetLife Holdings ceased to be one, now reported primarily in Corporate & Other. MetLife now reports six segments: Group Benefits; Retirement and Income Solutions; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Investment Management. Prior-period net income and adjusted earnings were unchanged by the recast. ## M&A - No acquisition or divestiture was announced on Form 8-K in 2026; the quarterly report discloses the following. - **Pending divestiture, MetLife Ukraine (Form 10-Q, accession 0001099219-26-000062, Note 3, "Pending Disposition of MetLife Ukraine").** In the second quarter of 2026 MetLife entered into a definitive agreement to sell its wholly-owned subsidiary PJSC MetLife ("MetLife Ukraine"), which is reported in the EMEA segment. In connection with the anticipated disposal, an impairment loss of $65 million, net of income tax, was recorded for the nine months ended September 30, 2026 and is reflected in net investment gains (losses). The sale is **pending**: the transaction is expected to close in 2027 and is subject to regulatory approvals and satisfaction of other closing conditions. No buyer or price is disclosed there. - The PineBridge Investments acquisition was **completed** on December 30, 2025 (FY2025 Form 10-K, accession 0001099219-26-000013, Note 3), per the quarterly report for the period ended September 30, 2026 (Form 10-Q, accession 0001099219-26-000062), which gives preliminary purchase consideration of $885 million; the 2026 earnings releases cite PineBridge as a driver of higher MetLife Investment Management revenues and earnings. ## Governance - **February 24, 2026 (0001193125-26-067070).** The Board expanded from eleven to thirteen directors and elected Daniel S. Glaser and Michelle R. Seitz, both independent. - **June 22, 2026 (0001099219-26-000041).** At the June 16, 2026 annual meeting shareholders elected eleven directors, ratified Deloitte & Touche LLP as auditor for 2026, and approved executive compensation on an advisory basis.