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MetLife’s Performance in Europe, the Middle East, and Africa

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Aug. 18 2020, Updated 5:18 a.m. ET

Marginal fall

MetLife’s (MET) operating earnings in the EMEA (Europe, the Middle East, and Africa) region fell from $74 million in 3Q16 to $71 million in 3Q17. Its total EMEA operating revenue fell from $702 million to $711 million, primarily due to higher premiums.

In the EMEA region, MetLife’s premiums rose to $527 million from $500 million between 3Q16 and 3Q17. Sales rose due to positive momentum in Turkey and the Gulf region. Whereas MetLife has a dividend yield of 3.0%, peers (XLF) CNO Financial Group (CNO), American International Group (AIG), and Reinsurance Group of America (RGA) have yields of 1.4%, 2.2%, and 1.2%, respectively.

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Total operating expenses

In the EMEA region, MetLife’s total operating expenses rose from $617 million in 3Q16 to $619 million in 3Q17, primarily due to policyholder benefits rising from $257 million to $282 million. Other operating expenses rose from $332 million in 3Q16 to $347 million in 3Q17 due to foreign exchange rates.

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