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MET · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 10.5% y/y to $19.15B, pre-tax margin 5.4% vs 5.7%, net income $705M (+1.0% y/y).
Net income available to common shareholders
$705M
up 1.0% y/y
Total revenues
$19,154M
up 10.5% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Total revenues | $19,154 · +10.5% |
| Policyholder benefits and claims | $11,335 · +5.3% |
| Interest credited to policyholder account balances | $3,067 · +27.8% |
| Other expenses, net of capitalization of DAC | $2,964 · +17.5% |
| Amortization of DAC, VOBA and negative VOBA | $588 · +11.4% |
| Interest expense on debt | $292 · +8.6% |
| Policyholder dividends and liability remeasurement (calculated) | $143 · −5.3% |
| Market risk benefit remeasurement gains | $270 · −2.5% |
| Income before provision for income tax | $1,035 · +5.6% · 5.4% margin |
| Provision for income tax expense | $256 · +4.5% · 24.7% effective rate |
| Net income attributable to noncontrolling interests | $43 · +617% |
| Preferred stock dividends | $31 · +0.0% |
| Net income available to common shareholders | $705 · +1.0% · $1.09/sh · 3.7% margin |
Verdict: revenue grew 10.5% y/y to $19.15B, pre-tax margin 5.4% vs 5.7%, net income $705M (+1.0% y/y).
Net income per diluted share $1.09 vs $1.03 a year earlier; adjusted earnings per share up 20% to $2.43; ROE 11.5%, adjusted ROE 17.0%; book value per share $38.59; more than $1.1 billion returned to shareholders.
Source and notation
Source: MetLife earnings release and its exhibits, 8-K EX-99 of 08/05/2026 (SEC EDGAR). Insurer layout: total revenues = premiums + net investment income + fees and other revenues + realized investment gains (losses), as reported; benefits, claims and expenses are deducted to reach pre-tax income. The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
Open as an image: MET, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “MET Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/met/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/met/q2-2026"><img src="https://whoreportstoday.com/t/met/q2-2026/sankey.png" alt="MET Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/met/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/met/q2-2026">MET Q2 2026 earnings chart (Who Reports Today)</a>
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- Premiums, fees and other revenues rose 7% to $13.7 billion and net investment income 18% to $6.7 billion, but net investment losses of $428M and net derivative losses of $772M held total revenues to $19,154M.
- Adjusted earnings rose 15% to $1.6 billion, while net income available to common shareholders was $705M.
- By segment, Group Benefits adjusted earnings rose 25% to $503 million and Asia 21% to $420 million.
- Pre-tax income was $1.04B, a 5.4% margin vs 5.7% a year earlier.
- The effective tax rate was 24.7% vs 25.0% a year earlier.
- Diluted EPS was $1.09 vs $1.03 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
MET — MetLife is a global insurance and employee benefits company: group benefits, retirement and income solutions, life insurance and annuities in the U.S., Asia, Latin America and EMEA, plus MetLife Investment Management.
Headquarters: New York, New York.
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