MET · 8-K · 20260805PR000048
Operating Expense Trends
METLIFE INC · 2026-08-05 · Importance 47 · Surprise 22 · From source text
Total expenses increased 10.8% year over year to $18,119 million from $16,360 million. Adjusted expenses rose 5.6% to $16,981 million from $16,088 million after excluding market risk benefit remeasurement, unit-linked contract costs, reinsurance activity and other adjustments. Adjusted other expenses increased 13.0% to $3,658 million from $3,236 million, and the adjusted expense ratio increased to 20.0% from 19.3%.
Key facts
- Total expenses: $18,119 and $16,360 for the comparable periods source
- Total adjusted expenses: $16,981 and $16,088 for the comparable periods source
- Direct expenses: $1,580 and $1,445 source
- Adjusted other expenses, net of adjusted capitalization of DAC: $2,708 and $2,449 source
- Total expenses for 2Q 2026: $18,119 million source
- Policyholder benefits and claims for 2Q 2026: $11,335 million source
- Interest credited to policyholder account balances for 2Q 2026: $3,067 million source
- Capitalization of DAC: $(950) and $(787) source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -9.2% | Total expenses: $18,119 and $16,360 for the comparable periods |
| operating_income | negative | realized | -1.4% | Adjusted other expenses, net of adjusted capitalization of DAC: $2,708 and $2,449 |
| operating_income | negative | realized | -0.7% | Direct expenses: $1,580 and $1,445 |
| operating_income | negative | realized | — | Total expenses for 2Q 2026: $18,119 million |
| operating_income | negative | realized | — | Policyholder benefits and claims for 2Q 2026: $11,335 million |
| operating_income | negative | realized | — | Interest credited to policyholder account balances for 2Q 2026: $3,067 million |