MetLife's profit falls on less favorable underwriting margins

(Reuters) -MetLife posted a 16% fall in second-quarter adjusted profit on Wednesday, as weaker premiums offset gains from higher investment income.

Adjusted premiums, fees and other revenues declined 6% in the quarter to $12.72 billion, weighed down by less favorable underwriting margins in life and non-medical health products.

Meanwhile, the company's net investment income rose 9% to $5.7 billion in the quarter.

Shares of the company, which have shed nearly 7% in 2025, were down 4.8% in extended trading.

Risk-averse insurers typically hold bond-heavy investment portfolios, which offer better yields in a volatile and uncertain market environment.

Founded in 1868, MetLife is one of the largest U.S. life insurers, offering a range of insurance, annuities, and employee benefit programs across more than 40 markets.

Adjusted earnings available to common shareholders fell to $1.36 billion, or $2.02 per share, in the three months ended June 30. That compares with $1.63 billion, or $2.28 per share, a year earlier, on a constant currency basis.

(Reporting by Pritam Biswas and Manya Saini in Bengaluru; Editing by Tasim Zahid)

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