Derivative gain boosts MetLife profit

April 30 Wed Apr 30, 2014 4:32pm EDT

April 30 (Reuters) - MetLife Inc, the largest U.S. life insurer, reported a 36 percent rise in quarterly earnings, helped by a derivative gain linked to credit spreads.

Net profit rose to $1.30 billion, or $1.14 per share, for the first quarter ended March 31, from $956 million, or 87 cents per share, a year earlier.

The company earned $1.37 per share on an operating basis.

MetLife recorded a net derivative gain, after tax and other adjustments, of $343 million compared with a loss of $630 million in the same quarter of 2013. (Reporting by Avik Das and Aman Shah in Bangalore; Editing by Ted Kerr)