May 7, 2020 / 2:10 PM / 21 days ago

BRIEF-Metlife exec says a few pension deals were "pulled out" in first quarter - Conf Call

May 7 (Reuters) - MetLife Inc:

* CEO MICHAEL KHALAF SAYS EXPECTS GROUP LIFE BUSINESS TO MEET OR EXCEED PERFORMANCE GUARANTEES DESPITE “HIGHLY DISRUPTED ENVIRONMENT - CONF CALL

* CEO SAYS RETIREMENT BUSINESS SEES A SLOWDOWN IN TRANSFER DEALS BUT ALSO A SURGE IN STABLE VALUE PRODUCTS - CONF CALL

* CEO SAYS GREATEST Q2 EARNINGS IMPACT WILL BE FELT IN VARIABLE INVESTMENT INCOME - CONF CALL

* CEO SAYS EXPECTS “LESS FAVORABLE” PRIVATE EQUITY RETURNS IN Q2 VARIABLE INVESTMENT INCOME - CONF CALL

* CFO SAYS COMPANY INVESTED ABOUT $2 BILLION IN HIGH QUALITY INVESTMENTS AT END OF MARCH THAT YIELDED ON AVERAGE 5.4%

* CFO SAYS COMPANY ANTICIPATES Q2 INCREASE IN COVID-19 IMPACT - CONF CALL

* CIO SAYS COMPANY EXPECTS TO SEE “ELEVATED ACTIVITY” IN ITS COMMERCIAL MORTGAGE LOAN PORTFOLIO - CONF CALL

* CIO SAYS COMPANY IS FIELDING ELEVATED FORBEARANCE REQUESTS, MAINLY FROM RETAIL AND HOTEL BUSINESSES, IN COMMERCIAL MORTGAGE LOAN PORTFOLIO - CONF CALL

* CIO SAYS COMPANY HAS BEEN GRANTING 3 TO 4 MONTHS OF FORBEARANCE FOR INTEREST AND/OR PRINCIPAL, EXPECTS “THESE WILL ALWAYS BE PAID” - CONF CALL

* CIO SAYS COMPANY SAW “VIRTUALLY NO IMPACT” ON APRIL PAYMENTS FOR COMMERCIAL LOAN PORTFOLIO OVERALL-CONF CALL

* CIO SAYS COMPANY HAS GRANTED FORBEARANCE ON “JUST LESS THAN 2%” OF THE TOTAL PREMIUM BALANCE OUTSTANDING - CONF CALL

* EXEC SAYS “A FEW” PENSION RISK TRANSFER DEALS WERE “PULLED OUT OR PUT ON HOLD” DURING Q1, PIPELINE IS “SOMEWHAT LIGHTER” - CONF CALL Source text for Eikon: Further company coverage: (Reporting by Suzanne Barlyn)

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