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MetLife profit misses estimates on higher claims
October 30, 2013 / 8:32 PM / in 4 years

MetLife profit misses estimates on higher claims

Oct 30 (Reuters) - MetLife Inc, the largest U.S. life insurer, reported a third-quarter profit that narrowly missed analysts’ estimates as it paid more in claims and benefits to policyholders.

MetLife reported a net profit of $942 million, or 84 cents per share, for the quarter ended Sept. 30.

The company posted a loss of $984 million, or 92 cents per share, in the same quarter a year earlier as it took a goodwill impairment charge of $1.6 billion on its U.S. retail annuity business.

The insurer earned $1.34 per share on an operating basis. Analysts expected earnings of $1.36 per share, according to Thomson Reuters I/B/E/S.

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