MetLife
29 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.
Customers
U.S. Government
earns fromWe also sell Group Benefits products and services through sponsoring associations and affinity groups and provide life, dental, accident & health, and vision coverage to certain employees of the U.S. Government.Business (Item 1)
Also named by ADI, AIR, APH, ASTS, ATI, AVAV, AWK, BA and 46 more
Partners and platforms
Federal Home Loan Bank of New York (FHLBNY)
Funding agreements are issued by certain of our insurance subsidiaries to the Federal Home Loan Bank of New York (“FHLBNY”) and to a subsidiary of the Federal Agricultural Mortgage Corporation.Business (Item 1)
Also named by BPOP
Other companies
Brighthouse Financial, Inc.
named as a riskIn addition, if the IRS ultimately determines that the distribution is taxable, we and Brighthouse could incur significant U.S. federal income tax liabilities, and either we or Brighthouse could have an indemnification obligation to the other, depending on the circumstances.Business (Item 1)
MLIC closed block
named as a riskThe closed block assets established in connection with the MLIC demutualization, their cash flows, and the revenue from the closed block policies may not be sufficient to provide for the policies’ guaranteed benefits.Risk factors (Item 1A)
PineBridge Investments
On December 30, 2025, MIM completed the acquisition of PineBridge Investments (“PineBridge”), a global asset manager.Business (Item 1)
Places
Mexico
operates inOur largest operations in Latin America are in Mexico and Chile.Business (Item 1)
Also named by AAP, AME, AMRC, ANET, AOS, ARES, AYI, AZO and 83 more
United Kingdom
operates inFunded reinsurance is a risk mitigation tool for insurance companies that write pension risk transfer business primarily in the U.K.Business (Item 1)
Also named by AGX, AJG, AMP, BAC, BF/B, BGC, BRO, C and 59 more
Japan
operates inWe operate in nine jurisdictions throughout Asia, with our largest operation in Japan.Business (Item 1)
Also named by A, AAPL, AFL, AMKR, ANET, BMY, BSX, CAT and 25 more
Chile
operates inOur savings-oriented pension products are primarily offered in Chile.Business (Item 1)
Gulf region
operates inOur largest operations are in the Gulf region, the U.K., Turkey and France.Business (Item 1)
Commodities and inputs
Japanese yen
exposed to its price · $1,953named as a riskThe principal currencies that create foreign currency exchange rate risk in our investment portfolios and insurance liabilities are the Japanese yen, the Euro and the British pound.Market risk (Item 7A)
Also named by ABBV, ABT, ACN, ADBE, ALK, AMAT, AMKR, BMY and 24 more
Mortgage loans
exposed to its price · $82,933named as a riskAny concentration of our mortgage loans by geography, tenancy or property type may have an adverse effect on our investment portfolio, the prices we can obtain when we sell assets, and our results of operations or financial condition.Risk factors (Item 1A)
Euro
exposed to its pricenamed as a riskThe principal currencies that create foreign currency exchange rate risk in our investment portfolios and insurance liabilities are the Japanese yen, the Euro and the British pound.Market risk (Item 7A)
Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more
British pound
exposed to its pricenamed as a riskThe principal currencies that create foreign currency exchange rate risk in our investment portfolios and insurance liabilities are the Japanese yen, the Euro and the British pound.Market risk (Item 7A)
Also named by ABBV, ADBE, AJG, AME, AMP, APA, BF/B, BRO and 39 more
Mexican peso
exposed to its pricenamed as a riskThrough our investments in foreign subsidiaries and joint ventures, we are primarily exposed to the Japanese yen, the Euro, the Australian dollar, the British pound, the Mexican peso, the Chilean peso and the Korean won.Market risk (Item 7A)
Also named by AYI, AZO, BAX, CCK, CDRE, CP, DCH, EZPW and 14 more
Regulators
National Association of Insurance Commissioners (NAIC)
subject to · in excess of 370%This NAIC-Based Combined RBC Ratio was in excess of 370% and in excess of 380% at December 31, 2025 and 2024, respectively.Business (Item 1)
Also named by ALL, ARES, BX, FNF, KKR, OWL, PFG, PGR and 3 more
New York State Department of Financial Services (NYDFS)
subject tonamed as a riskAn SCL could mandate assumption changes that would require us to increase, or influence our decision to release, certain asset adequacy reserves, which could materially impact our statutory capital and surplus.Business (Item 1)
Also named by AFL, AIG, AMP, BPOP, COIN, EFX, FNF, GS and 9 more
Financial Stability Oversight Council (FSOC)
subject tonamed as a riskThe revised process could have the effect of simplifying and shortening the FSOC’s procedures for designating certain financial companies as non-bank SIFIs, thereby subjecting such companies to additional supervision, examination, and regulation.Business (Item 1)
Financial Services Agency of Japan
subject tonamed as a riskIn addition, the Financial Services Agency in Japan (“FSA”) may limit or not permit profit repatriations or other transfers of funds to the U.S. if such transfers would be detrimental to the solvency or financial strength of our Japan operations or for other reasons.Business (Item 1)
Laws and programs
Chile pension reform
subject to · up to 10% of certain pension accountsnamed as a riskThis includes biannual competitive bidding for up to 10% of certain pension accounts held by pension fund administrators following the implementation phase, expected to commence in 2027, and the creation of a state-backed entity to administer certain new social security components within a mixed pension framework that does not compete with private pension fund managers.Business (Item 1)
Also named by PFG
Mexico value-added tax
subject to · approximately $50 million to $60 million in 2026named as a riskWe expect the value-added tax change to result in a reduction in Latin America’s adjusted earnings of approximately $50 million to $60 million in 2026, with little to no impact in 2027 and beyond.Business (Item 1)
U.S. Department of Labor fiduciary rule
subject tonamed as a riskAccordingly, it is unclear when, or whether, the regulation and PTE amendments will take effect or in what form.Business (Item 1)
NAIC VM-22 principle-based reserving
subject tonamed as a riskThe ultimate financial impact from PBR on MetLife is uncertain, but could result in less predictable reserve and capital levels for these products.Business (Item 1)
Competitive Health Insurance Reform Act
subject tonamed as a riskConsequently, we anticipate increased regulatory oversight and litigation risk for U.S. products, including dental and vision.Business (Item 1)
Solvency II
subject toOur EEA insurance business is subject to the Solvency II Directive, governing capital adequacy, risk management and regulatory reporting.Business (Item 1)
ERISA
subject toWe provide products and services to certain employee benefit plans that are subject to ERISA and/or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”).Business (Item 1)
New York Insurance Regulation 210
subject toThe regulation generally prohibits insurers from increasing profit margins for in-force policies or adjusting NGEs in order to recoup past losses.Business (Item 1)
NAIC Regulation XXX and Guideline AXXX
subject toWe use capital markets solutions through captives to fund a portion of our statutory reserve requirements for several products, such as level premium term life products and MLIC’s closed block, which are subject to the NAIC’s Valuation of Life Insurance Policies Model Regulation (commonly referred to as Regulation XXX), and universal and variable life policies with secondary guarantees subject to NAIC Actuarial Guideline 38 (commonly referred to as Guideline AXXX).Business (Item 1)
China Risk Oriented Solvency System (C-ROSS)
subject toIn China, our joint venture operates under the China Risk Oriented Solvency System (“C-ROSS”), a risk-based solvency regime with three pillars: quantitative capital, qualitative supervision and governance and market discipline.Business (Item 1)