Metlife, Inc. · NYSE:MET
Metlife — Investor Day (December 2016)
37 slides from Metlife's investor day presentation, Dec 15, 2016
Slide 1: MetLife 2016 Outlook Call
Exhibit 99.1 MetLife 2016 DecemberNavigating 16, Outlook 2016 lifeCall together
Slide 2: Introduction
John A.Vice Introduction Senior HallPresident, Investor Relations
Slide 3: Cautionary Statement on Forward-Looking Statements and Non-GAAP Financial Information
Cautionary Looking FinancialStatements Information Statementand onNon-GAAP Forward-
Slide 4: Safe Harbor Statement
Safe This Reform current “on in performance results. Any be environment. from factors volatility income zone; otherwise; the litigation, ability acquired entry including assumptions realized affect claims 3(i)connection important cost track,” or Harbor presentation those into (4) us; to paying ident
Slide 5: Safe Harbor Statement (Continued)
Safemanagement Insurance (20) (23) consolidation including adjustment subsidiary regulatory through postretirement rights prevent other and associates separation MetLife, achieved. 3(ii) differences increasing Harbor hostilities, oftakeovers the others; Inc.’s Inc. from Please Company; incentives re
Slide 6: Explanatory Information on Non-GAAP Financial Information
Explanatory In Information America underlying The Reconciliations comparable investment net MetLife’s Any Forward-Looking (ii) Non-GAAP 3(iii) (i) this operating baseline reported income. following references presentation, (“GAAP”). definitions profitability gains operating GAAP financial operating
Slide 7: Explanatory Information on Non-GAAP Financial Information (Continued)
GAAP and earnings Operating These which measures for converting revenues The minimum certain under •entities Explanatory Information 3(iv) operating Universal Net Other the many following investment the measures financial could three measure investments revenues that less also based exclude equity i
Slide 8: Explanatory Information on Non-GAAP Financial Information (Continued)
Explanatory Information adjustments contractually associated policyholder unit-linked •costs and Operating GAAP The income 3(v) Amortization Policyholder Interest Other other following tax and business operating tax impact credited expense (iii) costs. earnings with investments; (expense) (Continued
Slide 9: Explanatory Information on Non-GAAP Financial Information (Continued)
Explanatory Information MetLife understanding Baseline total operating The internal consist used fixed of •but exchange 3(vi) All Total Other Statistical all are following consolidated comparisons as annuity products notable used of noteworthy relevant exchanges, also operating rates earnings statut
Slide 10: Explanatory Information on Non-GAAP Financial Information (Continued)
Explanatory •Information actions. flows cash should expressed 3(vii) MetLife flow ofnot MetLife the is uses as be(Continued) holding prior Note aviewed percentage a measure defines to ondiscretionary companies Non-GAAP as afree of of substitute free annual cash (including cash Financial capital flow
Slide 11: Agenda
1. Asia Agenda 2. Maria 3. Christopher 4. Oscar 5. Michel 6. Frank 7. John 8. 9. 4Steven Overview U.S. Latin EMEA MetLife Financial Q&A Closing C.Schmidt, Cassandra, Morris, A. Khalaf, America R.Kandarian, Remarks Hele, Holdings Townsend, Update Executive President, Executive Chief Senior Chairman,
Slide 12: Overview
Steven A. Kandarian Overview Chairman, President & Chief Executive Officer
Slide 13: Today's Call: Refreshed Strategy and Capital Return
• Today’s 6ORefreshed Striking Returning verview call theexcess strategy right will aid balance capital driving multi-year tobetween shareholder shareholders forecasting cashvalue and growth creation
Slide 14: U.S.
Maria Morris U.S. Executive Global Employee Vice President Benefits & Interim Head of U.S.
Slide 15: Group Benefits Operating Earnings Analysis
Group Operating ($ Reported Variable 1Baseline operating See and/or Cumulative inCautionary millions) reconciliations. Benefits investment Operating Operating notable earnings. Earnings impact, 4Q15 Statement items1: Earnings Analysis Earnings income, –as 83Q16 reported onas $663 Forward-Looking $66
Slide 16: Group Benefits Key Near-Term Guidance and Sensitivities
Key Near-Term2 1on See and/or million 1% Operating grow Group 85-90% 9LTM; Relates Certain change Cautionary Sensitivities1 3-5% Group reconciliations. Benefits Life Non-Medical ofprimarily operating premiums, Key in mortality Guidance target Group Items Statement of toearnings Health Life Non-Medic
Slide 17: Retirement and Income Solutions Operating Earnings Analysis
Retirement Operating ($ Reported Variable Actuarial 1Baseline operating See and/or Cumulative inCautionary millions) reconciliations. investment Operating Operating notable assumption earnings. Earnings andimpact, 4Q15 Income Statement items1: Earnings Analysis Earnings income, –review as 10 3Q16 So
Slide 18: Retirement and Income Solutions Key Near-Term Guidance and Sensitivities
return -investment with •$6-7 rates Retirement Key Near-Term 1on See and/or Investment Continue General Expect $1 +/- Includes Certain Cautionary billion Sensitivities 10 variable million could targets reconciliations. bps spread account 1-month Key to Guidance impact income and of change of income
Slide 19: Property & Casualty Operating Earnings Analysis
($Cumulative Reported Variable Catastrophe Baseline Property 1Operating baseline See and/or inCautionary millions) reconciliations. operating investment Operating &Operating notable Earnings Casualty experience impact, 4Q15 Statement items1: earnings. Earnings Analysis Earnings income, –as 12 3Q16 a
Slide 20: Property & Casualty Key Near-Term Guidance and Sensitivities
• Auto 88-93% $23 -$15 approximately Property Key Near-Term 1on 13 See and/or Homeowners 1% Operating Overall Includes Certain Cautionary million Sensitivities change combined reconciliations. &P&C catastrophes. Key Guidance Casualty PFO ofinoperating $8 combined & Auto Homeowners P&C Items Statemen
Slide 21: Asia
Christopher Asia President, Asia Townsend
Slide 22: Asia Operating Earnings Analysis
($Cumulative Reported Variable Actuarial Tax Other Investment Baseline Operating Asia 115 (negative) See and/or inCautionary adjustments millions) noteworthy reconciliations. investment Operating Operating notable assumption Earnings impact income impact, 4Q15 Statement ($20) items1,2: to items2: fr
Slide 23: Asia Operating Earnings Breakdown and Yen Hedging
Asia to planned from USD Operating these movement yen-based hedges. Earnings operating translates See Cautionary Breakdown earnings to $3-4Statement million 2016 at 121 2019 of inonoperating 2017, Estimate Forward-Looking at 125 earnings Projection in 2018 1Statements on Japan andanapproximately unh
Slide 24: Asia Key Near-Term Guidance and Sensitivities
Annual Change Operating Parallel U.S. Japan Korea Asia 17 portfolio focus tax •earnings percentage Near-Term 1on See and/or Key Sales Low 2017 Dividends Japan Certain rate Cautionary Sensitivities +/- on +/- single-digit +/- reconciliations. operating volume Impact and solvency shift 10 growth drivi
Slide 25: Latin America
Latin America Oscar Executive Schmidt Vice President, Latin America
Slide 26: Latin America Operating Earnings Analysis
Latin 19 1Operating (negative) See and/or ($ Reported Variable Actuarial Tax Other Charges Baseline Cumulative inCautionary adjustments millions) America noteworthy reconciliations. related investment Operating Operating notable assumption Earnings impact impact, 4Q15 Statement to($21) items1,2: to
Slide 27: Latin America Key Near-Term Guidance and Sensitivities
Latin Macro As and However, operating Uncertainty could Baseline approximately Dividends Mexican Scenario: Earnings Chilean exchange ProVida Annual Change Operating Key Near-Term 1on fund, See 20The Certain aCautionary operating Sensitivities result, America and adversely ProVida challenges return I
Slide 28: EMEA
Michel Khalaf EMEA President, Europe, Middle East and Africa
Slide 29: EMEA Operating Earnings Analysis
($Cumulative Reported Actuarial Various Miscellaneous Other Baseline Operating EMEA 122 positive See and/or inCautionary millions) noteworthy segment-level reconciliations. reserve impact Operating Operating notable assumption Earnings impact, 4Q15 expense Statement to items items1,2: items2: baseli
Slide 30: EMEA Key Near-Term Guidance and Sensitivities
challenges basis, currency •$20-25 and Key EMEA Near-Term 1on 23 See and/or Emerging Middle Polish Euro Other GBP Europe1 Turkish 10% 15% 20% 40% 30% Operating By Downward Sales Operating Baseline Negative Dividends More 60% Certain Geography Currency Accident Cautionary Sensitivities 15% moving Zlo
Slide 31: MetLife Holdings
MetLife Frank SeniorCassandra Vice Holdings President, MetLife Holdings
Slide 32: MetLife Holdings Operating Earnings Analysis
MetLife Operating ($ Reported Variable Actuarial 1Baseline baseline See and/or Cumulative inCautionary millions) reconciliations. Holdings operating investment Operating Operating notable assumption Earnings impact, 4Q15 Statement items1: earnings. Earnings Analysis Earnings income, –review as 25 3Q
Slide 33: MetLife Holdings Key Near-Term Guidance and Sensitivities
to1% •operating $24 MetLife Key Near-Term 1on Premier three See and/or SA +10% (10%) Elevated Roughly Operating 10 Quarter decrease Certain Return Cautionary million bps Sensitivities change months +$15 ($20 reconciliations. Client change Holdings earnings in 60% life Key Initial Guidance to million
Slide 34: Financial Update
Financial John ChiefC. Financial R.Update Hele Officer
Slide 35: Interest Rate Scenarios: Treasury and LIBOR
Interest Treasury See Cautionary Rates: 1 1.09% Plan Statement 0.58% vs. Stress 1.59% on Forward-Looking Scenario 0.58% 12/31/2016 2.07% 0.58% Statements 12/31/2017 2.33%and 0.58% 12/31/2018 Non-GAAP 10-Year12/31/2019 Financial Treasury 1Information Plan 2.27%Stress 1.50%for Plan2.53% non-GAAP Stres
Slide 36: Financial Update: Corporate & Other and Brighthouse Impact
Financial $105 excluding expense current Information $150 interest initiative Update Brighthouse interest for rates non-GAAP Impact ofrate $300 as Financial• scenario offrom November million financial Rates:($ : Operating Expect pre-tax information, 15,in2016. Corporate in millions) earnings 2017 3
Slide 37: MetLife Navigating life together
MetLife Navigating life together