Metlife, Inc. · NYSE:MET
Metlife — Conference Presentation (February 2010)
13 slides from Metlife's conference presentation, Feb 17, 2010
Slide 1: What's Up in Real Estate?
What's Up in Real Estate? Robert Merck February 17, 2010
Slide 2: Safe Harbor Statement
Safe Harbor Statement These materials may contain or incorporate by reference information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events.
Slide 3: Explanatory Note on Non-GAAP Financial Information
Explanatory Note on Non-GAAP Financial Information Managed Assets (as defined below) is a financial measure based on methodologies other than Generally Accepted Accounting Principles ("GAAP"). MetLife utilizes "Managed Assets" to describe assets in its investment portfolio which are actively managed
Slide 4: MetLife Investments
MetLife Investments Total Portfolio: Diversified portfolio across many sectors Liability Driven: Asset-liability management Team Investment Approach: 540+ investment and support professionals Risk Management: Part of our culture Investment Grade Corporate Bonds Structured Finance Commercial and Agri
Slide 5: MetLife Real Estate Investments
MetLife Real Estate Investments $35 billion in mortgages $9 billion in equity investments Approximately 1,000 loans Real Estate investor for over 100 years Portfolio lender Mortgages are originated, managed and held by MetLife Extensive field office network As of 12/31/09
Slide 6: MetLife REI Field Office Network
Northeast Washington D.C. Atlanta Tampa Chicago Dallas San Francisco Los Angeles Latin America Canada Europe MetLife REI Field Office Network MetLife Real Estate Field Offices
Slide 7: Focused on Lower Loan-to-Value Originations
2001 2002 2003 2004 2005 2006 2007 6/30/1905 MetLife LTV 0.69 0.69 0.65 0.66 0.63 0.62 0.61 0.53 Moodys LTV 0.72 0.73 0.73 0.73 0.71 0.699 CMBS LTV* MetLife LTV *Source: Moody's Investor Service Focused on Lower Loan-to-Value Originations
Slide 8: Recent Sales Improved Diversification
Recent Sales Improved Diversification 2005 2006
Slide 9: Today's Commercial Real Estate Market
Today's Commercial Real Estate Market How did we get here? Today vs. the early 90's Current state Future
Slide 10: Current Strategy
Current Strategy Debt Equity
Slide 11: Appendix
Appendix
Slide 12: Reconciliation of Total Investments to Managed Assets
Reconciliation of Total Investments to Managed Assets ($ Billions) 12/31/09 Total Investments $327.6 Plus Cash and Cash Equivalents 10.1 Less Policy Loans (10.1) Less Other Invested Assets (12.7) Less Mortgages Held For Sale (2.7) Adjustment to Real Estate to reflect Carrying Value (0.5) Less Tradin
Slide 13: MetLife
MetLife