METLIFE INC
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Income Statement
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Premiums Earned Net | 12,120 | 11,723 | +3.4% |
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| Asia · Operating Segments | 1,294 | 1,260 | +2.7% |
| EMEA · Operating Segments | 689 | 582 | +18.4% |
| Group Benefits · Operating Segments | 5,848 | 5,763 | +1.5% |
| Latin America · Operating Segments | 1,485 | 1,164 | +27.6% |
| RIS · Operating Segments | 2,212 | 2,284 | -3.2% |
| Insurance Commissions And Fees | 1,343 | 1,229 | +9.3% |
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| Asia · Operating Segments | 427 | 406 | +5.2% |
| EMEA · Operating Segments | 99 | 78 | +26.9% |
| Group Benefits · Operating Segments | 230 | 233 | -1.3% |
| Latin America · Operating Segments | 419 | 340 | +23.2% |
| RIS · Operating Segments | 109 | 104 | +4.8% |
| Net Investment Income | 5,355 | 4,885 | +9.6% |
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| Asia · Operating Segments | 1,461 | 1,204 | +21.3% |
| EMEA · Operating Segments | 67 | 58 | +15.5% |
| Group Benefits · Operating Segments | 352 | 353 | -0.3% |
| Latin America · Operating Segments | 409 | 408 | +0.2% |
| MIM · Operating Segments | 5 | 1 | +400.0% |
| RIS · Operating Segments | 2,252 | 2,190 | +2.8% |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Currency Swap | 1 | 2 | -50.0% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent · Interest Rate Contract | 1 | 17 | -94.1% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | -1 | — | — |
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| Currency Swap · Fair Value Hedging | 24 | 10 | +140.0% |
| Currency Swap · Fair Value Hedging | 24 | -10 | +340.0% |
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| Nondesignated | 16 | -17 | +194.1% |
| Nondesignated · Equity Market Risk [Member] | 16 | -17 | +194.1% |
| Nondesignated · Nonoperating Income Expense | 87 | 95 | -8.4% |
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| Effects of Derivatives on Consolidated Statements of Operations and Comprehensive Income (Loss) [Member] | 105 | 131 | -19.8% |
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| Cash Flow Hedging | 2 | 19 | -89.5% |
| Cash Flow Hedging · Currency Swap | 1 | 2 | -50.0% |
| Cash Flow Hedging · Interest Rate Contract | 1 | 17 | -94.1% |
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| Fair Value Option Contractholder Directed Unit Linked Investments [Member] | -319 | -227 | -40.5% |
| Other Investments | 221 | 239 | -7.5% |
| Securities Investment | 5,674 | 5,112 | +11.0% |
| Other Income | 852 | 687 | +24.0% |
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| Asia · Operating Segments | 17 | 15 | +13.3% |
| Corporate And Other · Material Reconciling Items | 1,461 | 1,646 | -11.2% |
| EMEA · Operating Segments | 9 | 8 | +12.5% |
| Group Benefits · Operating Segments | 461 | 434 | +6.2% |
| Latin America · Operating Segments | -7 | 9 | -177.8% |
| MIM · Operating Segments | 314 | 218 | +44.0% |
| RIS · Operating Segments | 69 | 69 | 0.0% |
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| Material Reconciling Items | 89 | -16 | +656.2% |
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| Reinsurance Agreement [Member] | 39 | — | — |
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| Other Income | 118 | 76 | +55.3% |
| Gain Loss On Investments | -670 | -387 | -73.1% |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Currency Swap | -249 | 360 | -169.2% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent · Interest Rate Contract | 1 | — | — |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | -220 | -285 | +22.8% |
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| Effects of Derivatives on Consolidated Statements of Operations and Comprehensive Income (Loss) [Member] | -8 | 1 | -900.0% |
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| Material Reconciling Items | -670 | -387 | -73.1% |
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| Cash Flow Hedging | -8 | 2 | -500.0% |
| Cash Flow Hedging · Currency Swap | -249 | 360 | -169.2% |
| Cash Flow Hedging · Foreign Currency Gain Loss | 240 | -358 | +167.0% |
| Cash Flow Hedging · Interest Rate Contract | 1 | — | — |
| Gain Loss On Derivative Instruments Net Pretax | 74 | 432 | -82.9% |
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| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | -5 | 44 | -111.4% |
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| Nondesignated · Nonoperating Income Expense | 100 | 110 | -9.1% |
| Nondesignated · Synthetic GICs [Member] | 19 | 19 | 0.0% |
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| Material Reconciling Items | 74 | 432 | -82.9% |
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| Reinsurance Agreement [Member] | 106 | — | — |
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| Embedded Derivative Financial Instruments | 191 | -35 | +645.7% |
| Embedded derivatives - other | 17 | 3 | +466.7% |
| Revenue | 19,074 | 18,569 | +2.7% |
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| Intersegment · MIM | 131 | 129 | +1.6% |
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| Asia · Operating Segments | 3,199 | 2,885 | +10.9% |
| EMEA · Operating Segments | 864 | 726 | +19.0% |
| Group Benefits · Operating Segments | 6,891 | 6,783 | +1.6% |
| Latin America · Operating Segments | 2,306 | 1,921 | +20.0% |
| MIM · Operating Segments | 319 | 219 | +45.7% |
| RIS · Operating Segments | 4,642 | 4,647 | -0.1% |
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| Operating Segments | 18,221 | 17,181 | +6.1% |
| Policyholder Benefits And Claims Incurred Net | 11,864 | 11,806 | +0.5% |
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| Interest Rate Swap · Fair Value Hedging | -2 | 79 | -102.5% |
| Interest Rate Swap · Fair Value Hedging | -6 | 75 | -108.0% |
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| Nondesignated · Nonoperating Income Expense | 7 | 2 | +250.0% |
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| Effects of Derivatives on Consolidated Statements of Operations and Comprehensive Income (Loss) [Member] | 3 | -2 | +250.0% |
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| Fair Value Hedging | 4 | 4 | 0.0% |
| Liability For Future Policy Benefit Remeasurement Gain Loss | -13 | -31 | +58.1% |
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| Asia · Operating Segments | -15 | -11 | -36.4% |
| EMEA · Operating Segments | 3 | — | — |
| Group Benefits · Operating Segments | -2 | -18 | +88.9% |
| RIS · Operating Segments | -20 | -15 | -33.3% |
| Market Risk Benefit Change In Fair Value Gain Loss | 120 | 299 | -59.9% |
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| Material Reconciling Items | 120 | 299 | -59.9% |
| Interest Credited To Policyholders Account Balances | 1,674 | 1,647 | +1.6% |
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| Asia · Operating Segments | 833 | 711 | +17.2% |
| EMEA · Operating Segments | 21 | 17 | +23.5% |
| Group Benefits · Operating Segments | 70 | 72 | -2.8% |
| Latin America · Operating Segments | 85 | 98 | -13.3% |
| RIS · Operating Segments | 883 | 883 | 0.0% |
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| Currency Swap · Fair Value Hedging | 7 | 36 | -80.6% |
| Currency Swap · Fair Value Hedging | 7 | 36 | -80.6% |
| Interest Rate Swap · Fair Value Hedging | 14 | 40 | -65.0% |
| Interest Rate Swap · Fair Value Hedging | 14 | 42 | -66.7% |
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| Nondesignated · Nonoperating Income Expense | 39 | 40 | -2.5% |
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| Effects of Derivatives on Consolidated Statements of Operations and Comprehensive Income (Loss) [Member] | -39 | -38 | -2.6% |
| Policyholder Dividends | 124 | 144 | -13.9% |
| Operating Expenses | 3,798 | 3,350 | +13.4% |
| Benefits Losses And Expenses | 17,567 | 17,215 | +2.0% |
| Income Before Taxes | 1,507 | 1,354 | +11.3% |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -24 | -31 | +22.6% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -246 | 379 | -164.9% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | -226 | -241 | +6.2% |
| Income Tax Expense (Benefit) | 345 | 404 | -14.6% |
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| Asia · Operating Segments | 202 | 162 | +24.7% |
| EMEA · Operating Segments | 33 | 26 | +26.9% |
| Group Benefits · Operating Segments | 116 | 98 | +18.4% |
| Latin America · Operating Segments | 101 | 72 | +40.3% |
| MIM · Operating Segments | 16 | 9 | +77.8% |
| RIS · Operating Segments | 107 | 99 | +8.1% |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -5 | -7 | +28.6% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -53 | 76 | -169.7% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | -58 | -54 | -7.4% |
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| Material Reconciling Items | 170 | 23 | +639.1% |
| Net Income | 1,162 | 950 | +22.3% |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -19 | -24 | +20.8% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -193 | 303 | -163.7% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | -168 | -187 | +10.2% |
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| Reclassification Out Of Accumulated Other Comprehensive Income | -380 | 92 | -513.0% |
| Net Income Loss Attributable To Noncontrolling Interest | -23 | 5 | -560.0% |
| Net Income | 1,185 | 945 | +25.4% |
| Dividends Preferred Stock | 45 | 66 | -31.8% |
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| Parent | 45 | 66 | -31.8% |
| Retained Earnings | 45 | 66 | -31.8% |
| Net Income Loss Available To Common Stockholders Basic | 1,140 | 879 | +29.7% |
| Net Income Loss Including Portion Attributable To Noncontrolling Interest And Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent | 43 | 2,960 | -98.5% |
| Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest | 1 | 3 | -66.7% |
| Comprehensive Income | 42 | 2,957 | -98.6% |
| EPS (Basic) | 1.75 | 1.29 | +35.7% |
| EPS (Diluted) | 1.74 | 1.28 | +35.9% |
| Revenue | 734 | 611 | +20.1% |
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| Administrative Service | 81 | 74 | +9.5% |
| Distribution Service | 34 | 36 | -5.6% |
| Institutional Client asset management fees (1) | 186 | 77 | +141.6% |
| Other revenue related to service contracts from customers (1) (3) | 98 | 109 | -10.1% |
| Prepaid legal plans | 176 | 161 | +9.3% |
| Vision fee for service arrangements | 159 | 154 | +3.2% |
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| Related Party · Equity Method Investee | 6 | — | — |
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| Equity Method Investee | 11 | 12 | -8.3% |
| Sales & Marketing | 2,027 | 1,547 | +31.0% |
| General & Administrative | 132 | 126 | +4.8% |
| Operating Income | 1,631 | 1,415 | +15.3% |
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| Asia · Operating Segments | 487 | 372 | +30.9% |
| EMEA · Operating Segments | 110 | 83 | +32.5% |
| Group Benefits · Operating Segments | 439 | 370 | +18.6% |
| Latin America · Operating Segments | 229 | 219 | +4.6% |
| MIM · Operating Segments | 47 | 28 | +67.9% |
| RIS · Operating Segments | 451 | 406 | +11.1% |
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| Corporate Non Segment | -132 | -63 | -109.5% |
| Operating Segments | 1,763 | 1,478 | +19.3% |
| Wtd Avg Shares (Basic) | 652 | 682.3 | -4.4% |
| Wtd Avg Shares (Diluted) | 655.7 | 687 | -4.6% |
| Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1 | 7,386 | 7,408 | -0.3% |
| Operating Lease Lease Income (Q) | — | — | — |
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| Leased real estate | 85 | 89 | -4.5% |
| Other real estate | 75 | 75 | 0.0% |
| Income Loss From Equity Method Investments | 533 | 267 | +99.6% |
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| REJVs | 66 | 43 | +53.5% |
| Labor And Related Expense | 1,109 | 991 | +11.9% |
| Professional Fees | 387 | 376 | +2.9% |
| Other Expenses (Q) | — | — | — |
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| Asia · Operating Segments | 95 | 92 | +3.3% |
| EMEA · Operating Segments | 141 | 120 | +17.5% |
| Group Benefits · Operating Segments | 568 | 542 | +4.8% |
| Latin America · Operating Segments | 206 | 176 | +17.0% |
| MIM · Operating Segments | 13 | 9 | +44.4% |
| RIS · Operating Segments | 36 | 34 | +5.9% |
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| Reinsurance Agreement [Member] | 92 | — | — |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Short-Term Investments | 4,948 | 5,543 | -10.7% |
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| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 3,571 | 4,032 | -11.4% |
| Fair Value Inputs Level2 · Fair Value Measurements Recurring | 1,031 | 1,148 | -10.2% |
| Fair Value Inputs Level3 · Fair Value Measurements Recurring | 101 | 9 | +1022.2% |
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| Fair Value Measurements Recurring | 4,703 | 5,189 | -9.4% |
| Cash & Cash Equivalents | 22,687 | — | — |
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| Variable Interest Entity Primary Beneficiary | 132 | — | — |
| Non-Current Assets | |||
| Equity Securities Fv Ni Current And Noncurrent | 927 | 747 | +24.1% |
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| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 436 | 424 | +2.8% |
| Fair Value Inputs Level2 · Fair Value Measurements Recurring | 143 | 75 | +90.7% |
| Fair Value Inputs Level3 · Fair Value Measurements Recurring | 348 | 248 | +40.3% |
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| Common Stock | 796 | 639 | +24.6% |
| Equity Securities | 927 | 747 | +24.1% |
| Nonredeemable Preferred Stock | 131 | 108 | +21.3% |
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| Fair Value Measurements Recurring | 927 | 747 | +24.1% |
| Deferred Tax Assets | 2,901 | 2,524 | +14.9% |
| Goodwill | 9,565 | 9,036 | +5.9% |
| Total Assets | 743,211 | — | — |
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| Commitments To Extend Credit | 5.9 | — | — |
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| Variable Interest Entity Not Primary Beneficiary | 24.4 | — | — |
| Variable Interest Entity Primary Beneficiary | 282 | — | — |
| Variable Interest Entity Primary Beneficiary and Asset Manager | 2,596 | — | — |
| Variable Interest Entity Primary Beneficiary and Asset Manager · Cash And Cash Equivalents | 121 | — | — |
| Variable Interest Entity Primary Beneficiary and Asset Manager · Contract-holder Directed Equity Securities | 408 | — | — |
| Variable Interest Entity Primary Beneficiary and Asset Manager · FVO securities | 1,257 | — | — |
| Variable Interest Entity Primary Beneficiary and Asset Manager · Investment funds (1) | 590 | 490 | +20.4% |
| Variable Interest Entity Primary Beneficiary and Asset Manager · Other Assets | 23 | — | — |
| Variable Interest Entity Primary Beneficiary · Cash And Cash Equivalents | 11 | — | — |
| Variable Interest Entity Primary Beneficiary · Other Assets | 25 | — | — |
| Variable Interest Entity Primary Beneficiary · Partnership | 43 | — | — |
| Other Assets | |||
| Contractholder Directed Equity Securities And Fair Value Option Securities At Estimated Fair Value | 13,435 | — | — |
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| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 8,134 | — | — |
| Fair Value Inputs Level2 · Fair Value Measurements Recurring | 3,786 | — | — |
| Fair Value Inputs Level3 · Fair Value Measurements Recurring | 1,515 | — | — |
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| Variable Interest Entity Primary Beneficiary | 1,665 | — | — |
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| Fair Value Measurements Recurring | 13,435 | — | — |
| Real Estate Investments | 13,356 | — | — |
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| Fair Value Inputs Level3 · Fair Value Measurements Nonrecurring | 142 | — | — |
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| Residential Loans Held For Investment [Member] | 303 | — | — |
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| Variable Interest Entity Primary Beneficiary | 376 | — | — |
| Variable Interest Entity Primary Beneficiary and Asset Manager · REJVs | 173 | — | — |
| Variable Interest Entity Primary Beneficiary · REJVs | 203 | — | — |
| Other Investments | 17,624 | 17,470 | +0.9% |
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| Variable Interest Entity Primary Beneficiary | 657 | 520 | +26.3% |
| Investments | 473,112 | 450,409 | +5.0% |
| Accrued Investment Income Receivable | 3,796 | 3,557 | +6.7% |
| Premiums And Other Receivables Net | 50,335 | — | — |
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| Chariot Re [Member] · Reinsurance Agreement [Member] | 10.2 | — | — |
| Market Risk Benefit Asset Amount | 392 | 317 | +23.7% |
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| Investments Segment · Corporate And Other | 207 | — | — |
| Other Insurance Product Line | 185 | 135 | +37.0% |
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| Fair Value Inputs Level3 · Fair Value Measurements Recurring | 392 | 317 | +23.7% |
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| Fair Value Measurements Recurring | 392 | 317 | +23.7% |
| Deferred Policy Acquisition Costs And Value Of Business Acquired | 21,269 | 20,162 | +5.5% |
| Income Tax Receivable | 455 | 338 | +34.6% |
| Other Assets | 11,013 | 11,253 | -2.1% |
| Separate Account Assets | 147,686 | 138,143 | +6.9% |
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| Asia | 10,834 | 8,245 | +31.4% |
| Asia · Agency Securities | 1,048 | 1,177 | -11.0% |
| Asia · Bond funds | 251 | — | — |
| Asia · Bonds | 1,912 | 2,043 | -6.4% |
| Asia · Corporate Bond Securities | 714 | 660 | +8.2% |
| Asia · Equity Funds | 3,053 | — | — |
| Asia · Fixed Maturities | 2,052 | 2,043 | +0.4% |
| Asia · Investments | 10,094 | 7,774 | +29.8% |
| Asia · Mutual Fund | 3,683 | 3,066 | +20.1% |
| Asia · Other | 379 | — | — |
| Asia · Other Assets | 740 | 471 | +57.1% |
| Asia · Other invested assets | 327 | 313 | +4.5% |
| Asia · Public Utilities | 130 | 187 | -30.5% |
| Asia · Redeemable Preferred Stock | 140 | — | — |
| Asia · Separate Account Equity Security | 4,032 | 2,352 | +71.4% |
| Asia · US States And Political Subdivisions | 20 | 19 | +5.3% |
| Corporate And Other | 25,232 | — | — |
| Corporate And Other · Balanced Funds | 3 | — | — |
| Corporate And Other · Bond funds | 1,960 | — | — |
| Corporate And Other · Equity Funds | 12,779 | — | — |
| Corporate And Other · Investments | 25,232 | — | — |
| Corporate And Other · Mutual Fund | 25,232 | — | — |
| Corporate And Other · Other | 10,490 | — | — |
| EMEA | 7,422 | 5,337 | +39.1% |
| EMEA · Agency Securities | 4,478 | 3,292 | +36.0% |
| EMEA · Bond funds | 43 | — | — |
| EMEA · Bonds | 4,899 | 3,719 | +31.7% |
| EMEA · Corporate Bond Securities | 421 | 427 | -1.4% |
| EMEA · Equity Funds | 60 | — | — |
| EMEA · Fixed Maturities | 4,899 | 3,719 | +31.7% |
| EMEA · Investments | 7,358 | 5,283 | +39.3% |
| EMEA · Mutual Fund | 131 | 195 | -32.8% |
| EMEA · Other | 28 | — | — |
| EMEA · Other Assets | 64 | 54 | +18.5% |
| EMEA · Other invested assets | 187 | 29 | +544.8% |
| EMEA · Separate Account Equity Security | 2,141 | 1,340 | +59.8% |
| Group Benefits | 1,365 | 1,241 | +10.0% |
| Group Benefits · Balanced Funds | 80 | — | — |
| Group Benefits · Bond funds | 86 | — | — |
| Group Benefits · Equity Funds | 1,084 | — | — |
| Group Benefits · Investments | 1,365 | 1,241 | +10.0% |
| Group Benefits · Mutual Fund | 1,365 | 1,241 | +10.0% |
| Group Benefits · Other | 115 | — | — |
| Latin America | 46,741 | 41,179 | +13.5% |
| Latin America · Agency Securities | 11,986 | 11,140 | +7.6% |
| Latin America · Bond funds | 6,319 | — | — |
| Latin America · Bonds | 19,949 | 19,267 | +3.5% |
| Latin America · Corporate Bond Securities | 7,963 | 8,127 | -2.0% |
| Latin America · Equity Funds | 12,841 | — | — |
| Latin America · Fixed Maturities | 19,949 | 19,267 | +3.5% |
| Latin America · Investments | 46,156 | 40,336 | +14.4% |
| Latin America · Mutual Fund | 19,160 | 15,114 | +26.8% |
| Latin America · Other Assets | 585 | 843 | -30.6% |
| Latin America · Other invested assets | 2,997 | 3,149 | -4.8% |
| Latin America · Separate Account Equity Security | 4,050 | 2,806 | +44.3% |
| RIS | 56,092 | 49,452 | +13.4% |
| RIS · Agency Securities | 9,052 | 9,665 | -6.3% |
| RIS · Asset Backed Securities Securitized Loans And Receivables | 2,351 | 2,404 | -2.2% |
| RIS · Balanced Funds | 91 | — | — |
| RIS · Bond funds | 1,600 | — | — |
| RIS · Bonds | 18,392 | 19,562 | -6.0% |
| RIS · Corporate Bond Securities | 7,985 | 8,505 | -6.1% |
| RIS · Equity Funds | 6,275 | — | — |
| RIS · Fixed Maturities | 29,082 | 30,270 | -3.9% |
| RIS · Investments | 51,533 | 45,002 | +14.5% |
| RIS · Mutual Fund | 18,785 | 10,669 | +76.1% |
| RIS · Other | 10,819 | — | — |
| RIS · Other Assets | 4,559 | 4,450 | +2.4% |
| RIS · Other invested assets | 988 | 1,468 | -32.7% |
| RIS · Public Utilities | 1,061 | 1,095 | -3.1% |
| RIS · Redeemable Preferred Stock | 7 | 8 | -12.5% |
| RIS · Separate Account Equity Security | 2,678 | 2,595 | +3.2% |
| RIS · Separate Account Mortgage Backed Security | 8,332 | 8,296 | +0.4% |
| RIS · US States And Political Subdivisions | 294 | 297 | -1.0% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 75,066 | 65,342 | +14.9% |
| Fair Value Inputs Level2 · Fair Value Measurements Recurring | 71,826 | 71,829 | -0.0% |
| Fair Value Inputs Level3 · Fair Value Measurements Recurring | 794 | 972 | -18.3% |
Show Financial Instrument breakouts |
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| Agency Securities · Separate Account Debt Security | 26,564 | 25,274 | +5.1% |
| Asset Backed Securities Securitized Loans And Receivables · Separate Account Debt Security | 2,351 | 2,404 | -2.2% |
| Balanced Funds · Separate Account Equity Security | 174 | — | — |
| Bond funds · Separate Account Equity Security | 10,259 | — | — |
| Bonds · Separate Account Debt Security | 45,152 | 44,591 | +1.3% |
| Corporate Bond Securities · Separate Account Debt Security | 17,083 | 17,719 | -3.6% |
| Equity Funds · Separate Account Equity Security | 36,092 | — | — |
| Fixed Maturities · Separate Account Debt Security | 55,982 | 55,299 | +1.2% |
| Mutual Fund · Separate Account Equity Security | 68,356 | 62,974 | +8.5% |
| Other invested assets | 4,499 | 4,959 | -9.3% |
| Other · Separate Account Equity Security | 21,831 | — | — |
| Public Utilities · Separate Account Debt Security | 1,191 | 1,282 | -7.1% |
| Redeemable Preferred Stock · Separate Account Debt Security | 147 | 8 | +1737.5% |
| Separate Account Equity Security · Separate Account Equity Security | 12,901 | 9,093 | +41.9% |
| Separate Account Mortgage Backed Security · Separate Account Debt Security | 8,332 | 8,296 | +0.4% |
| US States And Political Subdivisions · Separate Account Debt Security | 314 | 316 | -0.6% |
Show Fair Value By Measurement Frequency breakouts |
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| Fair Value Measurements Recurring | 147,686 | 138,143 | +6.9% |
Show Separate Account Asset Category breakouts |
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| Investments | 141,738 | 132,325 | +7.1% |
| Other Assets | 5,948 | 5,818 | +2.2% |
| Non-Current Liabilities | |||
| Deferred Tax Liabilities | 382 | 430 | -11.2% |
| Total Liabilities | 715,410 | 660,561 | +8.3% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 126 | 134 | -6.0% |
| Variable Interest Entity Primary Beneficiary and Asset Manager | 1,392 | — | — |
| Variable Interest Entity Primary Beneficiary and Asset Manager · Long Term Debt | 68 | — | — |
| Variable Interest Entity Primary Beneficiary and Asset Manager · Other Liabilities | 132 | — | — |
| Variable Interest Entity Primary Beneficiary · Other Liabilities | 7 | — | — |
| Variable Interest Entity Primary Beneficiary · Short Term Debt | 113 | — | — |
| Other Liabilities | |||
| Available For Sale Securities Debt Securities | 316,110 | 291,735 | +8.4% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 16,658 | 16,375 | +1.7% |
| Fair Value Inputs Level1 · US Treasury And Government | 16,658 | 16,375 | +1.7% |
| Fair Value Inputs Level2 · Asset Backed Securities | 22,975 | 19,689 | +16.7% |
| Fair Value Inputs Level2 · Commercial Mortgage Backed Securities | 9,256 | 9,016 | +2.7% |
| Fair Value Inputs Level2 · Domestic Corporate Debt Securities | 74,893 | 68,622 | +9.1% |
| Fair Value Inputs Level2 · Fair Value Measurements Recurring | 263,501 | 242,982 | +8.4% |
| Fair Value Inputs Level2 · Foreign Corporate Debt Securities | 42,945 | 40,588 | +5.8% |
| Fair Value Inputs Level2 · Foreign Government Debt Securities | 39,349 | 41,196 | -4.5% |
| Fair Value Inputs Level2 · Residential Mortgage Backed Securities | 43,960 | 36,469 | +20.5% |
| Fair Value Inputs Level2 · US States And Political Subdivisions | 10,832 | 9,902 | +9.4% |
| Fair Value Inputs Level2 · US Treasury And Government | 19,291 | 17,500 | +10.2% |
| Fair Value Inputs Level3 · Asset Backed Securities | 2,061 | 1,309 | +57.4% |
| Fair Value Inputs Level3 · Commercial Mortgage Backed Securities | 409 | 559 | -26.8% |
| Fair Value Inputs Level3 · Domestic Corporate Debt Securities | 14,077 | 12,573 | +12.0% |
| Fair Value Inputs Level3 · Fair Value Measurements Recurring | 35,951 | 32,378 | +11.0% |
| Fair Value Inputs Level3 · Foreign Corporate Debt Securities | 17,113 | 14,939 | +14.6% |
| Fair Value Inputs Level3 · Foreign Government Debt Securities | 698 | 57 | +1124.6% |
| Fair Value Inputs Level3 · Residential Mortgage Backed Securities | 1,593 | 2,939 | -45.8% |
Show Financial Instrument breakouts |
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| Asset Backed Securities | 25,036 | 20,998 | +19.2% |
| Commercial Mortgage Backed Securities | 9,665 | 9,575 | +0.9% |
| Domestic Corporate Debt Securities | 88,970 | 81,195 | +9.6% |
| Foreign Corporate Debt Securities | 60,058 | 55,527 | +8.2% |
| Foreign Government Debt Securities | 40,047 | 41,253 | -2.9% |
| Residential Mortgage Backed Securities | 45,553 | 39,408 | +15.6% |
| US States And Political Subdivisions | 10,832 | 9,904 | +9.4% |
| US Treasury And Government | 35,949 | 33,875 | +6.1% |
Show Fair Value By Asset Class breakouts |
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| Asset Backed Securities · Fair Value Measurements Recurring | 25,036 | 20,998 | +19.2% |
| Commercial Mortgage Backed Securities · Fair Value Measurements Recurring | 9,665 | 9,575 | +0.9% |
| Domestic Corporate Debt Securities · Fair Value Measurements Recurring | 88,970 | 81,195 | +9.6% |
| Foreign Corporate Debt Securities · Fair Value Measurements Recurring | 60,058 | 55,527 | +8.2% |
| Foreign Government Debt Securities · Fair Value Measurements Recurring | 40,047 | 41,253 | -2.9% |
| Residential Mortgage Backed Securities · Fair Value Measurements Recurring | 45,553 | 39,408 | +15.6% |
| US States And Political Subdivisions · Fair Value Measurements Recurring | 10,832 | 9,904 | +9.4% |
| US Treasury And Government · Fair Value Measurements Recurring | 35,949 | 33,875 | +6.1% |
Show Fair Value By Measurement Frequency breakouts |
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| Fair Value Measurements Recurring | 316,110 | 291,735 | +8.4% |
| Liability For Future Policy Benefits | 206,628 | 197,667 | +4.5% |
Show Product Lines breakouts |
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| Accident and Health Insurance Product Line for Deferred Profit Liabilities · Asia | 984 | 903 | +9.0% |
| Accident And Health Insurance Segment · Asia | 7,259 | 9,679 | -25.0% |
| Fixed & Immediate Annuities for Deferred Profit Liabilities · RIS | 3,877 | 3,804 | +1.9% |
| Fixed & Immediate Annuities · RIS | 78,651 | 68,146 | +15.4% |
| Fixed Annuity for Deferred Profit Liabilities · Latin America | 540 | 521 | +3.6% |
| Fixed Annuity · Latin America | 12,453 | 10,388 | +19.9% |
| Long-term Care · Corporate And Other | 14,978 | 14,716 | +1.8% |
| Other Longduration Insurance Product Line | 11,209 | 10,757 | +4.2% |
| Other Shortduration Insurance Product Line | 15,344 | 14,213 | +8.0% |
| Participating Life Insurance Policy · Corporate And Other | 47,063 | — | — |
| Universal and Variable Universal Life · Asia | 327 | 372 | -12.1% |
| Universal and Variable Universal Life · Corporate And Other | 2,740 | — | — |
| Variable Life · Asia | 1,052 | 1,157 | -9.1% |
| Whole and Term Life & Endowments for Deferred Profit Liabilities · Asia | 915 | 798 | +14.7% |
| Whole and Term Life & Endowments · Asia | 9,236 | 11,565 | -20.1% |
| Policyholder Contract Deposits | 239,836 | 225,623 | +6.3% |
| Market Risk Benefit Liability Amount | 2,522 | 2,844 | -11.3% |
Show Product Lines breakouts |
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| Investments Segment · Corporate And Other | 2,152 | — | — |
| Other Insurance Product Line | 370 | 98 | +277.6% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level3 · Fair Value Measurements Recurring | 2,522 | 2,844 | -11.3% |
Show Fair Value By Measurement Frequency breakouts |
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| Fair Value Measurements Recurring | 2,522 | 2,844 | -11.3% |
| Other Policy Related Balances | 20,444 | 19,523 | +4.7% |
| Policyholder Dividends Payable | 337 | 356 | -5.3% |
| Payables For Collateral Under Securities Loaned And Other Transactions | 18,157 | 17,440 | +4.1% |
| Short Term Borrowings | 404 | 381 | +6.0% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 113 | 97 | +16.5% |
| Long Term Debt And Capital Lease Obligations Including Current Maturities | 14,445 | — | — |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 68 | — | — |
| Secured Debt | 299 | 463 | -35.4% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level3 · Estimate Of Fair Value Fair Value Disclosure | 276 | 414 | -33.3% |
Show Fair Value By Measurement Basis breakouts |
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| Carrying Reported Amount Fair Value Disclosure | 299 | 463 | -35.4% |
| Estimate Of Fair Value Fair Value Disclosure | 276 | 414 | -33.3% |
| Subordinated Debt | 5,143 | 4,153 | +23.8% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level2 · Estimate Of Fair Value Fair Value Disclosure | 5,555 | 4,585 | +21.2% |
Show Fair Value By Measurement Basis breakouts |
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| Carrying Reported Amount Fair Value Disclosure | 5,143 | 4,153 | +23.8% |
| Estimate Of Fair Value Fair Value Disclosure | 5,555 | 4,585 | +21.2% |
| Notes Issued By Collateralized Financing Entities | 1,138 | — | — |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level3 · Fair Value Measurements Recurring | 1,138 | — | — |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary and Asset Manager · NotesMember | 1,138 | — | — |
Show Fair Value By Measurement Frequency breakouts |
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| Fair Value Measurements Recurring | 1,138 | — | — |
| Other Liabilities | 57,989 | — | — |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 139 | — | — |
Show Related Party Transactions By Related Party breakouts |
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| Loans Originated For Third Party | 6.1 | — | — |
| Separate Accounts Liability | 147,686 | 138,143 | +6.9% |
Show Product Lines breakouts |
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| Investments Segment · Corporate And Other | 18,347 | 19,795 | -7.3% |
| Investments Segment · RIS | 17,706 | 17,721 | -0.1% |
| Other Insurance Product Line | 26,606 | 21,307 | +24.9% |
| Stable Value and Risk Solutions · RIS | 38,286 | 38,141 | +0.4% |
Show Business Segments breakouts |
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| Latin America · Pension Plans Defined Benefit | 46,741 | 41,179 | +13.5% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level2 · Estimate Of Fair Value Fair Value Disclosure | 78,803 | 72,231 | +9.1% |
Show Fair Value By Measurement Basis breakouts |
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| Carrying Reported Amount Fair Value Disclosure | 78,803 | 72,231 | +9.1% |
| Estimate Of Fair Value Fair Value Disclosure | 78,803 | 72,231 | +9.1% |
| Redeemable Noncontrolling Interest Equity Carrying Amount | 206 | — | — |
| Stockholders' Equity | |||
| Common Stock | 12 | 12 | 0.0% |
| Additional Paid-In Capital | 32,921 | 33,820 | -2.7% |
| Retained Earnings | 45,058 | 43,131 | +4.5% |
| Treasury Stock Value | -31,440 | -29,222 | -7.6% |
| Accumulated Other Comprehensive Income | -19,227 | -20,248 | +5.0% |
| Total Stockholders' Equity | 27,324 | 27,493 | -0.6% |
| Minority Interest | 271 | 262 | +3.4% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 27,595 | 27,755 | -0.6% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -1,374 | -1,416 | +3.0% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | -1,015 | 179 | -667.0% |
| Accumulated Net Unrealized Investment Gain Loss | -19,380 | -17,329 | -11.8% |
| Accumulated Other Comprehensive Income | -19,227 | -20,248 | +5.0% |
| Accumulated Translation Adjustment | -6,403 | -6,985 | +8.3% |
| Additional Paid In Capital | 32,921 | 33,820 | -2.7% |
| Aoci Liability For Future Policy Benefit Parent | 9,001 | 5,334 | +68.7% |
| Aoci Market Risk Benefit Instrument Specific Credit Risk Parent | -56 | -31 | -80.6% |
| Common Stock | 12 | 12 | 0.0% |
| Noncontrolling Interest | 271 | 262 | +3.4% |
| Parent | 27,324 | 27,493 | -0.6% |
| Retained Earnings | 45,058 | 43,131 | +4.5% |
| Treasury Stock Common | -31,440 | -29,222 | -7.6% |
| Total Liabilities & Equity | 743,211 | 688,316 | +8.0% |
| Mortgage Loans On Real Estate Commercial And Consumer Net | 83,726 | 87,908 | -4.8% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level3 · Fair Value Measurements Nonrecurring | 1,909 | 1,901 | +0.4% |
| Loans Insurance Policy | 8,455 | 8,663 | -2.4% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level3 · Estimate Of Fair Value Fair Value Disclosure | 8,949 | 9,250 | -3.3% |
Show Fair Value By Measurement Basis breakouts |
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| Carrying Reported Amount Fair Value Disclosure | 8,455 | 8,663 | -2.4% |
| Estimate Of Fair Value Fair Value Disclosure | 8,949 | 9,250 | -3.3% |
| Other Limited Partnership Interests | 14,531 | 14,137 | +2.8% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Net Cash from Operations | 2,687 | 4,262 | -37.0% |
| Investing Activities | |||
| Proceeds From Sale And Maturity Of Available For Sale Securities | 19,845 | 14,062 | +41.1% |
| Proceeds From Sale Of Equity Securities Fv Ni | 8 | 9 | -11.1% |
| Proceeds From Sale And Collection Of Mortgage Notes Receivable | 4,226 | 3,234 | +30.7% |
| Proceeds From Real Estate And Real Estate Joint Ventures | 128 | 48 | +166.7% |
| Proceeds From Limited Partnership Investments | 437 | 301 | +45.2% |
| Proceeds From Sale Maturity And Collection Of Shortterm Investments | 3,693 | 4,143 | -10.9% |
| Purchases of Investments | -23,656 | -18,359 | -28.9% |
| Payments To Acquire Equity Securities Fv Ni | -128 | -35 | -265.7% |
| Payments To Acquire Mortgage Notes Receivable | -3,608 | -1,999 | -80.5% |
| Payments To Acquire Real Estate And Real Estate Joint Ventures | -215 | -114 | -88.6% |
| Payments To Acquire Limited Partnership Interests | -381 | -278 | -37.1% |
| Payments To Acquire Short Term Investments | -4,555 | -4,443 | -2.5% |
| Cashreceivedinconnectionwithfreestandingderivatives | 601 | 803 | -25.2% |
| Cash Paid In Connection With Freestanding Derivatives | -1,458 | -1,013 | -43.9% |
| Payments For Proceeds From Policy Loans | 54 | -87 | +162.1% |
| Net Change In Other Invested Assets | -423 | 457 | -192.6% |
| Other Investing Activities | -23 | -51 | +54.9% |
| Net Cash from Investing | -5,455 | -3,322 | -64.2% |
| Financing Activities | |||
| Proceeds From Annuities And Investment Certificates | 27,366 | 28,692 | -4.6% |
| Repayments Of Annuities And Investment Certificates | -24,140 | -26,916 | +10.3% |
| Net Change In Payables For Collateral Under Securities Loaned And Other Transactions | 1,068 | 233 | +358.4% |
| Proceeds From Issuance Of Long Term Debt | 61 | 89 | -31.5% |
| Repayments Of Other Long Term Debt | -53 | -555 | +90.5% |
| Repayments Of Secured Debt | -53 | -13 | -307.7% |
| Proceeds From Repayments Of Other Long Term Debt | 1,000 | 1,000 | 0.0% |
| Payments For Proceeds From Derivative Instrument Financing Activities | -71 | -71 | 0.0% |
| Proceeds From Mortgage Loan Secured Financing | 115 | 66 | +74.2% |
| Repayments Of Mortgage Loan Secured Financing | -495 | -255 | -94.1% |
| Share Repurchases | -755 | -1,411 | +46.5% |
| Payments Of Dividends Preferred Stock And Preference Stock | -45 | -66 | +31.8% |
| Payments Of Dividends Common Stock | -372 | -374 | +0.5% |
| Proceeds From Payments For Other Financing Activities | -67 | -199 | +66.3% |
| Net Cash from Financing | 3,559 | 220 | +1517.7% |
| Debt Issuance Costs (Q) | — | — | — |
Show Long-Term Debt Type breakouts |
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| Subordinated Debt | 12 | — | — |
| Supplemental | |||
| Interest Paid | 243 | 224 | +8.5% |
| Income Taxes Paid | 231 | 147 | +57.1% |
| Noncash Or Part Noncash Acquisition Investments Acquired1 | 715 | — | — |
| Noncash Other Invested Assets Received In Connection With The Sale Of Other Limited Partnership Interests | 347 | 20 | +1635.0% |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations | -136 | 98 | -238.8% |
| Net Change in Cash | 655 | 1,258 | -47.9% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 22,687 | 21,326 | +6.4% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.