Market Overview

MetLife Releases Annual Sustainability Report


MetLife, Inc. (NYSE:MET) today announced its responsible investment
portfolio grew to more than $52 billion in 2018, and MetLife Foundation
fulfilled its five-year commitment to provide $200 million in grants to
improve financial inclusion worldwide and expanded its focus to
financial health. Those are just two of the ways MetLife and MetLife
Foundation are making a positive impact on society, as outlined in the
company's latest sustainability report, released today.

MetLife's report, Global Impact, highlights how the company
manages Environmental, Social and Governance (ESG) issues to make a
positive impact on the world. The report includes information on
MetLife's record on climate issues and responsible investing, as well as
efforts to make its products more accessible and easier to use, enhance
customer value, and cultivate employee wellness and career development.
It also details the company's accomplishments in workplace diversity and
MetLife Foundation's work to improve financial health. Importantly, the
report provides a progress update on MetLife's ESG-related goals and
commitments established in 2015.

"The very nature of insurance provides sustainable, long-term value to
people," said Mike Zarcone, MetLife executive vice president and head of
Corporate Affairs. "Our business is to make and keep promises, sometimes
decades into the future. We live up to these promises through the
products we provide, the investments we make, and by operating
responsibly. We are pleased to highlight the impact that we make on
society in our annual Global Impact report."

Some of the ways MetLife operated as a force for good in 2018 included:

  • Paying approximately $48 billion in claims and benefits to
    policyholders, demonstrating the vital role the company plays in the
    social safety net.
  • Fueling jobs and economic growth by investing $589 billion in total
    assets under management for policyholders and clients in agriculture,
    infrastructure, real estate, and businesses of all kinds.
  • Being named to the Dow Jones Sustainability Index (North America) for
    the third year in a row.
  • Earning recognition as one of America's 100 Most JUST Companies by
    JUST Capital and Forbes for the first time. The list recognizes
    high-performing U.S. companies on the issues that Americans define as
    priorities for good corporate behavior.
  • Receiving recognition from CDP (formerly the Carbon Disclosure
    Project) for our high level of collaboration with suppliers on
    disclosing climate risks, placing MetLife on CDP's Supplier Engagement
    Leader Board.
  • Announcing a $10 million Workforce of the Future Development Fund to
    deliver learning programs to employees focused on digital skills,
    innovation and collaboration.
  • Creating a new sustainability function to bring a strategic and
    coordinated approach to the company's efforts, and appointing a Chief
    Sustainability Officer.

Global Impact is prepared in accordance with the latest standards
published by the Global Reporting Initiative (GRI), the nonprofit
organization that sets the standard for sustainability reporting. The
GRI Standards provide a globally recognized framework for companies to
measure and communicate their environmental, economic, social and
governance performance. By adhering to this framework, MetLife joins
thousands of companies around the world in quantifying the benefits and
impacts of its business activities.

To view the report, and to learn more about MetLife's sustainability
activities, please visit

About MetLife

MetLife, Inc. (NYSE:MET), through its subsidiaries and affiliates
("MetLife"), is one of the world's leading financial services companies,
providing insurance, annuities, employee benefits and asset management
to help its individual and institutional customers navigate their
changing world. Founded in 1868, MetLife has operations in more than 40
countries and holds leading market positions in the United States,
Japan, Latin America, Asia, Europe and the Middle East. For more
information, visit


This release may contain or refer to forward-looking statements.
Forward-looking statements give expectations or forecasts of the future
using terms such as "anticipate," "estimate," "expect," "project,"
"intend," "plan," "believe," "will," and other terms tied to future
periods. Results could differ materially from those expressed or
implied in the forward-looking statements.
statements are based on assumptions and expectations. They involve risks
and uncertainties, including the "Risk Factors" MetLife, Inc. describes
in its U.S. Securities and Exchange Commission filings. The company has
no obligation to correct or update any forward-looking statement. Parts
of this release may include additional information on forward-looking

The release may also contain measures that are not calculated based on
accounting principles generally accepted in the United States of
America, or GAAP. Parts of this release, the Investor Relations portion
of MetLife's website (,
or other parts of that website include information on non-GAAP financial

Explanatory Note on Non-GAAP Financial Information

Total Assets Under Management ("Total AUM") is a financial measure based
on methodologies other than accounting principles generally accepted in
the United States of America ("GAAP"). Total AUM are comprised of GA
AUM, plus Indexed SA AUM plus TP AUM (each as defined below). MetLife
believes the use of Total AUM enhances the understanding of the depth
and breadth of its investment management services on behalf of its
general account investment portfolio, separate account index investment
portfolios and unaffiliated/third party clients.

General Account Assets Under Management ("GA AUM") is a financial
measure based on methodologies other than GAAP. MetLife utilizes GA AUM
to describe assets in its general account investment portfolio which are
actively managed and stated at estimated fair value. MetLife believes
the use of GA AUM enhances the understanding and comparability of its
general account investment portfolio. GA AUM are comprised of general
account Total Investments and cash and cash equivalents, excluding
policy loans, other invested assets, contractholder-directed equity
securities and fair value option securities, as substantially all of
these assets are not actively managed in MetLife's general account
investment portfolio. Mortgage loans and certain real estate investments
included in GA AUM have been adjusted from carrying value to estimated
fair value. Classification of GA AUM by sector is based on the nature
and characteristics of the underlying investments which can vary from
how they are classified under GAAP.

Passive-Indexed Separate Account Assets Under Management ("Indexed SA
AUM") are passive-indexed insurance company separate account investment
portfolios, which are stated at estimated fair value, managed by MetLife
that track the return of industry market indices. Indexed SA AUM
represent separate account assets of MetLife insurance companies which
are included in MetLife, Inc.'s consolidated financial statements at
estimated fair value.

Third Party Assets Under Management ("TP AUM") are non-proprietary
assets managed by MetLife on behalf of unaffiliated/third party clients,
which are stated at estimated fair value. TP AUM are owned by such
unaffiliated/third party clients; accordingly, TP AUM are not included
in MetLife, Inc.'s consolidated financial statements.

MIM's investment strategy incorporates relevant environmental, social
and governance ("ESG") considerations in the decision making process to
support sustainable long-term returns. Responsible Investments are the
portion of Total Assets Under Management that include the following four
categories: Impact and Affordable Housing Investments, Green
Investments, Infrastructure Investments and Municipal Bonds (i.e.,

All Other Investments are the portion of Total Assets Under Management
that exclude Responsible Investments.

GA AUM, Total AUM and Responsible Investments are non-GAAP financial
measures and should not be viewed as substitutes for Total Investments,
the most directly comparable GAAP measure. Reconciliations of Total
Investments to GA AUM, GA AUM to Total AUM and Total AUM to Responsible
Investments are set forth in the table below. Total Investments under
GAAP includes short-term investments and excludes cash and cash

Additional information about MetLife's general account investment
portfolio is available in MetLife, Inc.'s quarterly financial materials
for the quarter ended December 31, 2018, which may be accessed through
MetLife's Investor Relations Web page at

Reconciliation of Total Investments to General
Account Assets Under Management and Total Assets Under Management and
Responsible Investments

(In billions)         12/31/2018
Total Investments $ 436.2
Plus: Cash and Cash Equivalents 15.8
Plus: Fair Value Adjustment - Mortgage loans 1.0
Plus: Fair Value Adjustment - Real Estate and Real Estate Joint
Less: Policy Loans 9.7
Less: Other Invested Assets 18.2
Less: Contractholder-Directed Equity Securities and Fair Value
Option Securities


General Account Assets Under Management $ 418.2
Plus: Passive-Indexed Separate Account Assets Under Management 14.4
Plus: Third Party Assets Under Management   156.1
Total Assets Under Management $ 588.7
Less: All Other Investments   536.1
Responsible Investments $ 52.6

Components of Responsible Investments:

Impact and Affordable Housing Investments $ 2.6
Green Investments 16.6
Infrastructure 17.1
Municipal Bonds   16.3
$ 52.6

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