NU Online News Service, Nov. 6, 3:53 p.m. – MetLife Inc., New York, is reporting $162 million in net income for the third quarter on $8.1 billion in revenue, compared with $241 million in net income on $7.9 billion in revenue for the third quarter of 2000.
Earnings for the latest quarter include $208 million in losses related to the Sept. 11 attacks.
Sept. 11 losses had the greatest effect on the MetLife unit that sells group disability insurance. Sept. 11 losses at that unit amounted to $83 million, or more than 10% of revenue.
The unit ended up losing $44 million on $796 million in revenue, compared with $38 million in operating earnings on $696 million in revenue for the third quarter of 2000.