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August 05, 2002 at 08:00 PM
NU Online News Service, Aug. 5, 5:15 p.m. – MetLife Inc., New York, is reporting $387 million in net income for the second quarter on $8.5 billion in revenue, up from $320 million in net income on $7.8 billion in revenue for the second quarter of 2001.
Operating results, which exclude investment losses and other gains and charges, increased to $504 million, from $419 million.
The latest net income figures include $215 million in losses related to the problems at WorldCom Inc., Clinton, Miss., MetLife says.
MetLife says the gaps, or “spreads,” between the returns it earned on its own investments and the returns it promised customers actually improved during the second quarter, both for individual and group customers.
