NU Online News Service, Nov. 3, 2003, 5:45 p.m. EST – MetLife Inc., New York, says a big decrease in investment losses helped it increase its third quarter net income 75%.
The company is reporting $574 million in net income for the quarter on $8.8 billion in revenue, up from $328 million in net income on $8.1 billion in revenue for the third quarter of 2002.
Net income was up partly because the improving stability of corporate borrowers cut MetLife’s net realized investment losses to $151 million, from $286 million.