MetLife, Inc., New York, (NYSE:MET) reported third quarter 2011 net income of $3.6 billion, or $3.33 per share, and operating earnings of $1.2 billion, or $1.11 per share. This compares with net income of $286 million, or $0.32 per share, for third quarter of 2010.
Among other highlights from MetLife’s third quarter results:
U.S. annuity sales of $9.2 billion, up 79% over the third quarter of 2010, were driven by strong demand for variable annuities.
International sales more than doubled on a reported basis over the third quarter of 2010 and were up 25% compared with combined MetLife and Alico third quarter 2010 results.
What Your Peers Are Reading
Premiums, fees & other revenues of $12.0 billion, were up 41% over the third quarter of 2010.
National Financial Partners Corp. (NYSE: NFP), New York, reported third quarter 2011 net income of $9.3 million, or $0.21 per diluted share, compared with net income of $8.2 million, or $0.19 per diluted share, in the third quarter of 2010.
Adjusted EBITDA in the third quarter 2011 was $32.2 million, an increase of 20.0%, compared with $26.8 million in the third quarter 2010. Adjusted EBITDA margin of 12.8% in the third quarter 2011 improved compared with an adjusted EBITDA margin of 11.3% in the prior year period.
NFP revenue was $251.5 million in the third quarter 2011, an increase of $14.0 million, or 5.9%, compared with $237.5 million in the third quarter 2010. Organic revenue grew 3.3% in the third quarter 2011, compared with the prior year period. Revenue and organic revenue included positive contributions from NFP’s Corporate Client and Advisor Services Groups.