Current Report Filing (8-k)
August 03 2016 - 5:18PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) August 3, 2016
METLIFE, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
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1-15787
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13-4075851
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(Commission File Number)
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(IRS Employer Identification No.)
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200 Park Avenue, New York, New York
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10166-0188
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(Address of Principal Executive Offices)
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(Zip Code)
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212-578-9500
(Registrants Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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TABLE OF CONTENTS
Item 2.02 Results of Operations and Financial Condition.
On August 3, 2016, MetLife, Inc. (the Company) issued (i) a news release announcing its results for the
quarter ended June 30, 2016 (the Earnings Release), a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference and (ii) a Quarterly Financial Supplement for the quarter ended June 30, 2016
(the Quarterly Financial Supplement), a copy of which is attached hereto as Exhibit 99.2 and is incorporated herein by reference. The Earnings Release and the Quarterly Financial Supplement are furnished and not filed pursuant to
instruction B.2 of
Form 8-K.
Item 8.01 Other Events.
The Company recorded a non-cash charge in the second quarter of 2016 resulting from its annual review of
actuarial assumptions for the Retail variable annuities business. The Company accelerated its 2016 annual variable annuity actuarial assumption review from the third quarter to the second quarter in light of the Companys previously announced
plan to separate a substantial portion of its U.S. Retail business. As a result of this review, the Company has recorded a non-cash charge to net income of $2.0 billion, net of deferred acquisition costs and after tax. Approximately $1.5 billion of
this after tax charge is attributable to changes in policyholder behavior assumptions and the remainder is related to changes in economic and other actuarial assumptions. Also as a result of this review, the Company has recorded a non-cash benefit
to U.S. Statutory net income of $0.266 billion, net of tax.
The U.S. GAAP and U.S. Statutory impacts for the
quarter ended June 30, 2016 on the legal entities below are as follows:
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Net Income Impact
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$in Billions
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U.S.
GAAP
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U.S.
Statutory
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Metropolitan Life Insurance Company
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$
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(0.370
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)
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$
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(0.014
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)
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MetLife Insurance Company USA
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$
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(1.660
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)
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$
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0.280
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Other subsidiaries
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$
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0.018
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Total
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$
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(2.012
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)
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$
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0.266
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Item 9.01 Financial Statements and Exhibits.
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99.1
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News release of MetLife, Inc., dated August 3, 2016, announcing its results for the quarter ended June 30, 2016
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99.2
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Quarterly Financial Supplement for the quarter ended June 30, 2016
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3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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METLIFE, INC.
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By:
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/s/ Timothy J. Ring
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Name:
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Timothy J. Ring
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Title:
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Senior Vice President and Secretary
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Date: August 3, 2016
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EXHIBIT INDEX
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EXHIBIT
NUMBER
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EXHIBIT
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99.1
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News release of MetLife, Inc., dated August 3, 2016, announcing its results for the quarter ended June 30, 2016
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99.2
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Quarterly Financial Supplement for the quarter ended June 30, 2016
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