MetLife, Inc. (NYSE:MET) Q4 2023 Earnings Conference Call February 1, 2024 9:00 AM ET

Company Participants

John Hall – Global Head-Investor Relations

Michel Khalaf – President and Chief Executive Officer

John McCallion – Chief Financial Officer

Ramy Tadros – Regional President-U.S. Business and Head-MetLife Holdings

Conference Call Participants

Ryan Krueger – KBW

Suneet Kamath – Jefferies

Tom Gallagher – Evercore ISI

Jimmy Bhullar – JPMorgan

Elyse Greenspan – Wells Fargo

Alex Scott – Goldman Sachs

John Barnidge – Piper Sandler

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the MetLife Fourth Quarter 2023 Earnings Release Conference Call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session. Instructions will be given at that time. As a reminder, this conference is being recorded. Before we get started, I refer you to the cautionary note about forward-looking statements in yesterday's earnings release and to risk factors discussed in MetLife's SEC filings.

With that, I will turn the call over to John Hall, Global Head of Investor Relations.

John Hall

Thank you, operator. Good morning, everyone. We appreciate you joining us for MetLife's fourth quarter 2023 earnings and near-term outlook call. Before we begin, I'd point you to the information on non-GAAP measures on the Investor Relations portion of metlife.com, in our earnings release and in our quarterly financial supplements, which you should review. On the call this morning are Michel Khalaf, President and Chief Executive Officer; and John McCallion, Chief Financial Officer. Also participating in the discussion are other members of senior management. Last night, we released a set of supplemental slides, which addressed the quarter as well as our near-term outlook. They are available on our website. John McCallion will speak to those supplemental slides in his prepared remarks. An appendix to the slides features outlook sensitivities, disclosures, GAAP reconciliations and other information, which you should similarly review. After prepared remarks, we will have a Q&A session, which will end promptly at the top of the hour. As a reminder, please limit yourself to one question and one follow-up.

With that, over to Michel.

Michel Khalaf

Thank you, John, and good morning, everyone. As we begin 2023, I shared our conviction that despite the uncertain times, MetLife would exit the year stronger than we entered it. We accomplished this by countering the challenging environment with the actions we've taken to focus, simplify, and differentiate our business. We maintained an accelerated momentum in MetLife's diversified set of market-leading businesses, driving strong results for the year and the quarter. And we illustrated our financial strength and flexibility with sound transactions and well-timed capital management, ending the year with solid capital ratios and robust cash on hand.