Might 25 (Reuters) – MetLife Inc (MET.N) stated on Thursday it had signed a $19.20 billion reinsurance take care of retirement and life insurance coverage agency International Atlantic, and boosted its inventory buyback programme to $4 billion.
Shares of the insurer rose 1.7% in premarket commerce because it elevated its repurchase programme by $1 billion after saying earlier this month that it might buyback shares price $3 billion.
MetLife first-quarter revenue missed Wall avenue estimates on Might 3, as rising financial uncertainty impacted the insurer’s funding revenue.
The corporate expects the International Atlantic transaction, more likely to shut within the second half of 2023, to positively influence a number of of its key monetary metrics.
Reporting by Jaiveer Singh Shekhawat in Bengaluru
Enhancing by Vinay Dwivedi