(Bloomberg) — MetLife Inc., the largest U.S. life insurer, said profit climbed 68 percent in the fourth quarter as results improve in the company's home country.
Net income rose to $1.52 billion from $908 million a year earlier, the New York-based insurer said Wednesday in a statement. Operating profit, which excludes some investing results, was $1.38 a share, beating the $1.34 average estimate of 14 analysts surveyed by Bloomberg.
Chief Executive Officer Steve Kandarian, 62, has focused on cutting costs in the U.S. and limiting risks from market-linked retirement products while also expanding overseas. MetLife is targeting return on equity of 12 percent to 14 percent by 2016.
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