Third Quarter
Financial Supplement

September 30, 2010

© 2010 Peanuts Worldwide LLC

METLIFE, INC.
TABLE OF CONTENTS

HIGHLIGHTS
Corporate Overview	2
METLIFE, INC.
Consolidated Balance Sheets	3
Consolidated Statements of Operating Earnings Available to Common Shareholders	4
Consolidating Balance Sheet	5
Consolidating Balance Sheet - U.S. Business	6
Consolidating Statement of Operating Earnings Available to Common Shareholders	7
SUMMARY OF SEGMENT OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	11
U.S. BUSINESS - INSURANCE PRODUCTS
Statements of Operating Earnings Available to Common Shareholders	12
Future Policy Benefits and Policyholder Account Balances; and Separate Account Liabilities	16
Other Expenses by Major Category and Individual Life Sales by Product	17
Spread by Product	18
U.S. BUSINESS - RETIREMENT PRODUCTS
Statements of Operating Earnings Available to Common Shareholders	19
Future Policy Benefits and Policyholder Account Balances; and Separate Account Liabilities	20
Other Expenses by Major Category and Individual Annuity Sales by Product	21
Spread	22
U.S. BUSINESS - CORPORATE BENEFIT FUNDING
Statements of Operating Earnings Available to Common Shareholders	23
Future Policy Benefits and Policyholder Account Balances; and Separate Account Liabilities	24
Other Expenses by Major Category	25
Spread	26
U.S. BUSINESS - AUTO & HOME
Statements of Operating Earnings Available to Common Shareholders	27
Written Premiums by Product and Selected Financial Information and Supplemental Data	30
INTERNATIONAL
Statements of Operating Earnings Available to Common Shareholders	31
BANKING, CORPORATE & OTHER
Statements of Operating Earnings Available to Common Shareholders	35
Banking - Supplemental Information	38
INVESTMENTS
Investment Results by Asset Category and Annualized Yields	39
Fixed Maturity Securities and Equity Securities Available-for-Sale Gross Unrealized Gains and Losses Aging Schedules	41
Summary of Fixed Maturity Securities Available-for-Sale by Sector and Quality Distribution and Summary of Commercial Mortgage Loans by Region and Property Type	42
Summary of Real Estate and Real Estate Joint Ventures and Summary of Mortgage Loans	43

NOTE:

This Quarterly Financial Supplement (“QFS”) includes certain operating and statistical measures, such as sales and product spreads, among others, to provide supplemental data regarding the performance of our current business. This QFS also includes financial measures, such as operating earnings, operating revenues, operating expenses, operating earnings available to common shareholders and operating earnings available to common shareholders per diluted common share, which do not equate to and should not be viewed as substitutes for generally accepted accounting principles (“GAAP”) net income (loss) from continuing operations, net of income tax, GAAP revenues, GAAP expenses, GAAP net income (loss) available to MetLife, Inc.’s common shareholders and GAAP net income (loss) available to MetLife, Inc.’s common shareholders per diluted common share, respectively. Operating earnings is the measure of segment profit or loss we use to evaluate segment performance and allocate resources and, consistent with GAAP accounting guidance for segment reporting, is our measure of segment performance. Operating earnings is also a measure by which MetLife’s senior management’s and other employees’ performance is evaluated for the purposes of determining their compensation under applicable compensation plans.

Operating earnings is defined as operating revenues less operating expenses, net of income tax. Operating earnings available to common shareholders is defined as operating earnings less preferred stock dividends and operating earnings available to common shareholders per diluted common share is calculated by dividing operating earnings available to common shareholders by the number of weighted average diluted common shares outstanding for the period indicated.

Operating revenues is defined as GAAP revenues (i) less net investment gains (losses) and net derivatives gains (losses), (ii) less amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses), (iii) plus scheduled periodic settlement payments on derivatives that are hedges of investments but do not qualify for hedge accounting treatment, (iv) plus income from discontinued real estate operations and (v) plus, for operating joint ventures reported under the equity method of accounting, the aforementioned adjustments, those identified in the definition of operating expenses and changes in fair value of hedges of operating joint venture liabilities, all net of income tax.

Operating expenses is defined as GAAP expenses (i) less changes in policyholder benefits associated with asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities, (ii) less costs related to business combinations and noncontrolling interests, (iii) less amortization of deferred policy acquisition costs (“DAC”) and value of business acquired (“VOBA”) and changes in the policyholder dividend obligation related to net investment gains (losses) and net derivatives gains (losses) and (iv) plus scheduled periodic settlement payments on derivatives that are hedges of policyholder account balances but do not qualify for hedge accounting treatment.

In addition, operating revenues and operating expenses do not reflect the consolidation of certain securitization entities that are variable interest entities (“VIEs”) as required under GAAP.

MetLife believes the presentation of operating earnings as we measure it for management purposes enhances the understanding of its performance by highlighting the results from operations and the underlying profitability drivers of the business. Reconciliations of operating earnings to GAAP net income (loss) from continuing operations, net of income tax, operating earnings available to common shareholders to GAAP net income (loss) available to MetLife, Inc.’s common shareholders and operating earnings available to common shareholders per diluted common share to GAAP net income (loss) available to MetLife, Inc.’s common shareholders per diluted common share, the most directly comparable GAAP measures, are included in the QFS and in MetLife’s earnings press release dated October 28, 2010, for the three months ended September 30, 2010, which are available at www.metlife.com.

1

METLIFE, INC.

CORPORATE OVERVIEW

	For the Three Months Ended
	September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions, except per share data)	2009			2009			2010			2010			2010
Operating earnings available to common shareholders	$	718		$	793		$	834		$	1,022		$	878
Preferred stock dividends		30			31			30			31			30
Operating earnings		748			824			864			1,053			908
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)		(732	)		(116	)		31			(13	)		(342	)
Net derivatives gains (losses)		(1,407	)		(782	)		41			1,481			(244	)
Adjustments to continuing operations		46			6			(121	)		(563	)		(307	)
Provision for income tax (expense) benefit		721			378			18			(417	)		307
Income (loss) from continuing operations, net of income tax		(624	)		310			833			1,541			322
Income (loss) from discontinued operations, net of income tax		(1	)		3			1			6			(2	)
Net income (loss)		(625	)		313			834			1,547			320
Less: Net income (loss) attributable to noncontrolling interest		(5	)		(7	)		(1	)		(10	)		4
Net income (loss) attributable to MetLife, Inc.		(620	)		320			835			1,557			316
Less: Preferred stock dividends		30			31			30			31			30
Net income (loss) available to MetLife, Inc.’s common shareholders	$	(650	)	$	289		$	805		$	1,526		$	286
Operating earnings available to common shareholders — diluted	$	0.87		$	0.96		$	1.01		$	1.23		$	0.99
Net investment gains (losses)		(0.88	)		(0.14	)		0.04			(0.02	)		(0.39	)
Net derivatives gains (losses)		(1.71	)		(0.94	)		0.05			1.79			(0.28	)
Adjustments to continuing operations		0.06			0.01			(0.15	)		(0.68	)		(0.35	)
Provision for income tax (expense) benefit		0.86			0.45			0.02			(0.50	)		0.35
Discontinued operations, net of income tax		—			—			—			0.01			—
Less: Net income (loss) attributable to noncontrolling interest		(0.01	)		(0.01	)		—			(0.01	)		—
Net income (loss) available to MetLife, Inc.’s common shareholders per common share — diluted	$	(0.79	)	$	0.35		$	0.97		$	1.84		$	0.32
Weighted average common shares outstanding — diluted		827.3			828.0			828.6			830.5			883.1
	September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited	2009			2009			2010			2010			2010
Book value per common share — (actual common shares outstanding)	$	39.36		$	37.96		$	41.21		$	45.51		$	48.93
Book value per common share, excluding accumulated other comprehensive income (loss) — (actual common shares outstanding)	$	42.09		$	41.69		$	42.67		$	44.50		$	44.48
Book value per common share — diluted — (weighted average common shares outstanding)	$	38.95		$	37.54		$	40.75		$	44.95		$	50.25
Book value per common share, excluding accumulated other comprehensive income (loss) — diluted — (weighted average common shares outstanding)	$	41.65		$	41.23		$	42.19		$	43.96		$	45.68
	For the Three Months Ended
	September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)	2009			2009			2010			2010			2010
Common shares outstanding, beginning of period		818.6			818.8			818.8			819.4			820.4
Treasury stock, net		0.2			—			0.3			—			—
Newly issued shares		—			—			0.3			1.0			86.5
Common shares outstanding, end of period		818.8			818.8			819.4			820.4			906.9
Weighted average common shares outstanding — basic		821.8			821.9			822.6			822.9			875.8
Dilutive effect of stock-based awards		5.5			6.1			6.0			7.6			7.3
Weighted average common shares outstanding — diluted		827.3			828.0			828.6			830.5			883.1
Policyholder Trust Shares		236.8			233.2			229.9			227.4			225.9

2

METLIFE, INC.

CONSOLIDATED BALANCE SHEETS

	September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)	2009			2009			2010			2010			2010
ASSETS
Investments:
Fixed maturity securities available-for-sale, at estimated fair value	$	223,896		$	227,642		$	239,566		$	246,348		$	260,564
Equity securities available-for-sale, at estimated fair value		3,117			3,084			3,066			2,741			2,865
Trading securities, at estimated fair value (1)		1,970			2,384			3,039			3,158			3,987
Mortgage loans:
Held-for-investment, at amortized cost (1)		48,239			48,181			55,433			55,601			57,098
Held-for-sale, principally at estimated fair value		2,442			2,728			2,003			2,650			2,840
Mortgage loans, net		50,681			50,909			57,436			58,251			59,938
Policy loans		10,001			10,061			10,146			10,180			10,230
Real estate and real estate joint ventures		6,982			6,852			6,821			6,832			6,981
Real estate held-for-sale		50			44			45			9			9
Other limited partnership interests		5,255			5,508			5,753			5,856			5,948
Short-term investments		6,861			8,374			8,019			9,746			11,590
Other invested assets		13,916			12,709			12,327			15,584			16,571
Total investments		322,729			327,567			346,218			358,705			378,683
Cash and cash equivalents (1)		15,562			10,112			9,202			10,702			14,557
Accrued investment income		3,236			3,173			3,392			3,249			3,469
Premiums, reinsurance and other receivables		16,903			16,752			17,554			18,177			18,654
Deferred policy acquisition costs and value of business acquired		19,208			19,256			18,697			17,720			17,463
Current income tax recoverable		412			316			—			243			178
Deferred income tax assets		535			1,228			149			—			—
Goodwill		5,033			5,047			5,049			5,037			4,966
Other assets		7,140			6,822			6,869			6,712			6,913
Separate account assets		144,434			149,041			158,436			153,362			172,372
Total assets	$	535,192		$	539,314		$	565,566		$	573,907		$	617,255
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Future policy benefits	$	134,492		$	135,879		$	137,516		$	140,239		$	143,686
Policyholder account balances		139,171			138,673			141,734			142,822			145,360
Other policyholder funds		8,549			8,446			8,682			8,660			8,912
Policyholder dividends payable		911			761			745			775			834
Policyholder dividend obligation		—			—			—			1,080			2,014
Payables for collateral under securities loaned and other transactions		24,363			24,196			25,982			29,772			31,891
Bank deposits		8,372			10,211			10,032			9,790			9,362
Short-term debt		2,131			912			318			879			2,057
Long-term debt (1)		13,202			13,220			20,177			20,647			24,512
Collateral financing arrangements		5,297			5,297			5,297			5,297			5,297
Junior subordinated debt securities		3,191			3,191			3,191			3,191			3,191
Current income tax payable		—			—			66			—			—
Deferred income tax liability		—			—			—			2,050			3,543
Other liabilities		16,486			15,989			17,211			15,619			17,455
Separate account liabilities		144,434			149,041			158,436			153,362			172,372
Total liabilities		500,599			505,816			529,387			534,183			570,486
Stockholders’ Equity
Preferred stock, at par value		1			1			1			1			1
Common stock, at par value		8			8			8			8			9
Additional paid-in capital		16,865			16,859			16,871			16,896			20,451
Retained earnings		19,822			19,501			20,294			21,820			22,096
Treasury stock, at cost		(194	)		(190	)		(172	)		(172	)		(172	)
Accumulated other comprehensive income (loss)		(2,234	)		(3,058	)		(1,191	)		822			4,030
Total MetLife, Inc.’s stockholders’ equity		34,268			33,121			35,811			39,375			46,415
Noncontrolling interests		325			377			368			349			354
Total equity		34,593			33,498			36,179			39,724			46,769
Total liabilities and stockholders’ equity	$	535,192		$	539,314		$	565,566		$	573,907		$	617,255

(1) At March 31, 2010, June 30, 2010 and September 30, 2010, $7,377 million, $7,391 million and $7,371 million, respectively, of assets and $7,106 million, $7,129 million and $7,075 million, respectively, of liabilities related to certain securitization entities that are required to be consolidated under GAAP. See pages 39 and 40, note 3 for the amounts by asset category.

3

METLIFE, INC.

CONSOLIDATED STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended
	September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)	2009			2009			2010			2010			2010
OPERATING REVENUES
Premiums	$	6,601		$	7,161		$	6,854		$	6,662		$	6,562
Universal life and investment-type product policy fees		1,255			1,559			1,408			1,478			1,453
Net investment income		3,956			4,000			4,293			4,143			4,337
Other revenues		602			601			513			544			624
Total operating revenues		12,414			13,321			13,068			12,827			12,976
OPERATING EXPENSES
Policyholder benefits and dividends		7,549			7,986			7,890			7,256			7,615
Interest credited to policyholder account balances		1,259			1,195			1,146			1,048			1,261
Interest credited to bank deposits		37			43			39			36			33
Capitalization of DAC		(722	)		(754	)		(744	)		(767	)		(778	)
Amortization of DAC and VOBA		376			564			588			808			542
Interest expense		274			269			264			266			294
Other expenses		2,723			2,947			2,645			2,714			2,723
Total operating expenses		11,496			12,250			11,828			11,361			11,690
Operating earnings before provision for income tax		918			1,071			1,240			1,466			1,286
Provision for income tax expense (benefit)		170			247			376			413			378
Operating earnings		748			824			864			1,053			908
Preferred stock dividends		30			31			30			31			30
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	718		$	793		$	834		$	1,022		$	878
Net Income Reconciliation
Operating earnings	$	748		$	824		$	864		$	1,053		$	908
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)		(732	)		(116	)		31			(13	)		(342	)
Net derivatives gains (losses)		(1,407	)		(782	)		41			1,481			(244	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)		(4	)		(6	)		(1	)		7			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		4			(29	)		(49	)		(61	)		(62	)
Equity method operating joint ventures		(35	)		(45	)		(5	)		(97	)		—
Real estate discontinued operations		(2	)		(2	)		(1	)		(1	)		13
Net investment income related to certain consolidated securitization entities		—			—			106			103			103
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities		(63	)		(2	)		(24	)		(150	)		(174	)
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		1			1			3			(1	)		(5	)
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)		174			95			(14	)		(212	)		(37	)
Interest expense — related to certain consolidated securitization entities		—			—			(106	)		(103	)		(103	)
Other expenses:
Noncontrolling interest		(7	)		(8	)		(1	)		(12	)		4
Business combination costs		(22	)		2			(29	)		(36	)		(46	)
Provision for income tax (expense) benefit		721			378			18			(417	)		307
Income (loss) from continuing operations, net of income tax		(624	)		310			833			1,541			322
Income (loss) from discontinued operations, net of income tax		(1	)		3			1			6			(2	)
Net income (loss)		(625	)		313			834			1,547			320
Less: Net income (loss) attributable to noncontrolling interest		(5	)		(7	)		(1	)		(10	)		4
Net income (loss) attributable to MetLife, Inc.		(620	)		320			835			1,557			316
Less: Preferred stock dividends		30			31			30			31			30
Net income (loss) available to MetLife, Inc.’s common shareholders	$	(650	)	$	289		$	805		$	1,526		$	286
Premiums, Fees and Other Revenues	$	8,458		$	9,321		$	8,775		$	8,684		$	8,639

4

METLIFE, INC.

CONSOLIDATING BALANCE SHEET

	September 30, 2010
										Banking,
Unaudited (In millions)	Consolidated			U.S. Business			International			Corporate & Other (1)
ASSETS
Total investments (1)	$	378,683		$	288,602		$	25,018		$	65,063
Cash and cash equivalents (1)		14,557			2,028			1,864			10,665
Accrued investment income		3,469			2,766			346			357
Premiums, reinsurance and other receivables		18,654			11,100			1,138			6,416
Deferred policy acquisition costs and value of business acquired		17,463			14,365			3,092			6
Current income tax recoverable		178			537			(60	)		(299	)
Deferred income tax assets		—			—			—			—
Goodwill		4,966			4,163			333			470
Other assets		6,913			4,443			507			1,963
Separate account assets		172,372			163,289			9,083			—
Total assets	$	617,255		$	491,293		$	41,321		$	84,641
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Future policy benefits	$	143,686		$	125,287		$	12,769		$	5,630
Policyholder account balances		145,360			134,388			10,925			47
Other policyholder funds		8,912			6,582			1,943			387
Policyholder dividends payable		834			834			—			—
Policyholder dividend obligation		2,014			2,014			—			—
Payables for collateral under securities loaned and other transactions		31,891			17,784			35			14,072
Bank deposits		9,362			—			—			9,362
Short-term debt		2,057			—			13			2,044
Long-term debt (1)		24,512			104			51			24,357
Collateral financing arrangements		5,297			—			—			5,297
Junior subordinated debt securities		3,191			—			—			3,191
Current income tax payable		—			—			—			—
Deferred income tax liability		3,543			3,652			(165	)		56
Other liabilities		17,455			10,789			1,127			5,539
Separate account liabilities		172,372			163,289			9,083			—
Total liabilities		570,486			464,723			35,781			69,982
Stockholders’ Equity
Preferred stock, at par value		1			—			—			1
Common stock, at par value		9			—			—			9
Allocated equity (2)		42,547			23,953			4,505			14,089
Treasury stock, at cost		(172	)		—			—			(172	)
Accumulated other comprehensive income (loss)		4,030			2,620			832			578
Total MetLife, Inc.’s stockholders’ equity		46,415			26,573			5,337			14,505
Noncontrolling interests		354			(3	)		203			154
Total equity		46,769			26,570			5,540			14,659
Total liabilities and stockholders’ equity	$	617,255		$	491,293		$	41,321		$	84,641

(1)	At September 30, 2010, $7,371 million of assets and $7,075 million of liabilities related to certain securitization entities that are required to be consolidated under GAAP. See pages 39 and 40, note 3 for the amounts by asset category.
(2)	Allocated equity includes additional paid-in capital and retained earnings.

5

METLIFE, INC.

CONSOLIDATING BALANCE SHEET — U.S. BUSINESS

	September 30, 2010
				Insurance			Retirement			Corporate Benefit
Unaudited (In millions)	U.S. Business			Products			Products			Funding			Auto & Home
ASSETS
Total investments	$	288,602		$	112,494		$	54,735		$	117,434		$	3,939
Cash and cash equivalents		2,028			816			467			691			54
Accrued investment income		2,766			1,142			524			1,043			57
Premiums, reinsurance and other receivables		11,100			6,950			816			2,291			1,043
Deferred policy acquisition costs and value of business acquired		14,365			8,886			5,208			79			192
Current income tax recoverable		537			192			267			62			16
Deferred income tax assets		—			—			—			—			—
Goodwill		4,163			1,414			1,692			900			157
Other assets		4,443			1,926			1,709			447			361
Separate account assets		163,289			9,032			97,538			56,719			—
Total assets	$	491,293		$	142,852		$	162,956		$	179,666		$	5,819
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Future policy benefits	$	125,287		$	72,035		$	4,482		$	45,715		$	3,055
Policyholder account balances		134,388			29,182			48,062			57,144			—
Other policyholder funds		6,582			6,039			116			251			176
Policyholder dividends payable		834			834			—			—			—
Policyholder dividend obligation		2,014			2,014			—			—			—
Payables for collateral under securities loaned and other transactions		17,784			4,280			3,015			10,489			—
Bank deposits		—			—			—			—			—
Short-term debt		—			—			—			—			—
Long-term debt		104			(6	)		8			102			—
Collateral financing arrangements		—			—			—			—			—
Junior subordinated debt securities		—			—			—			—			—
Current income tax payable		—			—			—			—			—
Deferred income tax liability		3,652			3,281			1,788			(1,394	)		(23	)
Other liabilities		10,789			5,652			996			3,439			702
Separate account liabilities		163,289			9,032			97,538			56,719			—
Total liabilities		464,723			132,343			156,005			172,465			3,910
Stockholders’ Equity
Preferred stock, at par value		—			—			—			—			—
Common stock, at par value		—			—			—			—			—
Allocated equity (1)		23,953			9,355			6,345			6,420			1,833
Treasury stock, at cost		—			—			—			—			—
Accumulated other comprehensive income (loss)		2,620			1,155			607			782			76
Total MetLife, Inc.’s stockholders’ equity		26,573			10,510			6,952			7,202			1,909
Noncontrolling interests		(3	)		(1	)		(1	)		(1	)		—
Total equity		26,570			10,509			6,951			7,201			1,909
Total liabilities and stockholders’ equity	$	491,293		$	142,852		$	162,956		$	179,666		$	5,819

(1) Allocated equity includes additional paid-in capital and retained earnings.

6

METLIFE, INC.

CONSOLIDATING STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended September 30, 2010
											Banking,
Unaudited (In millions)		Consolidated			U.S. Business			International			Corporate & Other
OPERATING REVENUES
Premiums		$	6,562		$	5,603		$	956		$	3
Universal life and investment-type product policy fees			1,453			1,151			302			—
Net investment income			4,337			3,638			474			225
Other revenues			624			308			7			309
Total operating revenues			12,976			10,700			1,739			537
OPERATING EXPENSES
Policyholder benefits and dividends			7,615			6,767			852			(4	)
Interest credited to policyholder account balances			1,261			1,017			244			—
Interest credited to bank deposits			33			—			—			33
Capitalization of DAC			(778	)		(598	)		(180	)		—
Amortization of DAC and VOBA			542			433			110			(1	)
Interest expense			294			3			(1	)		292
Other expenses			2,723			1,926			519			278
Total operating expenses			11,690			9,548			1,544			598
Operating earnings before provision for income tax			1,286			1,152			195			(61	)
Provision for income tax expense (benefit)			378			388			4			(14	)
Operating earnings			908			764			191			(47	)
Preferred stock dividends			30			—			—			30
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	878		$	764		$	191		$	(77	)
Net Income Reconciliation
Operating earnings		$	908		$	764		$	191		$	(47	)
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(342	)		125			(239	)		(228	)
Net derivatives gains (losses)			(244	)		5			(109	)		(140	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			(62	)		(55	)		(11	)		4
Equity method operating joint ventures			—			—			—			—
Real estate discontinued operations			13			—			—			13
Net investment income related to certain consolidated securitization entities			103			—			—			103
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			(174	)		(36	)		(138	)		—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			(5	)		(5	)		—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			(37	)		(37	)		—			—
Interest expense — related to certain consolidated securitization entities			(103	)		—			—			(103	)
Other expenses:
Noncontrolling interest			4			—			4			—
Business combination costs			(46	)		—			—			(46	)
Provision for income tax (expense) benefit			307			2			169			136
Income (loss) from continuing operations, net of income tax			322			763			(133	)		(308	)
Income (loss) from discontinued operations, net of income tax			(2	)		1			—			(3	)
Net income (loss)			320			764			(133	)		(311	)
Less: Net income (loss) attributable to noncontrolling interest			4			—			4			—
Net income (loss) attributable to MetLife, Inc.			316			764			(137	)		(311	)
Less: Preferred stock dividends			30			—			—			30
Net income (loss) available to MetLife, Inc.’s common shareholders		$	286		$	764		$	(137	)	$	(341	)
Premiums, Fees and Other Revenues		$	8,639		$	7,062		$	1,265		$	312

7

METLIFE, INC.
CONSOLIDATING STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended September 30, 2009
											Banking,
Unaudited (In millions)		Consolidated			U.S. Business			International			Corporate & Other
OPERATING REVENUES
Premiums		$	6,601		$	5,728		$	868		$	5
Universal life and investment-type product policy fees			1,255			1,033			222			—
Net investment income			3,956			3,441			395			120
Other revenues			602			324			4			274
Total operating revenues			12,414			10,526			1,489			399
OPERATING EXPENSES
Policyholder benefits and dividends			7,549			6,844			705			—
Interest credited to policyholder account balances			1,259			1,061			198			—
Interest credited to bank deposits			37			—			—			37
Capitalization of DAC			(722	)		(558	)		(164	)		—
Amortization of DAC and VOBA			376			297			79			—
Interest expense			274			1			3			270
Other expenses			2,723			1,945			481			297
Total operating expenses			11,496			9,590			1,302			604
Operating earnings before provision for income tax			918			936			187			(205	)
Provision for income tax expense (benefit)			170			303			34			(167	)
Operating earnings			748			633			153			(38	)
Preferred stock dividends			30			—			—			30
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	718		$	633		$	153		$	(68	)
Net Income Reconciliation
Operating earnings		$	748		$	633		$	153		$	(38	)
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(732	)		(542	)		(18	)		(172	)
Net derivatives gains (losses)			(1,407	)		(506	)		(556	)		(345	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			(4	)		(4	)		—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			4			(5	)		(3	)		12
Equity method operating joint ventures			(35	)		—			(35	)		—
Real estate discontinued operations			(2	)		(2	)		—			—
Net investment income related to certain consolidated securitization entities			—			—			—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			(63	)		(39	)		(24	)		—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			1			1			—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			174			174			—			—
Interest expense — related to certain consolidated securitization entities			—			—			—			—
Other expenses:
Noncontrolling interest			(7	)		—			(7	)		—
Business combination costs			(22	)		—			—			(22	)
Provision for income tax (expense) benefit			721			327			207			187
Income (loss) from continuing operations, net of income tax			(624	)		37			(283	)		(378	)
Income (loss) from discontinued operations, net of income tax			(1	)		1			—			(2	)
Net income (loss)			(625	)		38			(283	)		(380	)
Less: Net income (loss) attributable to noncontrolling interest			(5	)		—			(5	)		—
Net income (loss) attributable to MetLife, Inc.			(620	)		38			(278	)		(380	)
Less: Preferred stock dividends			30			—			—			30
Net income (loss) available to MetLife, Inc.’s common shareholders		$	(650	)	$	38		$	(278	)	$	(410	)
Premiums, Fees and Other Revenues		$	8,458		$	7,085		$	1,094		$	279

8

METLIFE, INC.
CONSOLIDATING STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Nine Months Ended September 30, 2010
											Banking,
Unaudited (In millions)		Consolidated			U.S. Business			International			Corporate & Other
OPERATING REVENUES
Premiums		$	20,078		$	17,328		$	2,744		$	6
Universal life and investment-type product policy fees			4,339			3,431			908			—
Net investment income			12,773			10,861			1,221			691
Other revenues			1,681			916			12			753
Total operating revenues			38,871			32,536			4,885			1,450
OPERATING EXPENSES
Policyholder benefits and dividends			22,761			20,243			2,529			(11	)
Interest credited to policyholder account balances			3,455			3,018			437			—
Interest credited to bank deposits			108			—			—			108
Capitalization of DAC			(2,289	)		(1,749	)		(540	)		—
Amortization of DAC and VOBA			1,938			1,609			330			(1	)
Interest expense			824			7			2			815
Other expenses			8,082			5,723			1,534			825
Total operating expenses			34,879			28,851			4,292			1,736
Operating earnings before provision for income tax			3,992			3,685			593			(286	)
Provision for income tax expense (benefit)			1,167			1,246			106			(185	)
Operating earnings			2,825			2,439			487			(101	)
Preferred stock dividends			91			—			—			91
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	2,734		$	2,439		$	487		$	(192	)
Net Income Reconciliation
Operating earnings		$	2,825		$	2,439		$	487		$	(101	)
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(324	)		282			(268	)		(338	)
Net derivatives gains (losses)			1,278			1,208			157			(87	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			6			6			—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			(172	)		(159	)		(33	)		20
Equity method operating joint ventures			(102	)		—			(102	)		—
Real estate discontinued operations			11			(2	)		—			13
Net investment income related to certain consolidated securitization entities			312			—			—			312
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			(348	)		(77	)		(271	)		—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			(3	)		(3	)		—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			(263	)		(263	)		—			—
Interest expense — related to certain consolidated securitization entities			(312	)		—			—			(312	)
Other expenses:
Noncontrolling interest			(9	)		2			(7	)		(4	)
Business combination costs			(111	)		—			—			(111	)
Provision for income tax (expense) benefit			(92	)		(356	)		87			177
Income (loss) from continuing operations, net of income tax			2,696			3,077			50			(431	)
Income (loss) from discontinued operations, net of income tax			5			8			—			(3	)
Net income (loss)			2,701			3,085			50			(434	)
Less: Net income (loss) attributable to noncontrolling interest			(7	)		1			(6	)		(2	)
Net income (loss) attributable to MetLife, Inc.			2,708			3,084			56			(432	)
Less: Preferred stock dividends			91			—			—			91
Net income (loss) available to MetLife, Inc.’s common shareholders		$	2,617		$	3,084		$	56		$	(523	)
Premiums, Fees and Other Revenues		$	26,098		$	21,675		$	3,664		$	759

9

METLIFE, INC.

CONSOLIDATING STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Nine Months Ended September 30, 2009
										Banking,
Unaudited (In millions)	Consolidated			U.S. Business			International			Corporate & Other
OPERATING REVENUES
Premiums	$	19,299		$	16,922		$	2,366		$	11
Universal life and investment-type product policy fees		3,671			3,013			658			—
Net investment income		11,089			9,861			922			306
Other revenues		1,728			898			8			822
Total operating revenues		35,787			30,694			3,954			1,139
OPERATING EXPENSES
Policyholder benefits and dividends		21,916			20,060			1,853			3
Interest credited to policyholder account balances		3,658			3,223			435			—
Interest credited to bank deposits		120			—			—			120
Capitalization of DAC		(2,265	)		(1,816	)		(449	)		—
Amortization of DAC and VOBA		1,454			1,180			272			2
Interest expense		775			7			6			762
Other expenses		8,045			5,877			1,253			915
Total operating expenses		33,703			28,531			3,370			1,802
Operating earnings before provision for income tax		2,084			2,163			584			(663	)
Provision for income tax expense (benefit)		421			693			142			(414	)
Operating earnings		1,663			1,470			442			(249	)
Preferred stock dividends		91			—			—			91
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	1,572		$	1,470		$	442		$	(340	)
Net Income Reconciliation
Operating earnings	$	1,663		$	1,470		$	442		$	(249	)
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)		(2,790	)		(2,442	)		(78	)		(270	)
Net derivatives gains (losses)		(4,084	)		(3,097	)		(543	)		(444	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)		(21	)		(21	)		—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		(59	)		(69	)		(3	)		13
Equity method operating joint ventures		(111	)		—			(111	)		—
Real estate discontinued operations		(5	)		(5	)		—			—
Net investment income related to certain consolidated securitization entities		—			—			—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)		(11	)		(11	)		—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities		(71	)		(64	)		(7	)		—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		3			3			—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)		616			616			—			—
Interest expense — related to certain consolidated securitization entities		—			—			—			—
Other expenses:
Noncontrolling interest		(30	)		—			(21	)		(9	)
Business combination costs		(33	)		—			—			(33	)
Provision for income tax (expense) benefit		2,305			1,781			259			265
Income (loss) from continuing operations, net of income tax		(2,628	)		(1,839	)		(62	)		(727	)
Income (loss) from discontinued operations, net of income tax		37			27			—			10
Net income (loss)		(2,591	)		(1,812	)		(62	)		(717	)
Less: Net income (loss) attributable to noncontrolling interest		(25	)		—			(19	)		(6	)
Net income (loss) attributable to MetLife, Inc.		(2,566	)		(1,812	)		(43	)		(711	)
Less: Preferred stock dividends		91			—			—			91
Net income (loss) available to MetLife, Inc.’s common shareholders	$	(2,657	)	$	(1,812	)	$	(43	)	$	(802	)
Premiums, Fees and Other Revenues	$	24,698		$	20,833		$	3,032		$	833

10

METLIFE, INC.
SUMMARY OF SEGMENT OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS (1)

	For the Three Months Ended
	September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)	2009			2009			2010			2010			2010
U.S. BUSINESS
INSURANCE PRODUCTS	$	302		$	400		$	298		$	369		$	345
RETIREMENT PRODUCTS		105			207			159			238			149
CORPORATE BENEFIT FUNDING		140			191			228			238			189
AUTO & HOME		86			84			72			73			81
U.S. BUSINESS TOTAL	$	633		$	882		$	757		$	918		$	764
INTERNATIONAL		153			21			151			145			191
BANKING, CORPORATE & OTHER		(68	)		(110	)		(74	)		(41	)		(77	)
METLIFE, INC. CONSOLIDATED	$	718		$	793		$	834		$	1,022		$	878

(1) A reconciliation of operating earnings available to common shareholders to net income (loss) available to MetLife, Inc.’s common shareholders for each segment appears in the QFS as follows:
(i) Insurance Products, page 12, (ii) Retirement Products, page 19, (iii) Corporate Benefit Funding, page 23, (iv) Auto & Home, page 27, (v) International, page 31, and (vi) Banking, Corporate & Other, page 35. A consolidated reconciliation of operating earnings available to common shareholders to net income (loss) for MetLife, Inc. appears on page 4.

11

U.S. BUSINESS

INSURANCE PRODUCTS

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended															For the Year-to-Date Period Ended
	September 30,			December 31,			March 31,			June 30,			September 30,			September 30,			September 30,
Unaudited (In millions)	2009			2009			2010			2010			2010			2009			2010
OPERATING REVENUES
Premiums	$	4,222		$	4,510		$	4,323		$	4,317		$	4,234		$	12,658		$	12,874
Universal life and investment-type product policy fees		533			622			549			546			539			1,659			1,634
Net investment income		1,437			1,483			1,504			1,495			1,515			4,131			4,514
Other revenues		221			200			189			188			185			579			562
Total operating revenues		6,413			6,815			6,565			6,546			6,473			19,027			19,584
OPERATING EXPENSES
Policyholder benefits and dividends		4,745			4,918			4,847			4,721			4,685			14,193			14,253
Interest credited to policyholder account balances		240			248			234			237			243			704			714
Interest credited to bank deposits		—			—			—			—			—			—			—
Capitalization of DAC		(218	)		(236	)		(206	)		(217	)		(204	)		(637	)		(627	)
Amortization of DAC and VOBA		145			209			239			206			221			516			666
Interest expense		—			3			—			—			—			3			—
Other expenses		1,048			1,074			992			1,031			998			3,132			3,021
Total operating expenses		5,960			6,216			6,106			5,978			5,943			17,911			18,027
Operating earnings before provision for income tax		453			599			459			568			530			1,116			1,557
Provision for income tax expense (benefit)		151			199			161			199			185			374			545
Operating earnings		302			400			298			369			345			742			1,012
Preferred stock dividends		—			—			—			—			—			—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	302		$	400		$	298		$	369		$	345		$	742		$	1,012
Net Income Reconciliation
Operating earnings	$	302		$	400		$	298		$	369		$	345		$	742		$	1,012
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)		(137	)		48			13			(4	)		69			(520	)		78
Net derivatives gains (losses)		(2	)		(253	)		20			605			86			(1,533	)		711
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)		(4	)		(6	)		(1	)		7			—			(21	)		6
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		(14	)		(17	)		(35	)		(35	)		(36	)		(57	)		(106	)
Equity method operating joint ventures		—			—			—			—			—			—			—
Real estate discontinued operations		—			—			—			—			—			—			—
Net investment income related to certain consolidated securitization entities		—			—			—			—			—			—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			(11	)		—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities		1			(4	)		(1	)		1			(5	)		5			(5	)
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		—			—			—			—			—			—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)		(47	)		(14	)		(10	)		(40	)		(28	)		(14	)		(78	)
Interest expense — related to certain consolidated securitization entities		—			—			—			—			—			—			—
Other expenses:
Noncontrolling interest		—			—			—			—			—			—			—
Business combination costs		—			—			—			—			—			—			—
Provision for income tax (expense) benefit		72			85			5			(188	)		(30	)		752			(213	)
Income (loss) from continuing operations, net of income tax		171			239			289			715			401			(657	)		1,405
Income (loss) from discontinued operations, net of income tax		—			3			—			—			—			19			—
Net income (loss)		171			242			289			715			401			(638	)		1,405
Less: Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—			—
Net income (loss) attributable to MetLife, Inc.		171			242			289			715			401			(638	)		1,405
Less: Preferred stock dividends		—			—			—			—			—			—			—
Net income (loss) available to MetLife, Inc.’s common shareholders	$	171		$	242		$	289		$	715		$	401		$	(638	)	$	1,405
Premiums, Fees and Other Revenues	$	4,976		$	5,332		$	5,061		$	5,051		$	4,958		$	14,896		$	15,070

12

U.S. BUSINESS
INSURANCE PRODUCTS — GROUP LIFE
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL

	For the Three Months Ended															For the Year-to-Date Period Ended
	September 30,			December 31,			March 31,			June 30,			September 30,			September 30,			September 30,
Unaudited (In millions, except ratios)	2009			2009			2010			2010			2010			2009			2010
OPERATING REVENUES
Premiums	$	1,739		$	1,829		$	1,871		$	1,841		$	1,775		$	5,238		$	5,487
Universal life and investment-type product policy fees		152			145			152			149			159			480			460
Net investment income		203			200			207			204			209			604			620
Other revenues		2			2			3			1			2			7			6
Total operating revenues		2,096			2,176			2,233			2,195			2,145			6,329			6,573
OPERATING EXPENSES
Policyholder benefits and dividends		1,732			1,821			1,865			1,793			1,781			5,296			5,439
Interest credited to policyholder account balances		46			47			44			43			44			139			131
Interest credited to bank deposits		—			—			—			—			—			—			—
Capitalization of DAC		(3	)		(4	)		(4	)		(4	)		(3	)		(12	)		(11	)
Amortization of DAC and VOBA		6			4			5			4			4			21			13
Interest expense		—			—			—			—			—			—			—
Other expenses		151			153			141			145			143			457			429
Total operating expenses		1,932			2,021			2,051			1,981			1,969			5,901			6,001
Operating earnings before provision for income tax		164			155			182			214			176			428			572
Provision for income tax expense (benefit)		56			52			64			75			61			146			200
Operating earnings		108			103			118			139			115			282			372
Preferred stock dividends		—			—			—			—			—			—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	108		$	103		$	118		$	139		$	115		$	282		$	372
Net Income Reconciliation
Operating earnings	$	108		$	103		$	118		$	139		$	115		$	282		$	372
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)		(39	)		(5	)		2			(6	)		15			(217	)		11
Net derivatives gains (losses)		6			1			23			58			(1	)		(37	)		80
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		(6	)		(6	)		(18	)		(18	)		(17	)		(32	)		(53	)
Equity method operating joint ventures		—			—			—			—			—			—			—
Real estate discontinued operations		—			—			—			—			—			—			—
Net investment income related to certain consolidated securitization entities		—			—			—			—			—			—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities		5			(4	)		—			—			—			8			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		—			—			—			—			—			—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Interest expense — related to certain consolidated securitization entities		—			—			—			—			—			—			—
Other expenses:
Noncontrolling interest		—			—			—			—			—			—			—
Business combination costs		—			—			—			—			—			—			—
Provision for income tax (expense) benefit		12			5			(2	)		(12	)		1			97			(13	)
Income (loss) from continuing operations, net of income tax		86			94			123			161			113			101			397
Income (loss) from discontinued operations, net of income tax		—			—			—			—			—			—			—
Net income (loss)		86			94			123			161			113			101			397
Less: Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—			—
Net income (loss) attributable to MetLife, Inc.		86			94			123			161			113			101			397
Less: Preferred stock dividends		—			—			—			—			—			—			—
Net income (loss) available to MetLife, Inc.’s common shareholders	$	86		$	94		$	123		$	161		$	113		$	101		$	397
Premiums, Fees and Other Revenues	$	1,893		$	1,976		$	2,026		$	1,991		$	1,936		$	5,725		$	5,953
Group Life Mortality Ratio		89.2	%		89.7	%		89.5	%		86.6	%		89.0	%

13

U.S. BUSINESS
INSURANCE PRODUCTS — INDIVIDUAL LIFE

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL

	For the Three Months Ended															For the Year-to-Date Period Ended
	September 30,			December 31,			March 31,			June 30,			September 30,			September 30,			September 30,
Unaudited (In millions, except ratios)	2009			2009			2010			2010			2010			2009			2010
OPERATING REVENUES
Premiums	$	1,035		$	1,154		$	967		$	1,004		$	988		$	3,046		$	2,959
Universal life and investment-type product policy fees		378			477			397			397			380			1,171			1,174
Net investment income		1,036			1,062			1,086			1,066			1,086			3,015			3,238
Other revenues		114			102			94			100			94			272			288
Total operating revenues		2,563			2,795			2,544			2,567			2,548			7,504			7,659
OPERATING EXPENSES
Policyholder benefits and dividends		1,700			1,720			1,627			1,636			1,608			5,012			4,871
Interest credited to policyholder account balances		188			195			185			188			195			547			568
Interest credited to bank deposits		—			—			—			—			—			—			—
Capitalization of DAC		(169	)		(188	)		(159	)		(171	)		(162	)		(482	)		(492	)
Amortization of DAC and VOBA		102			173			198			169			186			384			553
Interest expense		—			3			—			—			—			3			—
Other expenses		546			559			516			528			507			1,615			1,551
Total operating expenses		2,367			2,462			2,367			2,350			2,334			7,079			7,051
Operating earnings before provision for income tax		196			333			177			217			214			425			608
Provision for income tax expense (benefit)		63			110			62			76			75			139			213
Operating earnings		133			223			115			141			139			286			395
Preferred stock dividends		—			—			—			—			—			—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	133		$	223		$	115		$	141		$	139		$	286		$	395
Net Income Reconciliation
Operating earnings	$	133		$	223		$	115		$	141		$	139		$	286		$	395
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)		(78	)		56			17			—			21			(184	)		38
Net derivatives gains (losses)		(82	)		(72	)		(11	)		176			(28	)		(406	)		137
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)		(4	)		(6	)		(1	)		7			—			(21	)		6
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		—			(2	)		(10	)		(11	)		(10	)		(4	)		(31	)
Equity method operating joint ventures		—			—			—			—			—			—			—
Real estate discontinued operations		—			—			—			—			—			—			—
Net investment income related to certain consolidated securitization entities		—			—			—			—			—			—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			(11	)		—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities		—			—			—			—			—			—			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		—			—			—			—			—			—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)		(47	)		(14	)		(10	)		(40	)		(28	)		(14	)		(78	)
Interest expense — related to certain consolidated securitization entities		—			—			—			—			—			—			—
Other expenses:
Noncontrolling interest		—			—			—			—			—			—			—
Business combination costs		—			—			—			—			—			—			—
Provision for income tax (expense) benefit		75			13			5			(47	)		16			224			(26	)
Income (loss) from continuing operations, net of income tax		(3	)		198			105			226			110			(130	)		441
Income (loss) from discontinued operations, net of income tax		—			3			—			—			—			19			—
Net income (loss)		(3	)		201			105			226			110			(111	)		441
Less: Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—			—
Net income (loss) attributable to MetLife, Inc.		(3	)		201			105			226			110			(111	)		441
Less: Preferred stock dividends		—			—			—			—			—			—			—
Net income (loss) available to MetLife, Inc.’s common shareholders	$	(3	)	$	201		$	105		$	226		$	110		$	(111	)	$	441
Premiums, Fees and Other Revenues	$	1,527		$	1,733		$	1,458		$	1,501		$	1,462		$	4,489		$	4,421
Mortality as a Percentage of Expected		91.2	%		81.1	%		87.6	%		80.4	%		86.7	%
Lapse Ratio
Traditional Life		6.9	%		6.8	%		6.7	%		6.4	%		6.2	%
Variable & Universal Life		6.8	%		6.5	%		6.1	%		5.9	%		5.9	%

14

U.S. BUSINESS
INSURANCE PRODUCTS — NON-MEDICAL HEALTH
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL

	For the Three Months Ended															For the Year-to-Date Period Ended
	September 30,			December 31,			March 31,			June 30,			September 30,			September 30,			September 30,
Unaudited (In millions, except ratios)	2009			2009			2010			2010			2010			2009			2010
OPERATING REVENUES
Premiums	$	1,448		$	1,527		$	1,485		$	1,472		$	1,471		$	4,374		$	4,428
Universal life and investment-type product policy fees		3			—			—			—			—			8			—
Net investment income		198			221			211			225			220			512			656
Other revenues		105			96			92			87			89			300			268
Total operating revenues		1,754			1,844			1,788			1,784			1,780			5,194			5,352
OPERATING EXPENSES
Policyholder benefits and dividends		1,313			1,377			1,355			1,292			1,296			3,885			3,943
Interest credited to policyholder account balances		6			6			5			6			4			18			15
Interest credited to bank deposits		—			—			—			—			—			—			—
Capitalization of DAC		(46	)		(44	)		(43	)		(42	)		(39	)		(143	)		(124	)
Amortization of DAC and VOBA		37			32			36			33			31			111			100
Interest expense		—			—			—			—			—			—			—
Other expenses		351			362			335			358			348			1,060			1,041
Total operating expenses		1,661			1,733			1,688			1,647			1,640			4,931			4,975
Operating earnings before provision for income tax		93			111			100			137			140			263			377
Provision for income tax expense (benefit)		32			37			35			48			49			89			132
Operating earnings		61			74			65			89			91			174			245
Preferred stock dividends		—			—			—			—			—			—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	61		$	74		$	65		$	89		$	91		$	174		$	245
Net Income Reconciliation
Operating earnings	$	61		$	74		$	65		$	89		$	91		$	174		$	245
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)		(20	)		(3	)		(6	)		2			33			(119	)		29
Net derivatives gains (losses)		74			(182	)		8			371			115			(1,090	)		494
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		(8	)		(9	)		(7	)		(6	)		(9	)		(21	)		(22	)
Equity method operating joint ventures		—			—			—			—			—			—			—
Real estate discontinued operations		—			—			—			—			—			—			—
Net investment income related to certain consolidated securitization entities		—			—			—			—			—			—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities		(4	)		—			(1	)		1			(5	)		(3	)		(5	)
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		—			—			—			—			—			—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Interest expense — related to certain consolidated securitization entities		—			—			—			—			—			—			—
Other expenses:
Noncontrolling interest		—			—			—			—			—			—			—
Business combination costs		—			—			—			—			—			—			—
Provision for income tax (expense) benefit		(15	)		67			2			(129	)		(47	)		431			(174	)
Income (loss) from continuing operations, net of income tax		88			(53	)		61			328			178			(628	)		567
Income (loss) from discontinued operations, net of income tax		—			—			—			—			—			—			—
Net income (loss)		88			(53	)		61			328			178			(628	)		567
Less: Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—			—
Net income (loss) attributable to MetLife, Inc.		88			(53	)		61			328			178			(628	)		567
Less: Preferred stock dividends		—			—			—			—			—			—			—
Net income (loss) available to MetLife, Inc.’s common shareholders	$	88		$	(53	)	$	61		$	328		$	178		$	(628	)	$	567
Premiums, Fees and Other Revenues	$	1,556		$	1,623		$	1,577		$	1,559		$	1,560		$	4,682		$	4,696
Non-Medical Health Benefit Ratio		90.7	%		90.2	%		91.2	%		87.8	%		88.0	%

15

U.S. BUSINESS
INSURANCE PRODUCTS
FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES; AND SEPARATE ACCOUNT LIABILITIES

FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES

GROUP LIFE
	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Balance, beginning of period		$	11,842		$	11,911		$	11,966		$	12,060		$	12,017
Premiums and deposits			3,600			3,486			3,598			3,515			3,509
Surrenders and withdrawals			(1,467	)		(1,363	)		(1,361	)		(1,442	)		(1,495	)
Benefit payments			(1,969	)		(1,914	)		(1,970	)		(1,923	)		(1,921	)
Net Flows			164			209			267			150			93
Net transfers from (to) separate account			2			1			1			1			1
Interest			76			76			72			75			72
Policy charges			(132	)		(135	)		(128	)		(126	)		(125	)
Other			(41	)		(96	)		(118	)		(143	)		(53	)
Balance, end of period		$	11,911		$	11,966		$	12,060		$	12,017		$	12,005
INDIVIDUAL LIFE
	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Balance, beginning of period		$	72,920		$	73,307		$	73,934		$	74,398		$	74,855
Premiums and deposits			2,049			2,167			2,070			2,002			2,059
Surrenders and withdrawals			(978	)		(936	)		(908	)		(919	)		(937	)
Benefit payments			(576	)		(577	)		(670	)		(589	)		(616	)
Net Flows			495			654			492			494			506
Net transfers from (to) separate account			(14	)		39			29			29			37
Interest			755			763			749			748			756
Policy charges			(389	)		(397	)		(401	)		(401	)		(408	)
Other			(460	)		(432	)		(405	)		(413	)		(435	)
Balance, end of period		$	73,307		$	73,934		$	74,398		$	74,855		$	75,311
NON-MEDICAL HEALTH
	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Balance, beginning of period		$	12,579		$	12,868		$	13,239		$	13,484		$	13,689
Premiums and deposits			1,585			1,567			1,518			1,502			1,747
Surrenders and withdrawals			(106	)		(5	)		(5	)		(5	)		(255	)
Benefit payments			(1,074	)		(1,084	)		(1,137	)		(1,119	)		(1,083	)
Net Flows			405			478			376			378			409
Net transfers from (to) separate account			—			—			—			—			—
Interest			140			147			148			152			150
Policy charges			—			—			—			—			—
Other			(256	)		(254	)		(279	)		(325	)		(347	)
Balance, end of period		$	12,868		$	13,239		$	13,484		$	13,689		$	13,901
SEPARATE ACCOUNT LIABILITIES
GROUP LIFE
	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Balance, beginning of period		$	366		$	416		$	433		$	450		$	411
Premiums and deposits			38			39			40			44			47
Surrenders and withdrawals			(10	)		(9	)		(9	)		(8	)		(8	)
Benefit payments			—			—			(1	)		—			—
Net Flows			28			30			30			36			39
Investment Performance			53			18			19			(40	)		42
Net transfers from (to) general account			(2	)		(1	)		(1	)		(2	)		(1	)
Policy charges			(29	)		(30	)		(31	)		(33	)		(35	)
Other			—			—			—			—			—
Balance, end of period		$	416		$	433		$	450		$	411		$	456
INDIVIDUAL LIFE
	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Balance, beginning of period		$	7,313		$	8,232		$	8,405		$	8,682		$	7,915
Premiums and deposits			210			215			208			197			193
Surrenders and withdrawals			(103	)		(140	)		(124	)		(141	)		(116	)
Benefit payments			(10	)		(7	)		(8	)		(9	)		(10	)
Net Flows			97			68			76			47			67
Investment Performance			953			297			374			(643	)		764
Net transfers from (to) general account			14			(39	)		(29	)		(29	)		(37	)
Policy charges			(147	)		(147	)		(143	)		(141	)		(140	)
Other			2			(6	)		(1	)		(1	)		7
Balance, end of period		$	8,232		$	8,405		$	8,682		$	7,915		$	8,576
NON-MEDICAL HEALTH
	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Balance, beginning of period		$	832		$	911		$	—		$	—		$	—
Premiums and deposits			38			—			—			—			—
Surrenders and withdrawals			(4	)		(910	)		—			—			—
Benefit payments			—			—			—			—			—
Net Flows			34			(910	)		—			—			—
Investment Performance			30			(1	)		—			—			—
Net transfers from (to) general account			—			—			—			—			—
Policy charges			(8	)		—			—			—			—
Other			23			—			—			—			—
Balance, end of period		$	911		$	—		$	—		$	—		$	—

16

U.S. BUSINESS
INSURANCE PRODUCTS

OTHER EXPENSES BY MAJOR CATEGORY AND INDIVIDUAL LIFE SALES BY PRODUCT

OTHER EXPENSES
	For the Three Months Ended
	September 30,		December 31,		March 31,		June 30,		September 30,
Unaudited (In millions)	2009		2009		2010		2010		2010
Direct and allocated expenses	$	568	$	579	$	554	$	570	$	555
Pension and post-retirement benefit costs		70		69		51		52		52
Premium taxes, other taxes, and licenses & fees		82		75		69		78		76
Total fixed operating expenses	$	720	$	723	$	674	$	700	$	683
Commissions and other variable expenses		328		351		318		331		315
Total other expenses	$	1,048	$	1,074	$	992	$	1,031	$	998
INDIVIDUAL LIFE SALES BY PRODUCT (1)
	For the Three Months Ended
	September 30,		December 31,		March 31,		June 30,		September 30,
Unaudited (In millions)	2009		2009		2010		2010		2010
Individual Life Sales
Term Life	$	37	$	37	$	33	$	35	$	32
Whole Life		30		34		29		29		28
Variable Life		10		10		9		10		9
Universal Life		50		63		41		44		48
Total Individual Life sales (2)	$	127	$	144	$	112	$	118	$	117

(1)	Statistical sales information is calculated by MetLife using the LIMRA International, Inc. definition of sales for core direct sales, excluding company sponsored internal exchanges, corporate-owned life insurance, bank-owned life insurance, and private placement variable universal life insurance.
(2)	Of the $117 million of Individual Life sales during the three months ended September 30, 2010, approximately 43% were distributed through MetLife agents, 14% through New England Financial agents, 41% through MetLife’s third party channels and 2% through other channels.

17

U.S. BUSINESS
INSURANCE PRODUCTS

SPREAD BY PRODUCT

GROUP LIFE

	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited		2009			2009			2010			2010			2010
Investment income yield			5.20	%		5.02	%		5.42	%		5.32	%		5.54	%
Average crediting rate			2.20	%		2.18	%		2.15	%		2.13	%		2.08	%
Annualized general account spread			3.00	%		2.84	%		3.27	%		3.19	%		3.46	%

VARIABLE & UNIVERSAL LIFE

	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited		2009			2009			2010			2010			2010
Investment income yield			6.07	%		6.27	%		6.28	%		6.24	%		6.30	%
Average crediting rate			4.58	%		4.69	%		4.47	%		4.43	%		4.48	%
Annualized general account spread (1)			1.49	%		1.58	%		1.81	%		1.81	%		1.82	%

NON-MEDICAL HEALTH

	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited		2009			2009			2010			2010			2010
Investment income yield			5.57	%		6.14	%		5.95	%		6.23	%		5.96	%
Average crediting rate			4.69	%		4.81	%		4.80	%		4.80	%		4.78	%
Annualized general account spread			0.88	%		1.33	%		1.15	%		1.43	%		1.18	%

(1)  This represents the general account spread for Variable and Universal Life, a component of Individual Life. 

18

U.S. BUSINESS

RETIREMENT PRODUCTS

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended															For the Year-to-Date Period Ended
	September 30,			December 31,			March 31,2010			June 30,			September 30,			September 30,			September 30,
Unaudited (In millions, except ratios)	2009			2009			2010			2010			2010			2009			2010
OPERATING REVENUES
Premiums	$	140		$	192		$	123		$	151		$	128		$	431		$	402
Universal life and investment-type product policy fees		466			493			513			561			554			1,219			1,628
Net investment income		749			763			773			763			777			2,096			2,313
Other revenues		61			47			48			54			56			125			158
Total operating revenues		1,416			1,495			1,457			1,529			1,515			3,871			4,501
OPERATING EXPENSES
Policyholder benefits and dividends		424			296			354			49			456			1,102			859
Interest credited to policyholder account balances		431			426			406			405			393			1,261			1,204
Interest credited to bank deposits		—			—			—			—			—			—			—
Capitalization of DAC		(223	)		(230	)		(234	)		(262	)		(270	)		(837	)		(766	)
Amortization of DAC and VOBA		42			100			133			372			98			324			603
Interest expense		—			(1	)		—			—			1			1			1
Other expenses		580			585			554			599			607			1,820			1,760
Total operating expenses		1,254			1,176			1,213			1,163			1,285			3,671			3,661
Operating earnings before provision for income tax		162			319			244			366			230			200			840
Provision for income tax expense (benefit)		57			112			85			128			81			70			294
Operating earnings		105			207			159			238			149			130			546
Preferred stock dividends		—			—			—			—			—			—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	105		$	207		$	159		$	238		$	149		$	130		$	546
Net Income Reconciliation
Operating earnings	$	105		$	207		$	159		$	238		$	149		$	130		$	546
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)		(71	)		(82	)		24			13			9			(403	)		46
Net derivatives gains (losses)		(391	)		(92	)		77			374			109			(1,029	)		560
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		(49	)		(63	)		(65	)		(66	)		(66	)		(154	)		(197	)
Equity method operating joint ventures		—			—			—			—			—			—			—
Real estate discontinued operations		—			—			—			—			—			—			—
Net investment income related to certain consolidated securitization entities		—			—			—			—			—			—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities		—			—			—			—			—			—			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		—			—			—			—			—			—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)		221			109			(4	)		(172	)		(9	)		630			(185	)
Interest expense — related to certain consolidated securitization entities		—			—			—			—			—			—			—
Other expenses:
Noncontrolling interest		—			—			—			—			—			—			—
Business combination costs		—			—			—			—			—			—			—
Provision for income tax (expense) benefit		103			45			(11	)		(54	)		(15	)		335			(80	)
Income (loss) from continuing operations, net of income tax		(82	)		124			180			333			177			(491	)		690
Income (loss) from discontinued operations, net of income tax		—			—			—			—			—			5			—
Net income (loss)		(82	)		124			180			333			177			(486	)		690
Less: Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—			—
Net income (loss) attributable to MetLife, Inc.		(82	)		124			180			333			177			(486	)		690
Less: Preferred stock dividends		—			—			—			—			—			—			—
Net income (loss) available to MetLife, Inc.’s common shareholders	$	(82	)	$	124		$	180		$	333		$	177		$	(486	)	$	690
Premiums, Fees and Other Revenues	$	667		$	732		$	684		$	766		$	738		$	1,775		$	2,188
Lapse Ratio
Fixed Annuities		8.6	%		7.5	%		6.8	%		6.7	%		6.3	%
Variable Annuities		7.9	%		7.1	%		6.8	%		6.8	%		7.3	%

19

U.S. BUSINESS
RETIREMENT PRODUCTS

FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES; AND SEPARATE ACCOUNT LIABILITIES

FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES

	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Balance, beginning of period		$	51,228		$	51,388		$	50,799		$	50,563		$	52,600
Premiums and deposits (1), (2)			1,944			1,766			1,606			1,705			1,939
Surrenders and withdrawals			(890	)		(1,044	)		(847	)		(834	)		(1,159	)
Benefit payments			(363	)		(336	)		(374	)		(368	)		(364	)
Net Flows			691			386			385			503			416
Net transfers from (to) separate account			(1,107	)		(946	)		(892	)		(689	)		(808	)
Interest			522			518			494			496			481
Policy charges			(10	)		(10	)		(12	)		(14	)		(13	)
Other			64			(537	)		(211	)		1,741			(132	)
Balance, end of period		$	51,388		$	50,799		$	50,563		$	52,600		$	52,544

SEPARATE ACCOUNT LIABILITIES

	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Balance, beginning of period		$	70,538		$	82,100		$	87,113		$	92,554		$	87,323
Premiums and deposits (1)			2,279			2,633			3,004			3,348			3,312
Surrenders and withdrawals			(1,283	)		(1,456	)		(1,625	)		(1,622	)		(1,813	)
Benefit payments			(140	)		(150	)		(178	)		(193	)		(183	)
Net Flows			856			1,027			1,201			1,533			1,316
Investment Performance			9,964			3,430			3,755			(7,000	)		8,544
Net transfers from (to) general account			1,107			946			892			689			808
Policy charges			(366	)		(392	)		(406	)		(454	)		(453	)
Other			1			2			(1	)		1			—
Balance, end of period		$	82,100		$	87,113		$	92,554		$	87,323		$	97,538

(1)	Includes company sponsored internal exchanges.
(2)	Includes premiums and deposits directed to the General Account investment option of a variable annuity product.

20

U.S. BUSINESS
RETIREMENT PRODUCTS

OTHER EXPENSES BY MAJOR CATEGORY AND INDIVIDUAL ANNUITY SALES BY PRODUCT

OTHER EXPENSES

	For the Three Months Ended
		September 30,		December 31,		March 31,		June 30,		September 30,
Unaudited (In millions)		2009		2009		2010		2010		2010
Direct and allocated expenses		$	183	$	178	$	173	$	182	$	179
Pension and post-retirement benefit costs			22		22		20		21		21
Premium taxes, other taxes, and licenses & fees			7		10		7		8		8
Total fixed operating expenses		$	212	$	210	$	200	$	211	$	208
Commissions and other variable expenses			368		375		354		388		399
Total other expenses		$	580	$	585	$	554	$	599	$	607

INDIVIDUAL ANNUITY SALES BY PRODUCT (1)

	For the Three Months Ended
		September 30,		December 31,		March 31,		June 30,		September 30,
Unaudited (in millions)		2009		2009		2010		2010		2010
Individual Annuity Sales
Annuities Sales (1)
Fixed annuity sales		$	596	$	499	$	359	$	373	$	373
Variable annuity sales			3,441		3,711		4,034		4,474		4,662
Total annuity sales (2)		$	4,037	$	4,210	$	4,393	$	4,847	$	5,035
Separate Account and General Account
Separate Accounts
Total variable annuities separate accounts		$	2,171	$	2,518	$	2,875	$	3,218	$	3,178
General Accounts
Fixed annuity			596		499		359		373		373
Variable annuity			1,270		1,193		1,159		1,256		1,484
Total general accounts			1,866		1,692		1,518		1,629		1,857
Total premiums and deposits		$	4,037	$	4,210	$	4,393	$	4,847	$	5,035

(1)	Statutory premiums direct and assumed, excluding company sponsored internal exchanges.
(2)	Of the $5,035 million of Annuity Sales during the three months ended September 30, 2010, approximately 19% were distributed through MetLife agents, 6% through New England Financial agents, 67% through MetLife’s third party channels, 7% through MetLife Resources representatives and 1% through other distribution channels.

21

U.S. BUSINESS
RETIREMENT PRODUCTS

SPREAD

DEFERRED ANNUITIES

	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited		2009			2009			2010			2010			2010
Investment income yield			5.86	%		5.92	%		6.19	%		6.07	%		6.36	%
Average crediting rate			3.88	%		3.85	%		3.75	%		3.69	%		3.68	%
Annualized general account spread			1.98	%		2.07	%		2.44	%		2.38	%		2.68	%

22

U.S. BUSINESS
CORPORATE BENEFIT FUNDING

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended																For the Year-to-Date Period Ended
		September 30,			December 31,			March 31,			June 30,			September 30,				September 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010				2009			2010
OPERATING REVENUES
Premiums		$	639		$	903		$	801		$	573		$	501			$	1,658		$	1,875
Universal life and investment-type product policy fees			34			41			55			56			58				135			169
Net investment income			1,210			1,266			1,270			1,313			1,295				3,500			3,878
Other revenues			34			67			64			59			59				172			182
Total operating revenues			1,917			2,277			2,190			2,001			1,913				5,465			6,104
OPERATING EXPENSES
Policyholder benefits and dividends			1,192			1,486			1,362			1,143			1,120				3,311			3,625
Interest credited to policyholder account balances			390			375			355			364			381				1,258			1,100
Interest credited to bank deposits			—			—			—			—			—				—			—
Capitalization of DAC			(5	)		(1	)		(8	)		(3	)		(6	)			(13	)		(17	)
Amortization of DAC and VOBA			3			3			4			4			4				12			12
Interest expense			1			—			2			2			2				3			6
Other expenses			128			129			124			125			121				355			370
Total operating expenses			1,709			1,992			1,839			1,635			1,622				4,926			5,096
Operating earnings before provision for income tax			208			285			351			366			291				539			1,008
Provision for income tax expense (benefit)			68			94			123			128			102				179			353
Operating earnings			140			191			228			238			189				360			655
Preferred stock dividends			—			—			—			—			—				—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	140		$	191		$	228		$	238		$	189			$	360		$	655
Net Income Reconciliation
Operating earnings		$	140		$	191		$	228		$	238		$	189			$	360		$	655
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(305	)		(61	)		38			73			50				(1,473	)		161
Net derivatives gains (losses)			(112	)		(152	)		(43	)		173			(186	)			(574	)		(56	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			58			52			51			46			47				142			144
Equity method operating joint ventures			—			—			—			—			—				—			—
Real estate discontinued operations			(2	)		(2	)		(1	)		(1	)		—				(5	)		(2	)
Net investment income related to certain consolidated securitization entities			—			—			—			—			—				—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			(40	)		—			(4	)		(37	)		(31	)			(69	)		(72	)
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			1			1			3			(1	)		(5	)			3			(3	)
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Interest expense — related to certain consolidated securitization entities			—			—			—			—			—				—			—
Other expenses:
Noncontrolling interest			—			1			1			1			—				—			2
Business combination costs			—			—			—			—			—				—			—
Provision for income tax (expense) benefit			141			54			(17	)		(94	)		45				691			(66	)
Income (loss) from continuing operations, net of income tax			(119	)		84			256			398			109				(925	)		763
Income (loss) from discontinued operations, net of income tax			1			4			1			6			1				3			8
Net income (loss)			(118	)		88			257			404			110				(922	)		771
Less: Net income (loss) attributable to noncontrolling interest			—			1			—			1			—				—			1
Net income (loss) attributable to MetLife, Inc.			(118	)		87			257			403			110				(922	)		770
Less: Preferred stock dividends			—			—			—			—			—				—			—
Net income (loss) available to MetLife, Inc.’s common shareholders		$	(118	)	$	87		$	257		$	403		$	110			$	(922	)	$	770
Premiums, Fees and Other Revenues		$	707		$	1,011		$	920		$	688		$	618			$	1,965		$	2,226

23

U.S. BUSINESS
CORPORATE BENEFIT FUNDING

FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES; AND SEPARATE ACCOUNT LIABILITIES

FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES

	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Balance, beginning of period		$	99,652		$	97,897		$	97,170		$	100,187		$	100,220
Premiums and deposits			10,427			9,836			11,720			12,136			12,450
Surrenders and withdrawals			(12,532	)		(10,466	)		(8,856	)		(13,432	)		(11,707	)
Benefit payments			(820	)		(800	)		(806	)		(821	)		(890	)
Net Flows			(2,925	)		(1,430	)		2,058			(2,117	)		(147	)
Net transfers from (to) separate account			(16	)		58			16			(59	)		(98	)
Interest			1,044			1,049			1,036			1,048			1,068
Policy charges			(30	)		(20	)		(31	)		(34	)		(30	)
Other			172			(384	)		(62	)		1,195			1,846
Balance, end of period		$	97,897		$	97,170		$	100,187		$	100,220		$	102,859

SEPARATE ACCOUNT LIABILITIES

	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Balance, beginning of period		$	42,293		$	46,015		$	45,732		$	48,830		$	49,929
Premiums and deposits			1,931			1,748			2,061			1,240			4,835
Surrenders and withdrawals			(1,177	)		(1,360	)		(1,501	)		(1,250	)		(1,637	)
Benefit payments			(10	)		(11	)		(11	)		(17	)		(9	)
Net Flows			744			377			549			(27	)		3,189
Investment Performance			2,703			384			1,049			501			2,067
Net transfers from (to) general account			16			(58	)		(16	)		59			98
Policy charges			(55	)		(57	)		(61	)		(50	)		(57	)
Other			314			(929	)		1,577			616			1,493
Balance, end of period		$	46,015		$	45,732		$	48,830		$	49,929		$	56,719

24

U.S. BUSINESS
CORPORATE BENEFIT FUNDING

OTHER EXPENSES BY MAJOR CATEGORY

	For the Three Months Ended
		September 30,		December 31,		March 31,		June 30,		September 30,
Unaudited (In millions)		2009		2009		2010		2010		2010
Direct and allocated expenses		$	63	$	65	$	55	$	71	$	60
Pension and other post-retirement benefit costs			15		15		11		12		12
Premium taxes, other taxes, and licenses and fees			12		5		3		5		5
Total fixed operating expenses		$	90	$	85	$	69	$	88	$	77
Commissions and other variable expenses			38		44		55		37		44
Total other expenses		$	128	$	129	$	124	$	125	$	121

25

U.S. BUSINESS
CORPORATE BENEFIT FUNDING

SPREAD

CORPORATE BENEFIT FUNDING	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited		2009			2009			2010			2010			2010
Investment income yield			4.71	%		4.96	%		5.04	%		5.16	%		5.19	%
Average crediting rate			4.14	%		4.13	%		4.00	%		4.04	%		4.16	%
Annualized general account spread			0.57	%		0.83	%		1.04	%		1.12	%		1.03	%

26

U.S. BUSINESS

AUTO & HOME

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended																For the Year-to-Date Period Ended
		September 30,			December 31,			March 31,			June 30,			September 30,				September 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010				2009			2010
OPERATING REVENUES
Premiums (1)		$	727		$	727		$	714		$	723		$	740			$	2,175		$	2,177
Universal life and investment-type product policy fees			—			—			—			—			—				—			—
Net investment income			45			46			53			52			51				134			156
Other revenues			8			11			(2	)		8			8				22			14
Total operating revenues			780			784			765			783			799				2,331			2,347
OPERATING EXPENSES
Policyholder benefits and dividends (1)			483			478			494			506			506				1,454			1,506
Interest credited to policyholder account balances			—			—			—			—			—				—			—
Interest credited to bank deposits			—			—			—			—			—				—			—
Capitalization of DAC			(112	)		(106	)		(104	)		(117	)		(118	)			(329	)		(339	)
Amortization of DAC and VOBA			107			108			107			111			110				328			328
Interest expense			—			—			—			—			—				—			—
Other expenses			189			194			179			193			200				570			572
Total operating expenses			667			674			676			693			698				2,023			2,067
Operating earnings before provision for income tax			113			110			89			90			101				308			280
Provision for income tax expense (benefit)			27			26			17			17			20				70			54
Operating earnings			86			84			72			73			81				238			226
Preferred stock dividends			—			—			—			—			—				—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	86		$	84		$	72		$	73		$	81			$	238		$	226
Net Income Reconciliation
Operating earnings		$	86		$	84		$	72		$	73		$	81			$	238		$	226
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(29	)		5			(1	)		1			(3	)			(46	)		(3	)
Net derivatives gains (losses)			(1	)		—			—			(3	)		(4	)			39			(7	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Equity method operating joint ventures			—			—			—			—			—				—			—
Real estate discontinued operations			—			—			—			—			—				—			—
Net investment income related to certain consolidated securitization entities			—			—			—			—			—				—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			—			—			—			—			—				—			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Interest expense — related to certain consolidated securitization entities			—			—			—			—			—				—			—
Other expenses:
Noncontrolling interest			—			—			—			—			—				—			—
Business combination costs			—			—			—			—			—				—			—
Provision for income tax (expense) benefit			11			(2	)		—			1			2				3			3
Income (loss) from continuing operations, net of income tax			67			87			71			72			76				234			219
Income (loss) from discontinued operations, net of income tax			—			—			—			—			—				—			—
Net income (loss)			67			87			71			72			76				234			219
Less: Net income (loss) attributable to noncontrolling interest			—			—			—			—			—				—			—
Net income (loss) attributable to MetLife, Inc.			67			87			71			72			76				234			219
Less: Preferred stock dividends			—			—			—			—			—				—			—
Net income (loss) available to MetLife, Inc.’s common shareholders		$	67		$	87		$	71		$	72		$	76			$	234		$	219
Premiums, Fees and Other Revenues		$	735		$	738		$	712		$	731		$	748			$	2,197		$	2,191

(1) Premiums reflect earned premiums and policyholder benefits and dividends includes losses and loss adjustment expense.

27

U.S. BUSINESS
AUTO & HOME — AUTO
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL

	For the Three Months Ended																For the Year-to-Date Period Ended
		September 30,			December 31,			March 31,			June 30,			September 30,				September 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010				2009			2010
OPERATING REVENUES
Premiums (1)		$	500		$	495		$	484		$	489		$	500			$	1,496		$	1,473
Universal life and investment-type product policy fees			—			—			—			—			—				—			—
Net investment income			28			29			34			34			32				83			100
Other revenues			5			4			4			5			5				13			14
Total operating revenues			533			528			522			528			537				1,592			1,587
OPERATING EXPENSES
Policyholder benefits and dividends (1)			353			373			336			320			355				1,019			1,011
Interest credited to policyholder account balances			—			—			—			—			—				—			—
Interest credited to bank deposits			—			—			—			—			—				—			—
Capitalization of DAC			(77	)		(65	)		(68	)		(76	)		(78	)			(222	)		(222	)
Amortization of DAC and VOBA			74			68			69			74			74				219			217
Interest expense			—			—			—			—			—				—			—
Other expenses			124			128			120			127			130				377			377
Total operating expenses			474			504			457			445			481				1,393			1,383
Operating earnings before provision for income tax			59			24			65			83			56				199			204
Provision for income tax expense (benefit)			13			—			13			21			10				46			44
Operating earnings			46			24			52			62			46				153			160
Preferred stock dividends			—			—			—			—			—				—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	46		$	24		$	52		$	62		$	46			$	153		$	160
Net Income Reconciliation
Operating earnings		$	46		$	24		$	52		$	62		$	46			$	153		$	160
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(18	)		1			(1	)		1			(2	)			(28	)		(2	)
Net derivatives gains (losses)			—			1			—			(2	)		(2	)			24			(4	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Equity method operating joint ventures			—			—			—			—			—				—			—
Real estate discontinued operations			—			—			—			—			—				—			—
Net investment income related to certain consolidated securitization entities			—			—			—			—			—				—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			—			—			—			—			—				—			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Interest expense — related to certain consolidated securitization entities			—			—			—			—			—				—			—
Other expenses:
Noncontrolling interest			—			—			—			—			—				—			—
Business combination costs			—			—			—			—			—				—			—
Provision for income tax (expense) benefit			7			(1	)		—			1			1				2			2
Income (loss) from continuing operations, net of income tax			35			25			51			62			43				151			156
Income (loss) from discontinued operations, net of income tax			—			—			—			—			—				—			—
Net income (loss)			35			25			51			62			43				151			156
Less: Net income (loss) attributable to noncontrolling interest			—			—			—			—			—				—			—
Net income (loss) attributable to MetLife, Inc.			35			25			51			62			43				151			156
Less: Preferred stock dividends			—			—			—			—			—				—			—
Net income (loss) available to MetLife, Inc.’s common shareholders		$	35		$	25		$	51		$	62		$	43			$	151		$	156
Premiums, Fees and Other Revenues		$	505		$	499		$	488		$	494		$	505			$	1,509		$	1,487

(1) Premiums reflect earned premiums and policyholder benefits and dividends includes losses and loss adjustment expense.

28

U.S. BUSINESS
AUTO & HOME — HOMEOWNERS & OTHER
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL

	For the Three Months Ended																For the Year-to-Date Period Ended
		September 30,			December 31,			March 31,			June 30,			September 30,				September 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010				2009			2010
OPERATING REVENUES
Premiums (1)		$	227		$	232		$	230		$	234		$	240			$	679		$	704
Universal life and investment-type product policy fees			—			—			—			—			—				—			—
Net investment income			17			17			19			18			19				51			56
Other revenues			3			7			(6	)		3			3				9			—
Total operating revenues			247			256			243			255			262				739			760
OPERATING EXPENSES
Policyholder benefits and dividends (1)			130			105			158			186			151				435			495
Interest credited to policyholder account balances			—			—			—			—			—				—			—
Interest credited to bank deposits			—			—			—			—			—				—			—
Capitalization of DAC			(35	)		(41	)		(36	)		(41	)		(40	)			(107	)		(117	)
Amortization of DAC and VOBA			33			40			38			37			36				109			111
Interest expense			—			—			—			—			—				—			—
Other expenses			65			66			59			66			70				193			195
Total operating expenses			193			170			219			248			217				630			684
Operating earnings before provision for income tax			54			86			24			7			45				109			76
Provision for income tax expense (benefit)			14			26			4			(4	)		10				24			10
Operating earnings			40			60			20			11			35				85			66
Preferred stock dividends			—			—			—			—			—				—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	40		$	60		$	20		$	11		$	35			$	85		$	66
Net Income Reconciliation
Operating earnings		$	40		$	60		$	20		$	11		$	35			$	85		$	66
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(11	)		4			—			—			(1	)			(18	)		(1	)
Net derivatives gains (losses)			(1	)		(1	)		—			(1	)		(2	)			15			(3	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Equity method operating joint ventures			—			—			—			—			—				—			—
Real estate discontinued operations			—			—			—			—			—				—			—
Net investment income related to certain consolidated securitization entities			—			—			—			—			—				—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			—			—			—			—			—				—			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Interest expense — related to certain consolidated securitization entities			—			—			—			—			—				—			—
Other expenses:
Noncontrolling interest			—			—			—			—			—				—			—
Business combination costs			—			—			—			—			—				—			—
Provision for income tax (expense) benefit			4			(1	)		—			—			1				1			1
Income (loss) from continuing operations, net of income tax			32			62			20			10			33				83			63
Income (loss) from discontinued operations, net of income tax			—			—			—			—			—				—			—
Net income (loss)			32			62			20			10			33				83			63
Less: Net income (loss) attributable to noncontrolling interest			—			—			—			—			—				—			—
Net income (loss) attributable to MetLife, Inc.			32			62			20			10			33				83			63
Less: Preferred stock dividends			—			—			—			—			—				—			—
Net income (loss) available to MetLife, Inc.’s common shareholders		$	32		$	62		$	20		$	10		$	33			$	83		$	63
Premiums, Fees and Other Revenues		$	230		$	239		$	224		$	237		$	243			$	688		$	704

(1) Premiums reflect earned premiums and policyholder benefits and dividends includes losses and loss adjustment expense.

29

U.S. BUSINESS
AUTO & HOME

WRITTEN PREMIUMS BY PRODUCT AND SELECTED FINANCIAL INFORMATION AND SUPPLEMENTAL DATA

	For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions, except ratios)		2009			2009			2010			2010			2010
Written Premiums by Product
Automobile		$	503		$	475		$	486		$	509		$	513
Homeowners			240			212			190			242			254
Other			11			11			21			13			13
Total		$	754		$	698		$	697		$	764		$	780
Selected Financial Information and Supplemental Data
Total Auto & Home
Loss and loss adjustment expense ratio			66.1	%		65.6	%		69.5	%		69.8	%		68.3	%
Policyholder benefits and dividends			0.1	%		0.1	%		(0.3	%)		0.1	%		0.0	%
Other expense ratio			25.5	%		27.2	%		25.5	%		26.0	%		25.9	%
Payment fees credit			(0.6	%)		(0.6	%)		(0.6	%)		(0.6	%)		(0.6	%)
Total combined ratio			91.1	%		92.3	%		94.1	%		95.3	%		93.6	%
Effect of catastrophe losses			3.4	%		0.5	%		5.3	%		9.8	%		5.4	%
Combined ratio excluding catastrophes			87.7	%		91.8	%		88.8	%		85.5	%		88.2	%
Auto
Loss and loss adjustment expense ratio			70.2	%		75.5	%		69.8	%		65.3	%		71.0	%
Policyholder benefits and dividends			0.1	%		0.1	%		(0.3	%)		0.1	%		0.0	%
Other expense ratio			24.4	%		26.7	%		25.0	%		25.6	%		25.1	%
Payment fees credit			(0.7	%)		(0.7	%)		(0.7	%)		(0.7	%)		(0.6	%)
Total combined ratio			94.0	%		101.6	%		93.8	%		90.3	%		95.5	%
Effect of catastrophe losses			0.4	%		(0.2	%)		0.5	%		1.8	%		0.7	%
Combined ratio excluding catastrophes			93.6	%		101.8	%		93.3	%		88.5	%		94.8	%
Homeowners & Other
Loss and loss adjustment expense ratio			56.9	%		44.7	%		68.7	%		79.3	%		62.6	%
Policyholder benefits and dividends			0.2	%		0.1	%		(0.3	%)		0.1	%		0.0	%
Other expense ratio			28.0	%		28.2	%		26.7	%		26.8	%		27.5	%
Payment fees credit			(0.4	%)		(0.4	%)		(0.4	%)		(0.4	%)		(0.4	%)
Total combined ratio			84.7	%		72.6	%		94.7	%		105.8	%		89.7	%
Effect of catastrophe losses			9.7	%		1.9	%		15.3	%		26.6	%		15.4	%
Combined ratio excluding catastrophes			75.0	%		70.7	%		79.4	%		79.2	%		74.3	%
Pre-Tax Catastrophe Losses
Auto		$	2		$	(1	)	$	3		$	8		$	3
Homeowners & Other			22			5			35			63			37
Total		$	24		$	4		$	38		$	71		$	40
Catastrophe points on combined ratios			3.4			0.5			5.3			9.8			5.4

30

INTERNATIONAL

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended																For the Year-to-Date Period Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010				September 30, 2009			September 30, 2010
OPERATING REVENUES
Premiums		$	868		$	821		$	893		$	895		$	956			$	2,366		$	2,744
Universal life and investment-type product policy fees			222			403			291			315			302				658			908
Net investment income			395			271			450			297			474				922			1,221
Other revenues			4			6			1			4			7				8			12
Total operating revenues			1,489			1,501			1,635			1,511			1,739				3,954			4,885
OPERATING EXPENSES
Policyholder benefits and dividends			705			807			838			839			852				1,853			2,529
Interest credited to policyholder account balances			198			146			151			42			244				435			437
Interest credited to bank deposits			—			—			—			—			—				—			—
Capitalization of DAC			(164	)		(181	)		(192	)		(168	)		(180	)			(449	)		(540	)
Amortization of DAC and VOBA			79			143			105			115			110				272			330
Interest expense			3			2			1			2			(1	)			6			2
Other expenses			481			544			522			493			519				1,253			1,534
Total operating expenses			1,302			1,461			1,425			1,323			1,544				3,370			4,292
Operating earnings before provision for income tax			187			40			210			188			195				584			593
Provision for income tax expense (benefit)			34			19			59			43			4				142			106
Operating earnings			153			21			151			145			191				442			487
Preferred stock dividends			—			—			—			—			—				—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	153		$	21		$	151		$	145		$	191			$	442		$	487
Net Income Reconciliation
Operating earnings		$	153		$	21		$	151		$	145		$	191			$	442		$	487
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(18	)		(27	)		(35	)		6			(239	)			(78	)		(268	)
Net derivatives gains (losses)			(556	)		(255	)		6			260			(109	)			(543	)		157
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			(3	)		(10	)		(8	)		(14	)		(11	)			(3	)		(33	)
Equity method operating joint ventures			(35	)		(45	)		(5	)		(97	)		—				(111	)		(102	)
Real estate discontinued operations			—			—			—			—			—				—			—
Net investment income related to certain consolidated securitization entities			—			—			—			—			—				—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			(24	)		2			(19	)		(114	)		(138	)			(7	)		(271	)
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Interest expense — related to certain consolidated securitization entities			—			—			—			—			—				—			—
Other expenses:
Noncontrolling interest			(7	)		(11	)		(3	)		(8	)		4				(21	)		(7	)
Business combination costs			—			—			—			—			—				—			—
Provision for income tax (expense) benefit			207			107			24			(106	)		169				259			87
Income (loss) from continuing operations, net of income tax			(283	)		(218	)		111			72			(133	)			(62	)		50
Income (loss) from discontinued operations, net of income tax			—			—			—			—			—				—			—
Net income (loss)			(283	)		(218	)		111			72			(133	)			(62	)		50
Less: Net income (loss) attributable to noncontrolling interest			(5	)		(9	)		(2	)		(8	)		4				(19	)		(6	)
Net income (loss) attributable to MetLife, Inc.			(278	)		(209	)		113			80			(137	)			(43	)		56
Less: Preferred stock dividends			—			—			—			—			—				—			—
Net income (loss) available to MetLife, Inc.’s common shareholders		$	(278	)	$	(209	)	$	113		$	80		$	(137	)		$	(43	)	$	56
Premiums, Fees and Other Revenues		$	1,094		$	1,230		$	1,185		$	1,214		$	1,265			$	3,032		$	3,664
Actual Number of Sales Representatives			5,622			6,318			6,102			6,205			6,661

31

INTERNATIONAL — LATIN AMERICA REGION
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended															For the Year-to-Date Period Ended
	September 30,			December 31,			March 31,			June 30,			September 30,			September 30,			September 30,
Unaudited (In millions)	2009			2009			2010			2010			2010			2009			2010
OPERATING REVENUES
Premiums	$	420		$	429		$	454		$	461		$	519		$	1,134		$	1,434
Universal life and investment-type product policy fees		133			156			150			157			150			391			457
Net investment income		193			119			280			246			230			503			756
Other revenues		3			2			1			2			3			5			6
Total operating revenues		749			706			885			866			902			2,033			2,653
OPERATING EXPENSES
Policyholder benefits and dividends		384			438			486			468			486			975			1,440
Interest credited to policyholder account balances		86			86			90			83			108			245			281
Interest credited to bank deposits		—			—			—			—			—			—			—
Capitalization of DAC		(40	)		(45	)		(49	)		(53	)		(57	)		(115	)		(159	)
Amortization of DAC and VOBA		22			27			37			35			29			88			101
Interest expense		—			—			—			2			(1	)		—			1
Other expenses		193			209			202			201			224			441			627
Total operating expenses		645			715			766			736			789			1,634			2,291
Operating earnings before provision for income tax		104			(9	)		119			130			113			399			362
Provision for income tax expense (benefit)		23			12			34			29			4			110			67
Operating earnings		81			(21	)		85			101			109			289			295
Preferred stock dividends		—			—			—			—			—			—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	81		$	(21	)	$	85		$	101		$	109		$	289		$	295
Net Income Reconciliation
Operating earnings	$	81		$	(21	)	$	85		$	101		$	109		$	289		$	295
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)		(12	)		8			(1	)		(6	)		(14	)		(69	)		(21	)
Net derivatives gains (losses)		(11	)		27			(12	)		(17	)		38			52			9
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		2			(3	)		(1	)		(6	)		1			10			(6	)
Equity method operating joint ventures		—			—			—			—			—			—			—
Real estate discontinued operations		—			—			—			—			—			—			—
Net investment income related to certain consolidated securitization entities		—			—			—			—			—			—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities		(24	)		2			(19	)		(114	)		(138	)		(7	)		(271	)
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		—			—			—			—			—			—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)		—			—			—			—			—			—			—
Interest expense — related to certain consolidated securitization entities		—			—			—			—			—			—			—
Other expenses:
Noncontrolling interest		—			—			—			—			—			—			—
Business combination costs		—			—			—			—			—			—			—
Provision for income tax (expense) benefit		10			(5	)		13			38			33			2			84
Income (loss) from continuing operations, net of income tax		46			8			65			(4	)		29			277			90
Income (loss) from discontinued operations, net of income tax		—			—			—			—			—			—			—
Net income (loss)		46			8			65			(4	)		29			277			90
Less: Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—			—
Net income (loss) attributable to MetLife, Inc.		46			8			65			(4	)		29			277			90
Less: Preferred stock dividends		—			—			—			—			—			—			—
Net income (loss) available to MetLife, Inc.’s common shareholders	$	46		$	8		$	65		$	(4	)	$	29		$	277		$	90
Premiums, Fees and Other Revenues	$	556		$	587		$	605		$	620		$	672		$	1,530		$	1,897
Actual Number of Sales Representatives		114			126			112			104			97

32

INTERNATIONAL — ASIA PACIFIC REGION
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended																For the Year-to-Date Period Ended
Unaudited (In millions)		September 30, 2009			December 31, 2009			March 31, 2010			June 30, 2010			September 30, 2010				September 30, 2009			September 30, 2010
OPERATING REVENUES
Premiums		$	353		$	281		$	334		$	352		$	350			$	971		$	1,036
Universal life and investment-type product policy fees			78			230			120			135			126				232			381
Net investment income			126			131			117			64			165				323			346
Other revenues			—			1			—			1			2				1			3
Total operating revenues			557			643			571			552			643				1,527			1,766
OPERATING EXPENSES
Policyholder benefits and dividends			292			323			308			346			325				803			979
Interest credited to policyholder account balances			40			41			14			(22	)		64				109			56
Interest credited to bank deposits			—			—			—			—			—				—			—
Capitalization of DAC			(88	)		(90	)		(92	)		(89	)		(93	)			(222	)		(274	)
Amortization of DAC and VOBA			49			105			56			67			71				153			194
Interest expense			2			1			—			—			—				3			—
Other expenses			167			185			185			176			185				455			546
Total operating expenses			462			565			471			478			552				1,301			1,501
Operating earnings before provision for income tax			95			78			100			74			91				226			265
Provision for income tax expense (benefit)			13			13			26			16			7				37			49
Operating earnings			82			65			74			58			84				189			216
Preferred stock dividends			—			—			—			—			—				—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	82		$	65		$	74		$	58		$	84			$	189		$	216
Net Income Reconciliation
Operating earnings		$	82		$	65		$	74		$	58		$	84			$	189		$	216
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(7	)		(34	)		6			11			(220	)			(13	)		(203	)
Net derivatives gains (losses)			(548	)		(282	)		20			279			(143	)			(600	)		156
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			(5	)		(7	)		(7	)		(8	)		(12	)			(13	)		(27	)
Equity method operating joint ventures			(35	)		(45	)		(5	)		(97	)		—				(111	)		(102	)
Real estate discontinued operations			—			—			—			—			—				—			—
Net investment income related to certain consolidated securitization entities			—			—			—			—			—				—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			—			—			—			—			—				—			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Interest expense — related to certain consolidated securitization entities			—			—			—			—			—				—			—
Other expenses:
Noncontrolling interest			—			—			—			—			—				—			—
Business combination costs			—			—			—			—			—				—			—
Provision for income tax (expense) benefit			198			112			10			(145	)		136				259			1
Income (loss) from continuing operations, net of income tax			(315	)		(191	)		98			98			(155	)			(289	)		41
Income (loss) from discontinued operations, net of income tax			—			—			—			—			—				—			—
Net income (loss)			(315	)		(191	)		98			98			(155	)			(289	)		41
Less: Net income (loss) attributable to noncontrolling interest			—			—			—			—			—				—			—
Net income (loss) attributable to MetLife, Inc.			(315	)		(191	)		98			98			(155	)			(289	)		41
Less: Preferred stock dividends			—			—			—			—			—				—			—
Net income (loss) available to MetLife, Inc.’s common shareholders		$	(315	)	$	(191	)	$	98		$	98		$	(155	)		$	(289	)	$	41
Premiums, Fees and Other Revenues		$	431		$	512		$	454		$	488		$	478			$	1,204		$	1,420
Actual Number of Sales Representatives			5,508			6,192			5,990			6,101			6,564

33

INTERNATIONAL — EUROPE/MIDDLE EAST/INDIA REGION
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended																For the Year-to-Date Period Ended
Unaudited (In millions)		September 30, 2009			December 31, 2009			March 31, 2010			June 30, 2010			September 30, 2010				September 30, 2009			September 30, 2010
OPERATING REVENUES
Premiums		$	95		$	111		$	105		$	82		$	87			$	261		$	274
Universal life and investment-type product policy fees			11			17			21			23			26				35			70
Net investment income			76			21			53			(13	)		79				96			119
Other revenues			1			3			—			1			2				2			3
Total operating revenues			183			152			179			93			194				394			466
OPERATING EXPENSES
Policyholder benefits and dividends			29			46			44			25			41				75			110
Interest credited to policyholder account balances			72			19			47			(19	)		72				81			100
Interest credited to bank deposits			—			—			—			—			—				—			—
Capitalization of DAC			(36	)		(46	)		(51	)		(26	)		(30	)			(112	)		(107	)
Amortization of DAC and VOBA			8			11			12			13			10				31			35
Interest expense			1			1			1			—			—				3			1
Other expenses			121			150			135			116			110				357			361
Total operating expenses			195			181			188			109			203				435			500
Operating earnings before provision for income tax			(12	)		(29	)		(9	)		(16	)		(9	)			(41	)		(34	)
Provision for income tax expense (benefit)			(2	)		(6	)		(1	)		(2	)		(7	)			(5	)		(10	)
Operating earnings			(10	)		(23	)		(8	)		(14	)		(2	)			(36	)		(24	)
Preferred stock dividends			—			—			—			—			—				—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	(10	)	$	(23	)	$	(8	)	$	(14	)	$	(2	)		$	(36	)	$	(24	)
Net Income Reconciliation
Operating earnings		$	(10	)	$	(23	)	$	(8	)	$	(14	)	$	(2	)		$	(36	)	$	(24	)
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			1			(1	)		(40	)		1			(5	)			4			(44	)
Net derivatives gains (losses)			3			—			(2	)		(2	)		(4	)			5			(8	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Equity method operating joint ventures			—			—			—			—			—				—			—
Real estate discontinued operations			—			—			—			—			—				—			—
Net investment income related to certain consolidated securitization entities			—			—			—			—			—				—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			—			—			—			—			—				—			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Interest expense — related to certain consolidated securitization entities			—			—			—			—			—				—			—
Other expenses:
Noncontrolling interest			(7	)		(11	)		(3	)		(8	)		4				(21	)		(7	)
Business combination costs			—			—			—			—			—				—			—
Provision for income tax (expense) benefit			(1	)		—			1			1			—				(2	)		2
Income (loss) from continuing operations, net of income tax			(14	)		(35	)		(52	)		(22	)		(7	)			(50	)		(81	)
Income (loss) from discontinued operations, net of income tax			—			—			—			—			—				—			—
Net income (loss)			(14	)		(35	)		(52	)		(22	)		(7	)			(50	)		(81	)
Less: Net income (loss) attributable to noncontrolling interest			(5	)		(9	)		(2	)		(8	)		4				(19	)		(6	)
Net income (loss) attributable to MetLife, Inc.			(9	)		(26	)		(50	)		(14	)		(11	)			(31	)		(75	)
Less: Preferred stock dividends			—			—			—			—			—				—			—
Net income (loss) available to MetLife, Inc.’s common shareholders		$	(9	)	$	(26	)	$	(50	)	$	(14	)	$	(11	)		$	(31	)	$	(75	)
Premiums, Fees and Other Revenues		$	107		$	131		$	126		$	106		$	115			$	298		$	347
Actual Number of Sales Representatives			—			—			—			—			—

34

BANKING, CORPORATE & OTHER

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended																For the Year-to-Date Period Ended
		September 30,			December 31,			March 31,			June 30,			September 30,				September 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010				2009			2010
OPERATING REVENUES
Premiums		$	5		$	8		$	—		$	3		$	3			$	11		$	6
Universal life and investment-type product policy fees			—			—			—			—			—				—			—
Net investment income			120			171			243			223			225				306			691
Other revenues			274			270			213			231			309				822			753
Total operating revenues			399			449			456			457			537				1,139			1,450
OPERATING EXPENSES
Policyholder benefits and dividends			—			1			(5	)		(2	)		(4	)			3			(11	)
Interest credited to policyholder account balances			—			—			—			—			—				—			—
Interest credited to bank deposits			37			43			39			36			33				120			108
Capitalization of DAC			—			—			—			—			—				—			—
Amortization of DAC and VOBA			—			1			—			—			(1	)			2			(1	)
Interest expense			270			265			261			262			292				762			815
Other expenses			297			421			274			273			278				915			825
Total operating expenses			604			731			569			569			598				1,802			1,736
Operating earnings before provision for income tax			(205	)		(282	)		(113	)		(112	)		(61	)			(663	)		(286	)
Provision for income tax expense (benefit)			(167	)		(203	)		(69	)		(102	)		(14	)			(414	)		(185	)
Operating earnings			(38	)		(79	)		(44	)		(10	)		(47	)			(249	)		(101	)
Preferred stock dividends			30			31			30			31			30				91			91
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	(68	)	$	(110	)	$	(74	)	$	(41	)	$	(77	)		$	(340	)	$	(192	)
Net Income Reconciliation
Operating earnings		$	(38	)	$	(79	)	$	(44	)	$	(10	)	$	(47	)		$	(249	)	$	(101	)
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(172	)		1			(8	)		(102	)		(228	)			(270	)		(338	)
Net derivatives gains (losses)			(345	)		(30	)		(19	)		72			(140	)			(444	)		(87	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			12			9			8			8			4				13			20
Equity method operating joint ventures			—			—			—			—			—				—			—
Real estate discontinued operations			—			—			—			—			13				—			13
Net investment income related to certain consolidated securitization entities			—			—			106			103			103				—			312
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			—			—			—			—			—				—			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Interest expense — related to certain consolidated securitization entities			—			—			(106	)		(103	)		(103	)			—			(312	)
Other expenses:
Noncontrolling interest			—			2			1			(5	)		—				(9	)		(4	)
Business combination costs			(22	)		2			(29	)		(36	)		(46	)			(33	)		(111	)
Provision for income tax (expense) benefit			187			89			17			24			136				265			177
Income (loss) from continuing operations, net of income tax			(378	)		(6	)		(74	)		(49	)		(308	)			(727	)		(431	)
Income (loss) from discontinued operations, net of income tax			(2	)		(4	)		—			—			(3	)			10			(3	)
Net income (loss)			(380	)		(10	)		(74	)		(49	)		(311	)			(717	)		(434	)
Less: Net income (loss) attributable to noncontrolling interest			—			1			1			(3	)		—				(6	)		(2	)
Net income (loss) attributable to MetLife, Inc.			(380	)		(11	)		(75	)		(46	)		(311	)			(711	)		(432	)
Less: Preferred stock dividends			30			31			30			31			30				91			91
Net income (loss) available to MetLife, Inc.’s common shareholders		$	(410	)	$	(42	)	$	(105	)	$	(77	)	$	(341	)		$	(802	)	$	(523	)
Premiums, Fees and Other Revenues		$	279		$	278		$	213		$	234		$	312			$	833		$	759

35

BANKING, CORPORATE & OTHER — BANKING
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended																For the Year-to-Date Period Ended
		September 30,			December 31,			March 31,			June 30,			September 30,				September 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010				2009			2010
OPERATING REVENUES
Premiums		$	—		$	—		$	—		$	—		$	—			$	—		$	—
Universal life and investment-type product policy fees			—			—			—			—			—				—			—
Net investment income			115			119			108			113			117				365			338
Other revenues			264			258			191			224			293				790			708
Total operating revenues			379			377			299			337			410				1,155			1,046
OPERATING EXPENSES
Policyholder benefits and dividends			—			—			—			—			—				—			—
Interest credited to policyholder account balances			—			—			—			—			—				—			—
Interest credited to bank deposits			37			43			39			36			33				120			108
Capitalization of DAC			—			—			—			—			—				—			—
Amortization of DAC and VOBA			—			—			—			—			—				—			—
Interest expense			16			13			12			12			17				43			41
Other expenses			178			214			160			179			193				609			532
Total operating expenses			231			270			211			227			243				772			681
Operating earnings before provision for income tax			148			107			88			110			167				383			365
Provision for income tax expense (benefit)			68			42			35			43			66				150			144
Operating earnings			80			65			53			67			101				233			221
Preferred stock dividends			—			—			—			—			—				—			—
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	80		$	65		$	53		$	67		$	101			$	233		$	221
Net Income Reconciliation
Operating earnings		$	80		$	65		$	53		$	67		$	101			$	233		$	221
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(35	)		(17	)		(5	)		(7	)		(18	)			(112	)		(30	)
Net derivatives gains (losses)			(7	)		(1	)		(7	)		(32	)		(9	)			—			(48	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			1			—			—			—				1			—
Equity method operating joint ventures			—			—			—			—			—				—			—
Real estate discontinued operations			—			—			—			—			—				—			—
Net investment income related to certain consolidated securitization entities			—			—			—			—			—				—			—
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			—			—			—			—			—				—			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Interest expense — related to certain consolidated securitization entities			—			—			—			—			—				—			—
Other expenses:
Noncontrolling interest			—			1			—			1			(1	)			1			—
Business combination costs			—			—			—			—			—				—			—
Provision for income tax (expense) benefit			19			8			5			15			11				43			31
Income (loss) from continuing operations, net of income tax			57			57			46			44			84				166			174
Income (loss) from discontinued operations, net of income tax			—			—			—			—			—				—			—
Net income (loss)			57			57			46			44			84				166			174
Less: Net income (loss) attributable to noncontrolling interest			—			—			—			1			(1	)			1			—
Net income (loss) attributable to MetLife, Inc.			57			57			46			43			85				165			174
Less: Preferred stock dividends			—			—			—			—			—				—			—
Net income (loss) available to MetLife, Inc.’s common shareholders		$	57		$	57		$	46		$	43		$	85			$	165		$	174
Premiums, Fees and Other Revenues		$	264		$	258		$	191		$	224		$	293			$	790		$	708

36

BANKING, CORPORATE & OTHER — CORPORATE & OTHER
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended																For the Year-to-Date Period Ended
		September 30,			December 31,			March 31,			June 30,			September 30,				September 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010				2009			2010
OPERATING REVENUES
Premiums		$	5		$	8		$	—		$	3		$	3			$	11		$	6
Universal life and investment-type product policy fees			—			—			—			—			—				—			—
Net investment income			5			52			135			110			108				(59	)		353
Other revenues			10			12			22			7			16				32			45
Total operating revenues			20			72			157			120			127				(16	)		404
OPERATING EXPENSES
Policyholder benefits and dividends			—			1			(5	)		(2	)		(4	)			3			(11	)
Interest credited to policyholder account balances			—			—			—			—			—				—			—
Interest credited to bank deposits			—			—			—			—			—				—			—
Capitalization of DAC			—			—			—			—			—				—			—
Amortization of DAC and VOBA			—			1			—			—			(1	)			2			(1	)
Interest expense			254			252			249			250			275				719			774
Other expenses			119			207			114			94			85				306			293
Total operating expenses			373			461			358			342			355				1,030			1,055
Operating earnings before provision for income tax			(353	)		(389	)		(201	)		(222	)		(228	)			(1,046	)		(651	)
Provision for income tax expense (benefit)			(235	)		(245	)		(104	)		(145	)		(80	)			(564	)		(329	)
Operating earnings			(118	)		(144	)		(97	)		(77	)		(148	)			(482	)		(322	)
Preferred stock dividends			30			31			30			31			30				91			91
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$	(148	)	$	(175	)	$	(127	)	$	(108	)	$	(178	)		$	(573	)	$	(413	)
Net Income Reconciliation
Operating earnings		$	(118	)	$	(144	)	$	(97	)	$	(77	)	$	(148	)		$	(482	)	$	(322	)
Adjustments from operating earnings to income (loss) from continuing operations, net of income tax:
Net investment gains (losses)			(137	)		18			(3	)		(95	)		(210	)			(158	)		(308	)
Net derivatives gains (losses)			(338	)		(29	)		(12	)		104			(131	)			(444	)		(39	)
Universal life and investment-type product policy fees — amortization of unearned revenue related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Net investment income:
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			12			8			8			8			4				12			20
Equity method operating joint ventures			—			—			—			—			—				—			—
Real estate discontinued operations			—			—			—			—			13				—			13
Net investment income related to certain consolidated securitization entities			—			—			106			103			103				—			312
Policyholder benefits and policyholder dividends:
Changes in policyholder dividend obligations related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Changes in asset value fluctuations related to experience-rated contractholder liabilities and certain inflation-indexed liabilities			—			—			—			—			—				—			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting			—			—			—			—			—				—			—
Amortization of DAC and VOBA — related to net investment gains (losses) and net derivatives gains (losses)			—			—			—			—			—				—			—
Interest expense — related to certain consolidated securitization entities			—			—			(106	)		(103	)		(103	)			—			(312	)
Other expenses:
Noncontrolling interest			—			1			1			(6	)		1				(10	)		(4	)
Business combination costs			(22	)		2			(29	)		(36	)		(46	)			(33	)		(111	)
Provision for income tax (expense) benefit			168			81			12			9			125				222			146
Income (loss) from continuing operations, net of income tax			(435	)		(63	)		(120	)		(93	)		(392	)			(893	)		(605	)
Income (loss) from discontinued operations, net of income tax			(2	)		(4	)		—			—			(3	)			10			(3	)
Net income (loss)			(437	)		(67	)		(120	)		(93	)		(395	)			(883	)		(608	)
Less: Net income (loss) attributable to noncontrolling interest			—			1			1			(4	)		1				(7	)		(2	)
Net income (loss) attributable to MetLife, Inc.			(437	)		(68	)		(121	)		(89	)		(396	)			(876	)		(606	)
Less: Preferred stock dividends			30			31			30			31			30				91			91
Net income (loss) available to MetLife, Inc.’s common shareholders		$	(467	)	$	(99	)	$	(151	)	$	(120	)	$	(426	)		$	(967	)	$	(697	)
Premiums, Fees and Other Revenues		$	15		$	20		$	22		$	10		$	19			$	43		$	51

37

BANKING, CORPORATE & OTHER — BANKING (1), (2)

SUPPLEMENTAL INFORMATION

	At or For the Three Months Ended															At or For the Year-to-Date Period Ended
	September 30,			December 31,			March 31,			June 30,			September 30,			September 30,			September 30,
Unaudited (In millions, except ratios)	2009			2009			2010			2010			2010			2009			2010
The following supplemental information for MetLife Bank is presented in accordance with Banking Standards:
Income Statement
Net interest income, net of interest expense	$	66		$	64		$	58		$	64		$	67		$	199		$	189
Provision for credit losses		(27	)		6			(4	)		—			(11	)		(83	)		(15	)
Non interest income		248			242			185			192			281			771			658
Non interest expense		(181	)		(220	)		(163	)		(185	)		(197	)		(615	)		(545	)
Income before taxes		106			92			76			71			140			272			287
Income tax expense		49			35			30			28			55			107			113
Net income (loss) available to MetLife, Inc.’s common shareholders	$	57		$	57		$	46		$	43		$	85		$	165		$	174
Selected Balance Sheet Accounts
Loans Held-for-Investment:
Commercial Loans & Mortgages	$	1,965		$	2,079		$	2,104		$	2,113		$	2,320
Consumer		805			834			938			1,194			1,289
Agriculture		176			173			174			189			215
Total Loans		2,946			3,086			3,216			3,496			3,824
Allowance for Loan Losses		(101	)		(93	)		(73	)		(71	)		(62	)
Total Loans Held-for-Investments (Net)	$	2,845		$	2,993		$	3,143		$	3,425		$	3,762
Net Charge-offs	$	13		$	2		$	24		$	1		$	20		$	13		$	45
Loans Held-for-Sale	$	2,442		$	2,728		$	2,003		$	2,629		$	2,837
Total Assets	$	13,140		$	14,107		$	13,573		$	14,549		$	16,576
Total Deposits	$	8,372		$	10,211		$	10,032		$	9,790		$	9,362
Key Ratios & Statistics
Tier 1 Common Equity	$	859		$	897		$	947		$	1,011		$	1,093
Tier 1 Capital	$	860		$	898		$	948		$	1,013		$	1,093
Risk Weighted Assets	$	6,796		$	7,381		$	6,909		$	7,221		$	8,069
Tier 1 Common Equity Ratio		12.64	%		12.15	%		13.71	%		14.00	%		13.54	%
Tier 1 Capital Ratio		12.65	%		12.16	%		13.73	%		14.03	%		13.54	%
Total Capital Ratio		13.90	%		13.41	%		14.83	%		15.06	%		14.34	%
Tier 1 Leverage		6.37	%		6.64	%		7.05	%		7.38	%		7.27	%
Net Interest Margin		2.20	%		1.98	%		1.91	%		2.02	%		1.94	%		2.22	%		1.95	%
Allowance / Total Loans		3.44	%		3.01	%		2.27	%		2.04	%		1.63	%
Allowance / Non Performing Assets		135.94	%		113.00	%		162.00	%		176.00	%		144.00	%

(1)	All amounts on this page relate to MetLife Bank only.
(2)	Current period numbers are preliminary, subject to regulatory filing on October 29, 2010.

38

METLIFE, INC.

INVESTMENT PORTFOLIO RESULTS BY ASSET CATEGORY AND ANNUALIZED YIELDS

	At or For the Three Months Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Fixed Maturity Securities
Yield (1)			5.89	%		5.59	%		5.73	%		5.33	%		5.79	%
Investment income (2), (3)		$	3,090		$	2,973		$	3,134		$	2,959		$	3,257
Investment gains (losses) (3)			(455	)		(221	)		(67	)		(126	)		(65	)
Ending carrying value (2), (3)			225,866			230,026			242,331			249,249			264,320
Mortgage Loans
Yield (1)			5.33	%		5.50	%		5.40	%		5.55	%		5.54	%
Investment income (3), (4)			675			686			672			695			712
Investment gains (losses) (3)			(129	)		(42	)		(28	)		11			37
Ending carrying value (3)			50,681			50,909			50,371			51,144			52,845
Real Estate and Real Estate Joint Ventures
Yield (1)			(6.09	%)		(5.64	%)		(2.11	%)		3.15	%		2.80	%
Investment income			(109	)		(98	)		(36	)		54			48
Investment gains (losses) (3)			(70	)		7			(22	)		(17	)		(1	)
Ending carrying value			7,032			6,896			6,866			6,841			6,990
Policy Loans
Yield (1)			6.56	%		6.67	%		7.04	%		6.25	%		6.18	%
Investment income			163			167			178			159			157
Ending carrying value			10,001			10,061			10,146			10,180			10,230
Equity Securities
Yield (1)			4.50	%		6.13	%		3.39	%		5.40	%		2.74	%
Investment income			37			47			25			39			19
Investment gains (losses)			(53	)		31			27			74			(1	)
Ending carrying value			3,117			3,084			3,066			2,741			2,865
Other Limited Partnership Interests
Yield (1)			9.75	%		16.90	%		18.85	%		11.13	%		11.48	%
Investment income			127			227			265			161			170
Investment gains (losses)			(12	)		—			(1	)		(10	)		(4	)
Ending carrying value			5,255			5,508			5,753			5,856			5,948
Cash and Short-term Investments
Yield (1)			0.45	%		0.34	%		0.36	%		0.37	%		0.41	%
Investment income			20			14			13			15			20
Investment gains (losses)			5			1			1			—			—
Ending carrying value (3)			22,423			18,486			17,183			20,421			26,100
Other Invested Assets (5)
Investment income			54			95			154			166			75
Investment gains (losses) (3)			(31	)		11			58			17			(67	)
Ending carrying value			13,916			12,709			12,327			15,584			16,571
Total Investments
Investment income yield (1)			5.14	%		5.21	%		5.53	%		5.23	%		5.31	%
Investment fees and expenses yield			(0.13	)		(0.14	)		(0.14	)		(0.13	)		(0.14	)
Net Investment Income Yield			5.01	%		5.07	%		5.39	%		5.10	%		5.17	%
Investment income			4,057			4,111			4,405			4,248			4,458
Investment fees and expenses			(101	)		(111	)		(112	)		(105	)		(121	)
Net Investment Income (3)		$	3,956		$	4,000		$	4,293		$	4,143		$	4,337
Ending Carrying Value (3)		$	338,291		$	337,679		$	348,043		$	362,016		$	385,869
Gross investment gains		$	327		$	288		$	274		$	413		$	212
Gross investment losses			(411	)		(204	)		(157	)		(292	)		(215	)
Writedowns			(661	)		(297	)		(149	)		(172	)		(98	)
Investment Portfolio Gains (Losses) (3)			(745	)		(213	)		(32	)		(51	)		(101	)
Investment portfolio gains (losses) income tax benefit (provision)			264			143			8			11			29
Investment Portfolio Gains (Losses), Net of Income Tax			(481	)		(70	)		(24	)		(40	)		(72	)
Derivatives Gains (Losses) (3)			(1,437	)		(855	)		(10	)		1,322			(311	)
Derivatives gains (losses) income tax benefit (provision)			491			298			11			(540	)		121
Derivatives Gains (Losses), Net of Income Tax		$	(946	)	$	(557	)	$	1		$	782		$	(190	)

(1)	Yields are based on quarterly average asset carrying values, excluding recognized and unrealized investment gains (losses), and for yield calculation purposes, average of quarterly ending assets exclude collateral received from counterparties associated with the Company’s securities lending program and exclude the effects of consolidating under GAAP certain VIEs that are treated as consolidated securitization entities.
(2)	Fixed maturity securities includes $1,970 million, $2,384 million, $2,765 million, $2,901 million and $3,756 million in ending carrying value, and $163 million, $90 million, $79 million, ($56) million and $194 million of investment income related to trading securities at or for the three months ended September 30, 2009, December 31, 2009, March 31, 2010, June 30, 2010 and September 30, 2010, respectively.
(3)	Certain measures in this yield table vary from the most directly comparable measures presented in accordance with GAAP. The reconciliation of the yield table measures to the most directly comparable measures presented in accordance with GAAP are: 1) Ending carrying value adjustments for the effects of consolidating under GAAP certain VIEs that are treated as consolidated securitization entities which include trading securities (included within fixed maturity securities in the yield table above) of $274 million, $257 million and $231 million, mortgage loans of $7,065 million, $7,107 million and $7,093 million and cash and short-term investments of $38 million, $27 million and $47 million at March 31, 2010, June 30, 2010 and September 30, 2010, respectively; 2) Investment income and net investment income adjustments as presented on page 4 within the Net Income Reconciliation; 3) Investment portfolio gains (losses) presented in the above yield table and GAAP net investment gains (losses) adjustments as presented below; and 4) Derivatives gains (losses) presented in the above yield table and GAAP net derivatives gains (losses) adjustments as presented below:

	For the Three Months Ended
	September 30, 2009			December 31, 2009			March 31, 2010			June 30, 2010			September 30, 2010
Investment portfolio gains (losses) — in above yield table	$	(745	)	$	(213	)	$	(32	)	$	(51	)	$	(101	)
Real estate discontinued operations		—			(8	)		—			(10	)		—
Net investment gains (losses) related to certain consolidated securitization entities		—			—			10			(2	)		16
Other gains (losses) reported in net investment gains (losses) on GAAP basis		13			105			53			50			(257	)
Net investment gains (losses) — GAAP basis	$	(732	)	$	(116	)	$	31		$	(13	)	$	(342	)
	For the Three Months Ended
	September 30, 2009			December 31, 2009			March 31, 2010			June 30, 2010			September 30, 2010
Derivative gains (losses) — in above yield table	$	(1,437	)	$	(855	)	$	(10	)	$	1,322		$	(311	)
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		(4	)		29			49			61			62
Equity method operating joint ventures		35			45			5			97			—
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		(1	)		(1	)		(3	)		1			5
Net derivatives gains (losses) — GAAP basis	$	(1,407	)	$	(782	)	$	41		$	1,481		$	(244	)

(4)

Investment income from mortgage loans includes prepayment fees.

(5)

Other invested assets is principally comprised of freestanding derivatives with positive estimated fair values and leveraged leases. Freestanding derivatives with negative estimated fair values are included within other liabilities. However, the accruals of settlement payments in other liabilities are included in net investment income for GAAP. As yield is not considered a meaningful measure of performance for other invested assets, it has been excluded from the above yield table.

39

METLIFE, INC.
INVESTMENT PORTFOLIO RESULTS BY ASSET CATEGORY AND ANNUALIZED YIELDS

	At or For the Year-to-Date Period Ended
		September 30,			December 31,			March 31,			June 30,			September 30,
Unaudited (In millions)		2009			2009			2010			2010			2010
Fixed Maturity Securities
Yield (1)			5.83	%		5.77	%		5.73	%		5.53	%		5.62	%
Investment income (2), (3)		$	8,926		$	11,899		$	3,134		$	6,093		$	9,350
Investment gains (losses) (3)			(1,442	)		(1,663	)		(67	)		(193	)		(258	)
Ending carrying value (2), (3)			225,866			230,026			242,331			249,249			264,320
Mortgage Loans
Yield (1)			5.34	%		5.38	%		5.40	%		5.47	%		5.49	%
Investment income (3), (4)			2,049			2,735			672			1,367			2,079
Investment gains (losses) (3)			(400	)		(442	)		(28	)		(17	)		20
Ending carrying value (3)			50,681			50,909			50,371			51,144			52,845
Real Estate and Real Estate Joint Ventures
Yield (1)			(8.05	%)		(7.47	%)		(2.11	%)		0.52	%		1.28	%
Investment income			(443	)		(541	)		(36	)		18			66
Investment gains (losses) (3)			(163	)		(156	)		(22	)		(39	)		(40	)
Ending carrying value			7,032			6,896			6,866			6,841			6,990
Policy Loans
Yield (1)			6.49	%		6.54	%		7.04	%		6.64	%		6.49	%
Investment income			481			648			178			337			494
Ending carrying value			10,001			10,061			10,146			10,180			10,230
Equity Securities
Yield (1)			4.83	%		5.12	%		3.39	%		4.37	%		3.84	%
Investment income			128			175			25			64			83
Investment gains (losses)			(430	)		(399	)		27			101			100
Ending carrying value			3,117			3,084			3,066			2,741			2,865
Other Limited Partnership Interests
Yield (1)			(1.32	%)		3.22	%		18.85	%		14.93	%		13.75	%
Investment income			(54	)		173			265			426			596
Investment gains (losses)			(356	)		(356	)		(1	)		(11	)		(15	)
Ending carrying value			5,255			5,508			5,753			5,856			5,948
Cash and Short-term Investments
Yield (1)			0.46	%		0.44	%		0.36	%		0.37	%		0.39	%
Investment income			80			94			13			28			48
Investment gains (losses)			5			6			1			1			1
Ending carrying value (3)			22,423			18,486			17,183			20,421			26,100
Other Invested Assets (5)
Investment income			244			339			154			320			395
Investment gains (losses) (3)			(41	)		(32	)		58			75			8
Ending carrying value			13,916			12,709			12,327			15,584			16,571
Total Investments
Investment income yield (1)			4.80	%		4.90	%		5.53	%		5.38	%		5.35	%
Investment fees and expenses yield			(0.14	)		(0.14	)		(0.14	)		(0.13	)		(0.14	)
Net Investment Income Yield			4.66	%		4.76	%		5.39	%		5.25	%		5.21	%
Investment income			11,411			15,522			4,405			8,653			13,111
Investment fees and expenses			(322	)		(433	)		(112	)		(217	)		(338	)
Net Investment Income (3)		$	11,089		$	15,089		$	4,293		$	8,436		$	12,773
Ending Carrying Value (3)		$	338,291		$	337,679		$	348,043		$	362,016		$	385,869
Gross investment gains		$	945		$	1,232		$	274		$	687		$	899
Gross investment losses			(1,224	)		(1,429	)		(157	)		(449	)		(664	)
Writedowns			(2,548	)		(2,845	)		(149	)		(321	)		(419	)
Investment Portfolio Gains (Losses) (3)			(2,827	)		(3,042	)		(32	)		(83	)		(184	)
Investment portfolio gains (losses) income tax benefit (provision)			978			1,121			8			19			48
Investment Portfolio Gains (Losses), Net of Income Tax			(1,849	)		(1,921	)		(24	)		(64	)		(136	)
Derivatives Gains (Losses) (3)			(4,251	)		(5,106	)		(10	)		1,312			1,001
Derivatives gains (losses) income tax benefit (provision)			1,505			1,803			11			(529	)		(408	)
Derivatives Gains (Losses), Net of Income Tax		$	(2,746	)	$	(3,303	)	$	1		$	783		$	593

(1)	Yields are based on average of quarterly asset carrying values, excluding recognized and unrealized investment gains (losses), and for yield calculation purposes, average of quarterly ending assets exclude collateral received from counterparties associated with the Company’s securities lending program and exclude the effects of consolidating under GAAP certain VIEs that are treated as consolidated securitization entities.
(2)	Fixed maturity securities includes $1,970 million, $2,384 million, $2,765 million, $2,901 million and $3,756 million in ending carrying value, and $310 million, $400 million, $79 million, $23 million and $217 million of investment income related to trading securities at or for the year-to-date period ended September 30, 2009, December 31, 2009, March 31, 2010, June 30, 2010 and September 30, 2010, respectively.
(3)	Certain measures in this yield table vary from the most directly comparable measures presented in accordance with GAAP. The reconciliation of the yield table measures to the most directly comparable measures presented in accordance with GAAP are: 1) Ending carrying value adjustments for the effects of consolidating under GAAP certain VIEs that are treated as consolidated securitization entities which include trading securities (included within fixed maturity securities in the yield table above) of $274 million, $257 million and $231 million, mortgage loans of $7,065 million, $7,107 million and $7,093 million and cash and short-term investments of $38 million, $27 million and $47 million at March 31, 2010, June 30, 2010 and September 30, 2010, respectively; 2) Investment income and net investment income adjustments as presented on page 4 within the Net Income Reconciliation; 3) Investment portfolio gains (losses) presented in the above yield table and GAAP net investment gains (losses) adjustments as presented below; and 4) Derivatives gains (losses) presented in the above yield table and GAAP net derivatives gains (losses) adjustments as presented below:

	For the Year-to-Date Period Ended
	September 30, 2009			December 31, 2009			March 31, 2010			June 30, 2010			September 30, 2010
Investment portfolio gains (losses) — in above yield table	$	(2,827	)	$	(3,042	)	$	(32	)	$	(83	)	$	(184	)
Real estate discontinued operations		—			(8	)		—			(10	)		(10	)
Net investment gains (losses) related to certain consolidated securitization entities		—			—			10			8			24
Other gains (losses) reported in net investment gains (losses) on GAAP basis		37			144			53			103			(154	)
Net investment gains (losses) — GAAP basis	$	(2,790	)	$	(2,906	)	$	31		$	18		$	(324	)
	For the Year-to-Date Period Ended
	September 30, 2009			December 31, 2009			March 31, 2010			June 30, 2010			September 30, 2010
Derivative gains (losses) — in above yield table	$	(4,251	)	$	(5,106	)	$	(10	)	$	1,312		$	1,001
Scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		59			88			49			110			172
Equity method operating joint ventures		111			156			5			102			102
Interest credited to policyholder account balances — scheduled periodic settlement payments on derivatives not qualifying for hedge accounting		(3	)		(4	)		(3	)		(2	)		3
Net derivatives gains (losses) — GAAP basis	$	(4,084	)	$	(4,866	)	$	41		$	1,522		$	1,278

(4)

Investment income from mortgage loans includes prepayment fees.

(5)

Other invested assets is principally comprised of freestanding derivatives with positive estimated fair values and leveraged leases. Freestanding derivatives with negative estimated fair values are included within other liabilities. However, the accruals of settlement payments in other liabilities are included in net investment income for GAAP. As yield is not considered a meaningful measure of performance for other invested assets, it has been excluded from the above yield table.

40

METLIFE, INC.

GROSS UNREALIZED GAINS AND LOSSES AGING SCHEDULE

FIXED MATURITY SECURITIES AVAILABLE-FOR-SALE (1)

	September 30, 2009						December 31, 2009					March 31, 2010					June 30, 2010					September 30, 2010
Unaudited (In millions)		Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total
Less than 20%		$	4,050		35.4	%	$	4,815		45.9	%	$	4,244		51.4	%	$	3,070		46.2	%	$	2,037		44.4	%
20% or more for less than six months			540		4.7	%		713		6.8	%		480		5.8	%		595		9.0	%		285		6.2	%
20% or more for six months or greater			6,850		59.9	%		4,958		47.3	%		3,528		42.8	%		2,971		44.8	%		2,271		49.4	%
Total Gross Unrealized Losses		$	11,440		100.0	%	$	10,486		100.0	%	$	8,252		100.0	%	$	6,636		100.0	%	$	4,593		100.0	%
Total Gross Unrealized Gains		$	10,062				$	8,419				$	9,757				$	14,107				$	19,498
GROSS UNREALIZED GAINS AND LOSSES AGING SCHEDULE EQUITY SECURITIES AVAILABLE-FOR-SALE (1)
	September 30, 2009						December 31, 2009					March 31, 2010					June 30, 2010					September 30, 2010
Unaudited (In millions)		Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total
Less than 20%		$	85		21.3	%	$	83		30.2	%	$	84		34.0	%	$	65		20.3	%	$	67		29.3	%
20% or more for less than six months			13		3.3	%		14		5.1	%		35		14.2	%		129		40.3	%		25		10.9	%
20% or more for six months or greater			300		75.4	%		178		64.7	%		128		51.8	%		126		39.4	%		137		59.8	%
Total Gross Unrealized Losses		$	398		100.0	%	$	275		100.0	%	$	247		100.0	%	$	320		100.0	%	$	229		100.0	%
Total Gross Unrealized Gains		$	166				$	172				$	208				$	105				$	158

(1) The Company’s review of its fixed maturity securities and equity securities for impairments includes an analysis of the total gross unrealized losses by three categories of securities: (i) securities where the estimated fair value had declined and remained below cost or amortized cost by less than 20%; (ii) securities where the estimated fair value had declined and remained below cost or amortized cost by 20% or more for less than six months; and (iii) securities where the estimated fair value had declined and remained below cost or amortized cost by 20% or more for six months or greater.

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METLIFE, INC.

SUMMARY OF FIXED MATURITY SECURITIES AVAILABLE-FOR-SALE

BY SECTOR AND QUALITY DISTRIBUTION

		September 30, 2009						December 31, 2009					March 31, 2010					June 30, 2010					September 30, 2010
Unaudited (In millions)			Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total
U.S. corporate securities			$	71,642		32.1	%	$	72,187		31.7	%	$	74,133		31.0	%	$	76,848		31.2	%	$	81,020		31.1	%
Residential mortgage-backed securities				43,397		19.4	%		44,020		19.3	%		42,980		17.9	%		42,750		17.3	%		45,900		17.6	%
Foreign corporate securities				36,592		16.3	%		38,030		16.7	%		40,105		16.7	%		40,863		16.6	%		44,970		17.2	%
U.S. Treasury, agency and government guaranteed securities				25,467		11.4	%		25,447		11.2	%		30,741		12.8	%		32,862		13.3	%		34,360		13.2	%
Commercial mortgage-backed securities				15,535		6.9	%		15,622		6.9	%		16,495		6.9	%		15,984		6.5	%		15,533		6.0	%
Foreign government securities				11,447		5.1	%		11,947		5.2	%		13,164		5.5	%		13,559		5.5	%		14,844		5.7	%
Asset-backed securities				13,251		5.9	%		13,162		5.8	%		13,892		5.8	%		14,419		5.9	%		14,306		5.5	%
State and political subdivision securities				6,549		2.9	%		7,208		3.2	%		8,039		3.4	%		9,048		3.7	%		9,614		3.7	%
Other fixed maturity securities				16		0.0	%		19		0.0	%		17		0.0	%		15		0.0	%		17		0.0	%
Total fixed maturity securities available-for-sale			$	223,896		100.0	%	$	227,642		100.0	%	$	239,566		100.0	%	$	246,348		100.0	%	$	260,564		100.0	%
	RATING
NAIC	AGENCY
RATING	DESIGNATION
				(1)					(2)					(2)					(2)					(2)
1	Aaa / Aa / A		$	153,893		68.7	%	$	151,136		66.4	%	$	160,030		66.8	%	$	164,338		66.7	%	$	173,111		66.5	%
2	Baa			48,612		21.7	%		56,305		24.7	%		59,061		24.6	%		61,217		24.8	%		66,005		25.3	%
3	Ba			9,860		4.4	%		12,003		5.3	%		12,105		5.1	%		12,773		5.2	%		13,289		5.1	%
4	B			5,927		2.7	%		6,461		2.9	%		6,937		2.9	%		6,924		2.8	%		7,022		2.7	%
5	Caa and lower			5,330		2.4	%		1,425		0.6	%		1,282		0.5	%		910		0.4	%		835		0.3	%
6	In or near default			274		0.1	%		312		0.1	%		151		0.1	%		186		0.1	%		302		0.1	%
Total fixed maturity securities available-for-sale			$	223,896		100.0	%	$	227,642		100.0	%	$	239,566		100.0	%	$	246,348		100.0	%	$	260,564		100.0	%

(1)

Amounts presented are based on rating agency designations and equivalent ratings of the National Association of Insurance Commissioners (“NAIC”). The rating agency designations are based on availability of applicable ratings from those rating agencies on the NAIC acceptable rating organizations list.

(2)

Amounts presented are based on rating agency designations and equivalent ratings of the NAIC, with the exception of non-agency residential mortgage-backed securities held by the Company’s domestic insurance subsidiaries. Amounts presented for non-agency residential mortgage-backed securities held by the Company’s domestic insurance subsidiaries are based on final ratings from the revised NAIC rating methodology which became effective December 31, 2009, which may not correspond to the rating agency designations. Specifically, certain non-agency residential mortgage-backed securities rated Caa and lower and in or near default based on rating agency designations are presented at December 31, 2009, March 31, 2010, June 30, 2010 and September 30, 2010 with their final NAIC rating ranging from NAIC 1 to NAIC 4 based on the revised NAIC rating methodology effective December 31, 2009.

SUMMARY OF COMMERCIAL MORTGAGE LOANS
BY REGION AND PROPERTY TYPE

	September 30, 2009						December 31, 2009					March 31, 2010					June 30, 2010					September 30, 2010
Unaudited (In millions)		Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total
Pacific		$	8,806		25.3	%	$	8,684		25.1	%	$	8,497		24.5	%	$	8,346		24.2	%	$	8,520		24.0	%
South Atlantic			7,454		21.4	%		7,342		21.2	%		7,426		21.4	%		7,485		21.7	%		7,637		21.5	%
Middle Atlantic			5,639		16.2	%		5,948		17.2	%		6,075		17.4	%		5,980		17.4	%		6,302		17.7	%
International			3,590		10.3	%		3,564		10.3	%		3,676		10.6	%		3,564		10.4	%		3,546		10.0	%
East North Central			2,545		7.3	%		2,487		7.2	%		2,513		7.2	%		2,460		7.1	%		2,966		8.4	%
West South Central			2,906		8.3	%		2,870		8.3	%		2,868		8.3	%		2,963		8.6	%		2,925		8.2	%
New England			1,451		4.2	%		1,414		4.1	%		1,394		4.0	%		1,400		4.1	%		1,400		3.9	%
Mountain			1,039		3.0	%		944		2.7	%		928		2.7	%		892		2.6	%		892		2.5	%
West North Central			667		2.0	%		641		1.9	%		632		1.8	%		629		1.9	%		627		1.8	%
East South Central			460		1.3	%		443		1.3	%		441		1.3	%		452		1.3	%		452		1.3	%
Other			253		0.7	%		250		0.7	%		277		0.8	%		250		0.7	%		250		0.7	%
Total		$	34,810		100.0	%	$	34,587		100.0	%	$	34,727		100.0	%	$	34,421		100.0	%	$	35,517		100.0	%
Office		$	14,988		43.1	%	$	14,986		43.3	%	$	15,046		43.3	%	$	15,020		43.6	%	$	15,728		44.2	%
Retail			8,081		23.2	%		7,870		22.8	%		8,032		23.1	%		7,900		23.0	%		8,154		23.0	%
Apartments			3,725		10.7	%		3,696		10.7	%		3,656		10.6	%		3,607		10.5	%		3,695		10.4	%
Hotel			2,967		8.5	%		2,947		8.5	%		2,946		8.5	%		3,037		8.8	%		3,006		8.5	%
Industrial			2,804		8.1	%		2,759		8.0	%		2,776		8.0	%		2,847		8.3	%		2,862		8.1	%
Other			2,245		6.4	%		2,329		6.7	%		2,271		6.5	%		2,010		5.8	%		2,072		5.8	%
Total		$	34,810		100.0	%	$	34,587		100.0	%	$	34,727		100.0	%	$	34,421		100.0	%	$	35,517		100.0	%

42

METLIFE, INC.

SUMMARY OF REAL ESTATE AND REAL ESTATE JOINT VENTURES

	September 30,		December 31,		March 31,		June 30,		September 30,
Unaudited (In millions)	2009		2009		2010		2010		2010
Wholly-owned	$	4,061	$	4,071	$	4,079	$	4,033	$	4,136
Joint ventures		2,846		2,698		2,651		2,657		2,711
Subtotal		6,907		6,769		6,730		6,690		6,847
Foreclosed		125		127		136		151		143
Total Real Estate and Real Estate Joint Ventures (1)	$	7,032	$	6,896	$	6,866	$	6,841	$	6,990

SUMMARY OF MORTGAGE LOANS

	September 30,		December 31,		March 31,		June 30,		September 30,
Unaudited (In millions)	2009		2009		2010		2010		2010
Commercial mortgage loans	$	34,810	$	34,587	$	34,727	$	34,421	$	35,517
Agricultural mortgage loans		12,059		12,140		12,093		12,284		12,522
Residential and consumer loans		1,370		1,454		1,548		1,789		1,966
Mortgage loans held-for-sale		2,442		2,728		2,003		2,650		2,840
Total (2)	$	50,681	$	50,909	$	50,371	$	51,144	$	52,845

(1)	Includes real estate held-for-sale and held-for-investment.
(2)	Effective January 1, 2010, balance excludes the effects of consolidating under GAAP certain VIEs that are treated as consolidated securitization entities. See page 39, note 3 for the amount excluded at March 31, 2010, June 30, 2010 and September 30, 2010.

43

© 2010 Peanuts Worldwide LLC