Important points
MetLife (MET) stock rose 5% on Thursday as the insurer announced a new strategic plan to “accelerate growth across its global platform while delivering attractive returns and all-weather performance.” rose.
Ahead of its investor day, the company announced its five-year business plan, which targets double-digit growth in adjusted earnings per share (EPS) and an adjusted return on equity of 15% to 17% (1%). It was reported that the company will introduce the “New Frontier” program. – Direct expense ratio reduced by a point, resulting in free cash flow of $25 billion.
CEO says plan designed based on previous ‘Next Horizon’ strategy
CEO Michel Khalaf said “New Frontier” builds on MetLife’s “Next Horizon” strategy of the past five years, which MetLife introduced in 2019 to “simplify and differentiate the company.” said it was designed. Mr. Khalaf said MetLife operates in a “very attractive market with a deep competitive moat and strong tailwinds,” offering opportunities to “deliver growth and attractive returns at lower risk.” He added that there is.
The insurer says the ‘New Frontier’ will focus on four key opportunity areas: expanding its leadership in group benefits, leveraging its proprietary retirement platform, accelerating growth in wealth management and expanding in high-growth international markets. He explained.
MetLife stock has added more than a quarter of its value this year.
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