MetLife (MET) 8-K Metlife Announces First Quarter 2007 Results

Exhibit 99.2

FIRST QUARTER FINANCIAL SUPPLEMENT MARCH 31, 2007 1

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 Statement of Operating Earnings Available to Common Shareholders	6
SUMMARY OF SEGMENT OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	8
INSTITUTIONAL OPERATIONS
Statements of Operating Earnings Available to Common Shareholders	9
Future Policy Benefits and Policyholder Account Balances and Separate Account Liabilities	13
Other Expenses by Major Category	14
Spreads by Product	15
INDIVIDUAL OPERATIONS
Statements of Operating Earnings Available to Common Shareholders	16
Premiums and Deposits by Product	21
Additional Statistical Information	22
Future Policy Benefits and Policyholder Account Balances and Separate Account Liabilities	23
Insurance Expenses and Other Expenses by Major Category	24
Spreads by Product	25
AUTO & HOME OPERATIONS
Statements of Operating Earnings Available to Common Shareholders	26
Written Premiums by Product and Selected Financial Information and Supplemental Data	29
INTERNATIONAL OPERATIONS
Statement of Operating Earnings Available to Common Shareholders	30
REINSURANCE OPERATIONS
Statement of Operating Earnings Available to Common Shareholders	31
Pre-Tax and Pre-Minority Interest Operating Earnings by Region and Reserves by Region	32
CORPORATE, OTHER & ELIMINATIONS
Statement of Operating Earnings Available to Common Shareholders	33
METLIFE, INC.
Investment Results by Asset Category and Annualized Yields	34
Fixed Maturity Securities and Equity Securities Gross Unrealized Gains and Losses Aging Schedules	36
Summary of Fixed Maturity Securities Available for Sale by Sector and Quality Distribution, and Summary of Commercial Mortgage Loans by Region and Property Type	37
Summary of Real Estate and Summary of Mortgages and Consumer Loans	38
OTHER INFORMATION
Company Ratings	39

NOTE:

The Quarterly Financial Supplement (“QFS”) includes financial measures, such as operating earnings, operating earnings available to common shareholders and operating earnings available to common shareholders per diluted common share, that are not based on generally accepted accounting principles (“GAAP”). Operating earnings is defined as GAAP net income, excluding net investment gains and losses, net of income tax, adjustments related to net investment gains and losses, net of income tax, and discontinued operations other than discontinued real estate, net of income tax. Scheduled periodic settlement payments on derivative instruments not qualifying for hedge accounting treatment are included in operating earnings. Operating earnings available to common shareholders is defined as operating earnings less preferred stock dividends, which are recorded in Corporate & Other. 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. MetLife believes these measures enhance the understanding and comparability of its performance by excluding net investment gains and losses, net of income tax, and adjustments related to net investment gains and losses, net of income tax, both of which can fluctuate significantly from period to period, and discontinued operations other than discontinued real estate, net of income tax, thereby highlighting the results from operations and the underlying profitability drivers of the business. Operating earnings, operating earnings available to common shareholders and operating earnings available to common shareholders per diluted common share should not be viewed as substitutes for GAAP net income, GAAP net income available to common shareholders and GAAP net income available to common shareholders per diluted common share, respectively. Reconciliations of operating earnings to GAAP net income, operating earnings available to common shareholders to GAAP net income available to common shareholders and operating earnings available to common shareholders per diluted common share to GAAP net income available to 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 May 1, 2007, for the quarter ended March 31, 2007, which are available at www.metlife.com.

1

CORPORATE OVERVIEW (1)

Unaudited (In millions, except per share data)

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
	2006			2006			2006			2006			2007
Net income		$747			$650			$1,033			$3,863			$1,017
Preferred stock dividends		33			33			34			34			34
Net income available to common shareholders		714			617			999			3,829			983
Net investment gains (losses)		(633	)		(830	)		256			4,324			(95	)
Minority interest — net investment gains (losses)		(2	)		4			0			(2	)		4
Net investment gains (losses) tax benefit (provision)		220			289			(92	)		(1,531	)		33
Net investment gains (losses), net of income tax (2) (3)		(415	)		(537	)		164			2,791			(58	)
Adjustments related to universal life and investment-type product policy fees		(3	)		(9	)		3			3			0
Adjustments related to policyholder benefits and dividends		108			84			(204	)		(98	)		(65	)
Adjustments related to other expenses		42			126			14			49			25
Adjustments related to tax benefit (provision)		(52	)		(72	)		66			17			14
Adjustments related to net investment gains (losses), net of income tax (4)		95			129			(121	)		(29	)		(26	)
Discontinued operations, net of income tax		8			41			(2	)		13			(15	)
Operating earnings available to common shareholders (5)		$1,026			$984			$958			$1,054			$1,082
Net income available to common shareholders per common share — diluted		$0.93			$0.80			$1.29			$4.95			$1.28
Net investment gains (losses), net of income tax		(0.54	)		(0.70	)		0.21			3.61			(0.08	)
Adjustments related to net investment gains (losses), net of income tax		0.13			0.17			(0.16	)		(0.04	)		(0.03	)
Discontinued operations, net of income tax		0.01			0.05			0.00			0.02			(0.02	)
Operating earnings available to common shareholders — diluted		$1.33			$1.28			$1.24			$1.36			$1.41
Weighted average common shares outstanding — diluted		768.8			769.9			773.7			773.1			769.1
Book value per common share (actual common shares outstanding)		$34.98			$33.77			$38.91			$42.23			$43.22
Book value per common share, excluding accumulated other comprehensive income (actual common shares outstanding)		$34.21			$35.08			$36.42			$40.74			$41.32
Book value per common share — diluted (weighted average common shares outstanding)		$34.50			$33.30			$38.22			$41.08			$41.64
Book value per common share, excluding accumulated other comprehensive income — diluted (weighted average common shares outstanding)		$33.73			$34.59			$35.78			$39.63			$39.82
	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
	2006			2006			2006			2006			2007
Common shares outstanding, beginning of period		757.5			758.2			759.2			760.0			752.0
Treasury stock		0.7			1.0			0.8			(8.0	)		(10.9	)
Common shares outstanding, end of period		758.2			759.2			760.0			752.0			741.1
Weighted average common shares outstanding — basic		762.0			763.1			762.4			759.6			752.7
Dilutive effect of stock-based awards		6.8			6.8			9.3			9.8			10.4
Dilutive effect of stock purchase contracts underlying common equity units		0.0			0.0			2.0			3.7			6.0
Weighted average common shares outstanding — diluted		768.8			769.9			773.7			773.1			769.1
Policyholder Trust Shares		294.0			285.3			281.9			276.9			272.7
SUPPLEMENTAL DATA
Adjusted long-term debt to total capital (6)		28.5	%		27.8	%		27.1	%		26.4	%		26.4	%

(1)	Certain prior period amounts have been reclassified to conform with current period presentation.
(2)	Net investment gains (losses), net of income tax, excludes scheduled periodic settlement payments on derivative instruments not qualifying for hedge accounting treatment of $25 million, $44 million, $61 million, $56 million and $38 million, for the three months ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively. For QFS purposes, these settlements are included in net investment income.
(3)	Net investment gains (losses), net of income tax, from real estate and real estate joint ventures includes discontinued operations of ($3) million, ($2) million, $63 million, $3,021 million and $3 million, for the three months ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31,2007, respectively.
(4)	Adjustments related to net investment gains (losses), net of income tax, includes amortization of unearned revenue and deferred policy acquisition costs, adjustments to the policyholder dividend obligation and amounts allocable to certain participating contracts.
(5)	Presentation of operating earnings available to common shareholders throughout the QFS differs from other public filings with respect to discontinued operations and scheduled periodic settlement payments on derivatives not qualifying for hedge accounting treatment. Presentation of discontinued operations in other public filings is in accordance with the Statement of Financial Accounting Standards (“SFAS”) No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. Presentation of scheduled periodic settlement payments on derivatives not qualifying for hedge accounting treatment in other public filings is in accordance with SFAS No.133, Accounting for Derivative Instruments and Hedging Activities (“SFAS 133”).
(6)	Adjusted long-term debt at March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, consists of $8,028 million, $8,112 million, $8,127 million, $7,694 million and $7,700 million, of long-term debt, respectively, $2,134 million, $2,134 million, $2,134 million, $3,381 million and $3,381 million of adjusted junior subordinated debt securities, respectively, and $1,084 million, $927 million, $905 million, $723 million and $731 million of adjusted short-term debt, respectively. Non-recourse debt not included in adjusted long-term debt consists of $1,505 million, $2,226 million, $2,185 million, $2,285 million and $2,638 million at such dates, respectively. Non-recourse debt not included in adjusted junior subordinated debt securities consists of $399 million, at each of such dates. Non-core borrowings not included in adjusted short-term debt consists of $276 million, $1,326 million, $801 million, $726 million and $2,644 million at such dates, respectively. Total capital is defined as adjusted long-term debt, shares subject to mandatory redemption and stockholders’ equity net of accumulated other comprehensive income.

2

METLIFE, INC.

CONSOLIDATED BALANCE SHEETS (1)

	March 31,			June 30,			September 30,			December 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007
ASSETS
Fixed maturity securities, at fair value		$239,220			$236,131			$241,656			$242,687			$248,693
Equity securities, at fair value		3,356			3,202			3,177			5,094			5,134
Mortgage and consumer loans		37,351			38,665			40,141			42,239			43,936
Policy loans		9,987			10,065			10,115			10,228			10,177
Real estate and real estate joint ventures		4,700			4,786			4,931			4,986			5,427
Other limited partnership interests		4,514			4,805			4,686			4,781			4,948
Short-term investments		3,368			4,067			5,839			2,709			2,483
Other invested assets		8,386			9,652			9,194			10,428			9,713
Total Investments		310,882			311,373			319,739			323,152			330,511
Cash and cash equivalents		5,144			4,126			5,924			7,107			6,545
Accrued investment income		3,145			3,275			3,380			3,347			3,300
Premiums and other receivables		12,731			13,216			14,494			14,490			15,581
Deferred policy acquisition costs and value of business acquired		20,234			20,802			20,552			20,838			20,371
Assets of subsidiaries held-for-sale		1,540			1,546			1,530			1,563			1,568
Current income tax recoverable		0			154			170			0			122
Goodwill		4,796			4,913			4,916			4,897			4,897
Other assets		8,108			8,118			8,207			7,956			7,602
Separate account assets		132,522			132,782			137,274			144,365			147,312
Total Assets		$499,102			$500,305			$516,186			$527,715			$537,809
LIABILITIES AND EQUITY
Liabilities
Future policy benefits		$122,748			$123,802			$125,614			$127,489			$128,369
Policyholder account balances		128,312			128,943			130,353			131,948			132,489
Other policyholder funds		8,620			8,721			9,100			9,139			9,467
Policyholder dividends payable		918			961			1,004			960			961
Policyholder dividend obligation		814			176			1,077			1,063			974
Short-term debt		1,360			2,253			1,706			1,449			3,375
Long-term debt		9,533			10,338			10,312			9,979			10,338
Junior subordinated debt securities		2,533			2,533			2,533			3,780			3,780
Shares subject to mandatory redemption		278			278			278			278			278
Liabilities of subsidiaries held-for-sale		1,548			1,575			1,545			1,595			1,598
Current income tax payable		88			0			0			1,465			0
Deferred income tax liability		1,199			485			2,319			2,278			1,992
Payables for collateral under securities loaned and other transactions		47,059			46,612			48,082			45,846			48,140
Other liabilities		13,003			13,165			13,379			12,283			14,667
Separate account liabilities		132,522			132,782			137,274			144,365			147,312
Total Liabilities		470,535			472,624			484,576			493,917			503,740
Equity
Preferred stock, at par value		1			1			1			1			1
Common stock, at par value		8			8			8			8			8
Additional paid-in capital		17,327			17,372			17,397			17,454			17,503
Retained earnings		11,579			12,195			13,195			16,574			17,228
Treasury stock		(938	)		(905	)		(878	)		(1,357	)		(2,073	)
Accumulated other comprehensive income		590			(990	)		1,887			1,118			1,402
Total Stockholders’ Equity		28,567			27,681			31,610			33,798			34,069
Total Liabilities and Stockholders’ Equity		$499,102			$500,305			$516,186			$527,715			$537,809

(1) Certain prior period amounts have been reclassified to conform with current period presentation.

3

METLIFE, INC.

CONSOLIDATED STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS (1)

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007
REVENUES
Premiums		$6,428			$6,428			$6,577			$6,979			$6,765
Universal life and investment-type product policy fees		1,178			1,194			1,185			1,229			1,280
Investment income, net		4,254			4,254			4,283			4,675			4,582
Other revenues		328			335			339			360			384
		12,188			12,211			12,384			13,243			13,011
EXPENSES
Policyholder benefits and dividends		6,934			6,840			6,930			7,318			7,132
Interest credited to policyholder account balances		1,202			1,251			1,331			1,381			1,372
Interest credited to bank deposits		43			48			51			52			51
Interest expenses		198			202			234			218			224
Other expenses		2,294			2,423			2,473			2,778			2,650
		10,671			10,764			11,019			11,747			11,429
Operating earnings before provision (benefit) for income tax		1,517			1,447			1,365			1,496			1,582
Provision for income tax		458			430			373			408			466
Operating earnings		1,059			1,017			992			1,088			1,116
Preferred stock dividends		33			33			34			34			34
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$1,026			$984			$958			$1,054			$1,082
Net Income Reconciliation
Operating earnings available to common shareholders		$1,026			$984			$958			$1,054			$1,082
Net investment gains (losses)		(633	)		(830	)		256			4,324			(95	)
Minority interest — net investment gains (losses)		(2	)		4			0			(2	)		4
Net investment gains (losses) tax benefit (provision)		220			289			(92	)		(1,531	)		33
Net investment gains (losses), net of income tax		(415	)		(537	)		164			2,791			(58	)
Adjustments related to universal life and investment-type product policy fees		(3	)		(9	)		3			3			0
Adjustments related to policyholder benefits and dividends		108			84			(204	)		(98	)		(65	)
Adjustments related to other expenses		42			126			14			49			25
Adjustments related to tax benefit (provision)		(52	)		(72	)		66			17			14
Adjustments related to net investment gains (losses), net of income tax (2)		95			129			(121	)		(29	)		(26	)
Discontinued operations, net of income tax		8			41			(2	)		13			(15	)
Net income available to common shareholders		714			617			999			3,829			983
Preferred stock dividends		33			33			34			34			34
Net income		$747			$650			$1,033			$3,863			$1,017

(1)	Certain prior period amounts have been reclassified to conform with current period presentation.
(2)	Adjustments related to net investment gains (losses), net of income tax, includes amortization of unearned revenue and deferred policy acquisition costs, adjustments to the policyholder dividend obligation and amounts allocable to certain participating contracts.

4

METLIFE, INC.

CONSOLIDATING BALANCE SHEET

MARCH 31, 2007

																	Corporate, Other
Unaudited (In millions)	Consolidated			Institutional			Individual		Auto & Home			International		Reinsurance			& Eliminations
ASSETS
Total investments		$330,511			$137,681			$124,962		$3,663			$13,964		$14,642			$35,599
Cash and cash equivalents		6,545			95			954		48			452		215			4,781
Accrued investment income		3,300			1,128			1,233		63			208		92			576
Premiums and other receivables		15,581			5,174			2,333		943			1,015		1,237			4,879
Deferred policy acquisition costs and value of business acquired		20,371			919			13,925		187			2,140		3,191			9
Assets of subsidiaries held-for-sale		1,568			0			0		0			1,568		0			0
Current income tax recoverable		122			6			185		(26	)		93		(5	)		(131	)
Goodwill		4,897			977			2,957		157			302		96			408
Other assets		7,602			1,480			3,092		392			335		102			2,201
Separate account assets		147,312			47,781			96,083		0			3,431		17			0
Total Assets		$537,809			$195,241			$245,724		$5,427			$23,508		$19,587			$48,322
LIABILITIES AND EQUITY
Liabilities
Future policy benefits		$128,369			$51,050			$55,961		$3,328			$8,375		$5,286			$4,369
Policyholder account balances		132,489			60,998			56,505		0			4,168		6,303			4,515
Other policyholder funds		9,467			2,963			2,949		52			1,246		2,057			200
Policyholder dividends payable		961			0			961		0			0		0			0
Policyholder dividend obligation		974			0			974		0			0		0			0
Short-term debt		3,375			0			0		0			0		0			3,375
Long-term debt		10,338			1			133		315			67		1,425			8,397
Junior subordinated debt securities		3,780			0			0		0			0		399			3,381
Shares subject to mandatory redemption		278			0			0		0			0		159			119
Liabilities of subsidiaries held-for-sale		1,598			0			0		0			1,598		0			0
Current income tax payable		0			0			0		0			0		0			0
Deferred income tax liability		1,992			(1,477	)		1,862		33			142		869			563
Payables for collateral under securities loaned and other transactions		48,140			20,834			17,378		153			0		0			9,775
Other liabilities		14,667			3,508			3,175		307			1,245		1,810			4,622
Separate account liabilities		147,312			47,781			96,083		0			3,431		17			0
Total Liabilities		503,740			185,658			235,981		4,188			20,272		18,325			39,316
Equity
Preferred stock, at par value		1			0			0		0			0		0			1
Common stock, at par value		8			0			0		0			0		0			8
Allocated equity (1)		34,731			9,144			9,644		1,084			2,794		1,024			11,041
Treasury stock		(2,073	)		0			0		0			0		0			(2,073	)
Accumulated other comprehensive income		1,402			439			99		155			442		238			29
Total Stockholders’ Equity		34,069			9,583			9,743		1,239			3,236		1,262			9,006
Total Liabilities and Stockholders’ Equity		$537,809			$195,241			$245,724		$5,427			$23,508		$19,587			$48,322

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

5

METLIFE, INC.

CONSOLIDATING STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS
FOR THE THREE MONTHS ENDED MARCH 31, 2007

																			Corporate, Other
Unaudited (In millions)	Consolidated			Institutional			Individual			Auto & Home			International			Reinsurance			& Eliminations
REVENUES
Premiums		$6,765			$3,125			$1,075			$716			$715			$1,126			$8
Universal life and investment-type product policy fees		1,280			191			853			0			236			0			0
Investment income, net		4,582			1,967			1,741			48			250			206			370
Other revenues		384			190			146			11			13			18			6
		13,011			5,473			3,815			775			1,214			1,350			384
EXPENSES
Policyholder benefits and dividends		7,132			3,463			1,747			431			578			902			11
Interest credited to policyholder account balances		1,372			722			507			0			78			65			0
Capitalization of deferred policy acquisition costs		(851	)		(63	)		(356	)		(111	)		(146	)		(175	)		0
Amortization of deferred policy acquisition costs		805			68			380			116			97			141			3
Other expenses		2,971			595			1,052			197			436			361			330
		11,429			4,785			3,330			633			1,043			1,294			344
Operating earnings before provision (benefit) for income tax		1,582			688			485			142			171			56			40
Provision (benefit) for income tax		466			236			166			36			47			20			(39	)
Operating earnings		1,116			452			319			106			124			36			79
Preferred stock dividends		34			0			0			0			0			0			34
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$1,082			$452			$319			$106			$124			$36			$45
Net Income Reconciliation
Operating earnings available to common shareholders		$1,082			$452			$319			$106			$124			$36			$45
Net investment gains (losses)		(95	)		(137	)		6			12			24			(6	)		6
Minority interest — net investment gains (losses)		4			0			0			0			0			4			0
Net investment gains (losses) tax benefit (provision)		33			49			(3	)		(5	)		(6	)		0			(2	)
Net investment gains (losses), net of income tax		(58	)		(88	)		3			7			18			(2	)		4
Adjustments related to universal life and investment-type product policy fees		0			0			0			0			0			0			0
Adjustments related to policyholder benefits and dividends		(65	)		(12	)		(38	)		0			(15	)		0			0
Adjustments related to other expenses		25			0			27			0			0			(2	)		0
Adjustments related to tax benefit (provision)		14			4			4			0			4			2			0
Adjustments related to net investment gains (losses), net of income tax (1)		(26	)		(8	)		(7	)		0			(11	)		0			0
Discontinued operations, net of income tax		(15	)		0			0			0			(31	)		0			16
Net income available to common shareholders		983			356			315			113			100			34			65
Preferred stock dividends		34			0			0			0			0			0			34
Net income		$1,017			$356			$315			$113			$100			$34			$99
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$8,429			$3,506			$2,074			$727			$964			$1,144			$14

(1) Adjustments related to net investment gains (losses), net of income tax, includes amortization of unearned revenue and deferred policy acquisition costs, adjustments to the policyholder dividend obligation and amounts allocable to certain participating contracts.

6

METLIFE, INC.

CONSOLIDATING STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS
FOR THE THREE MONTHS ENDED MARCH 31, 2006

																			Corporate, Other
Unaudited (In millions)	Consolidated  (1)			Institutional			Individual			Auto & Home			International  (1)			Reinsurance			& Eliminations
REVENUES
Premiums		$6,428			$2,989			$1,082			$724			$631			$993			$9
Universal life and investment-type product policy fees		1,178			201			793			0			184			0			0
Investment income, net		4,254			1,787			1,741			45			211			174			296
Other revenues		328			170			125			7			4			15			7
		12,188			5,147			3,741			776			1,030			1,182			312
EXPENSES
Policyholder benefits and dividends		6,934			3,389			1,745			453			527			813			7
Interest credited to policyholder account balances		1,202			594			476			0			69			63			0
Capitalization of deferred policy acquisition costs		(883	)		(81	)		(370	)		(105	)		(151	)		(176	)		0
Amortization of deferred policy acquisition costs		645			35			302			111			83			114			0
Other expenses		2,773			579			964			195			392			332			311
		10,671			4,516			3,117			654			920			1,146			318
Operating earnings before provision (benefit) for income tax		1,517			631			624			122			110			36			(6	)
Provision (benefit) for income tax		458			215			216			29			34			12			(48	)
Operating earnings		1,059			416			408			93			76			24			42
Preferred stock dividends		33			0			0			0			0			0			33
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$1,026			$416			$408			$93			$76			$24			$9
Net Income Reconciliation
Operating earnings available to common shareholders		$1,026			$416			$408			$93			$76			$24			$9
Net investment gains (losses)		(633	)		(339	)		(265	)		1			11			8			(49	)
Minority interest — net investment gains (losses)		(2	)		0			0			0			0			(2	)		0
Net investment gains (losses) tax benefit (provision)		220			120			95			(3	)		(6	)		(2	)		16
Net investment gains (losses), net of income tax		(415	)		(219	)		(170	)		(2	)		5			4			(33	)
Adjustments related to universal life and investment-type product policy fees		(3	)		0			(3	)		0			0			0			0
Adjustments related to policyholder benefits and dividends		108			25			61			0			22			0			0
Adjustments related to other expenses		42			0			45			0			0			(3	)		0
Adjustments related to tax benefit (provision)		(52	)		(9	)		(37	)		0			(7	)		1			0
Adjustments related to net investment gains (losses), net of income tax (2)		95			16			66			0			15			(2	)		0
Discontinued operations, net of income tax		8			0			0			0			8			0			0
Net income available to common shareholders		714			213			304			91			104			26			(24	)
Preferred stock dividends		33			0			0			0			0			0			33
Net income		$747			$213			$304			$91			$104			$26			$9
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$7,934			$3,360			$2,000			$731			$819			$1,008			$16

(1)	Certain prior period amounts have been reclassified to conform with current period presentation.
(2)	Adjustments related to net investment gains (losses), net of income tax, includes amortization of unearned revenue and deferred policy acquisition costs, adjustments to the policyholder dividend obligation and amounts allocable to certain participating contracts.

7

SUMMARY OF SEGMENT OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS (1)

	For the Three Months Ended
	March 31,		June 30,			September 30,			December 31,		March 31,
Unaudited (In millions)	2006		2006			2006			2006		2007
INSTITUTIONAL OPERATIONS		$416		$453			$390			$441		$452
INDIVIDUAL OPERATIONS		408		353			367			415		319
AUTO & HOME OPERATIONS		93		99			107			115		106
INTERNATIONAL OPERATIONS (2)		76		64			72			16		124
REINSURANCE OPERATIONS		24		29			29			33		36
CORPORATE, OTHER & ELIMINATIONS		9		(14	)		(7	)		34		45
CONSOLIDATED (2)		$1,026		$984			$958			$1,054		$1,082

(1)

A reconciliation of operating earnings available to common shareholders to net income for each segment appears in this QFS as follows: (i) Institutional Operations, page 9; (ii) Individual Operations, page 16; (iii) Auto & Home Operations, page 26; (iv) International Operations, page 30; (v) Reinsurance Operations, page 31; and (vi) Corporate, Other & Eliminations, page 33. A reconciliation of operating earnings available to common shareholders to net income for MetLife, Inc., Consolidated, appears on page 4.

(2)

Certain prior period amounts have been reclassified to conform with current period presentation.

8

INSTITUTIONAL OPERATIONS

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — TOTAL
Unaudited (In millions)

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Institutional Operations	2006			2006			2006			2006			2007			2006			2007
REVENUES
Premiums		$2,989			$2,836			$2,992			$3,050			$3,125			$2,989			$3,125
Universal life and investment-type product policy fees		201			201			201			172			191			201			191
Investment income, net		1,787			1,824			1,865			2,020			1,967			1,787			1,967
Other revenues		170			169			171			175			190			170			190
		5,147			5,030			5,229			5,417			5,473			5,147			5,473
EXPENSES
Policyholder benefits and dividends		3,389			3,169			3,368			3,421			3,463			3,389			3,463
Interest credited to policyholder account balances		594			617			682			694			722			594			722
Other expenses		533			559			588			634			600			533			600
		4,516			4,345			4,638			4,749			4,785			4,516			4,785
Operating earnings before provision (benefit) for income tax		631			685			591			668			688			631			688
Provision (benefit) for income tax		215			232			201			227			236			215			236
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$416			$453			$390			$441			$452			$416			$452
Net Income Reconciliation
Operating earnings available to common shareholders		$416			$453			$390			$441			$452			$416			$452
Net investment gains (losses)		(339	)		(440	)		230			(253	)		(137	)		(339	)		(137	)
Minority interest — net investment gains (losses)		0			0			0			0			0			0			0
Net investment gains (losses) tax benefit (provision)		120			157			(80	)		85			49			120			49
Net investment gains (losses), net of income tax		(219	)		(283	)		150			(168	)		(88	)		(219	)		(88	)
Adjustments related to universal life and investment-type product policy fees		0			0			0			0			0			0			0
Adjustments related to policyholder benefits and dividends		25			61			(85	)		(21	)		(12	)		25			(12	)
Adjustments related to other expenses		0			0			0			0			0			0			0
Adjustments related to tax benefit (provision)		(9	)		(22	)		31			7			4			(9	)		4
Adjustments related to net investment gains (losses), net of income tax (1)		16			39			(54	)		(14	)		(8	)		16			(8	)
Discontinued operations, net of income tax		0			0			0			0			0			0			0
Net income available to common shareholders		213			209			486			259			356			213			356
Preferred stock dividends		0			0			0			0			0			0			0
Net income		$213			$209			$486			$259			$356			$213			$356
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$3,360			$3,206			$3,364			$3,397			$3,506			$3,360			$3,506
Actual Number of Sales Representatives		739			693			677			642			646

(1) Adjustments related to net investment gains (losses), net of income tax, includes amortization of deferred policy acquisition costs and amounts allocable to certain participating contracts.

9

INSTITUTIONAL OPERATIONS

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL
Unaudited (In millions)

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Group Life	2006			2006			2006			2006			2007			2006			2007
REVENUES
Premiums		$1,551			$1,474			$1,434			$1,478			$1,576			$1,551			$1,576
Universal life and investment-type product policy fees		195			197			196			171			189			195			189
Investment income, net		303			309			321			334			327			303			327
Other revenues		15			13			14			16			24			15			24
		2,064			1,993			1,965			1,999			2,116			2,064			2,116
EXPENSES
Policyholder benefits and dividends		1,636			1,484			1,505			1,515			1,626			1,636			1,626
Interest credited to policyholder account balances		134			143			148			153			152			134			152
Other expenses		155			157			159			187			175			155			175
		1,925			1,784			1,812			1,855			1,953			1,925			1,953
Operating earnings before provision (benefit) for income tax		139			209			153			144			163			139			163
Provision (benefit) for income tax		48			70			52			49			56			48			56
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$91			$139			$101			$95			$107			$91			$107
Net investment gains (losses), net of income tax		(2	)		(47	)		(10	)		(26	)		(4	)		(2	)		(4	)
Adjustments related to net investment gains (losses), net of income tax		1			3			0			0			0			1			0
Discontinued operations, net of income tax		0			0			0			0			0			0			0
Net income available to common shareholders		90			95			91			69			103			90			103
Preferred stock dividends		0			0			0			0			0			0			0
Net income		$90			$95			$91			$69			$103			$90			$103
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$1,761			$1,684			$1,644			$1,665			$1,789			$1,761			$1,789
Incurred Loss Ratio (Mortality Experience):
Term Life		94.2	%		88.1	%		91.6	%		92.1	%		91.8	%

10

INSTITUTIONAL OPERATIONS

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL
Unaudited (In millions)

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Retirement & Savings	2006			2006			2006			2006			2007			2006			2007
REVENUES
Premiums		$334			$254			$436			$436			$310			$334			$310
Universal life and investment-type product policy fees		6			4			5			1			2			6			2
Investment income, net		1,325			1,361			1,386			1,505			1,468			1,325			1,468
Other revenues		62			64			62			67			71			62			71
		1,727			1,683			1,889			2,009			1,851			1,727			1,851
EXPENSES
Policyholder benefits and dividends		774			755			940			942			787			774			787
Interest credited to policyholder account balances		460			474			534			541			570			460			570
Other expenses		98			119			111			114			89			98			89
		1,332			1,348			1,585			1,597			1,446			1,332			1,446
Operating earnings before provision (benefit) for income tax		395			335			304			412			405			395			405
Provision (benefit) for income tax		134			114			103			140			139			134			139
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$261			$221			$201			$272			$266			$261			$266
Net investment gains (losses), net of income tax		(168	)		(187	)		105			(140	)		(81	)		(168	)		(81	)
Adjustments related to net investment gains (losses), net of income tax		(7	)		10			(16	)		(8	)		(4	)		(7	)		(4	)
Discontinued operations, net of income tax		0			0			0			0			0			0			0
Net income available to common shareholders		86			44			290			124			181			86			181
Preferred stock dividends		0			0			0			0			0			0			0
Net income		$86			$44			$290			$124			$181			$86			$181
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$402			$322			$503			$504			$383			$402			$383

11

INSTITUTIONAL OPERATIONS

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL
Unaudited (In millions)

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Non-Medical Health & Other	2006			2006			2006			2006			2007			2006			2007
REVENUES
Premiums		$1,104			$1,108			$1,122			$1,136			$1,239			$1,104			$1,239
Universal life and investment-type product policy fees		0			0			0			0			0			0			0
Investment income, net		159			154			158			181			172			159			172
Other revenues		93			92			95			92			95			93			95
		1,356			1,354			1,375			1,409			1,506			1,356			1,506
EXPENSES
Policyholder benefits and dividends		979			930			923			964			1,050			979			1,050
Interest credited to policyholder account balances		0			0			0			0			0			0			0
Other expenses		280			283			318			333			336			280			336
		1,259			1,213			1,241			1,297			1,386			1,259			1,386
Operating earnings before provision (benefit) for income tax		97			141			134			112			120			97			120
Provision (benefit) for income tax		33			48			46			38			41			33			41
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$64			$93			$88			$74			$79			$64			$79
Net investment gains (losses), net of income tax		(49	)		(49	)		55			(2	)		(3	)		(49	)		(3	)
Adjustments related to net investment gains (losses), net of income tax		22			26			(38	)		(6	)		(4	)		22			(4	)
Discontinued operations, net of income tax		0			0			0			0			0			0			0
Net income available to common shareholders		37			70			105			66			72			37			72
Preferred stock dividends		0			0			0			0			0			0			0
Net income		$37			$70			$105			$66			$72			$37			$72
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$1,197			$1,200			$1,217			$1,228			$1,334			$1,197			$1,334
Group Disability Premiums, Fees and Other Revenues (Included in Total)		$347			$342			$352			$357			$405			$347			$405
Incurred Loss Ratio (Morbidity Experience):
Group Disability		90.7	%		90.2	%		83.0	%		95.2	%		87.0	%

12

INSTITUTIONAL OPERATIONS
FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES AND SEPARATE ACCOUNT LIABILITIES
Unaudited (In millions)

FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Group Life	2006			2006			2006			2006			2007
Balance, beginning of period		$16,400			$16,951			$16,686			$16,594			$16,818
Premiums and deposits		3,372			2,824			2,787			2,854			3,075
Interest on reserves		176			187			193			197			195
Surrenders and withdrawals		(1,196	)		(1,581	)		(1,392	)		(1,111	)		(1,167	)
Benefits and reserves		(1,623	)		(1,489	)		(1,514	)		(1,521	)		(1,627	)
Other		(178	)		(206	)		(166	)		(195	)		(162	)
Balance, end of period		$16,951			$16,686			$16,594			$16,818			$17,132

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Retirement & Savings	2006			2006			2006			2006			2007
Balance, beginning of period		$78,405			$78,252			$79,406			$81,440			$84,035
Premiums and deposits		3,819			3,028			3,389			3,387			3,245
Interest on reserves		986			1,022			1,054			1,086			1,088
Surrenders and withdrawals		(2,851	)		(2,301	)		(2,031	)		(2,143	)		(2,463	)
Benefits and reserves		(679	)		(673	)		(663	)		(676	)		(728	)
Other		(1,428	)		78			285			941			(59	)
Balance, end of period		$78,252			$79,406			$81,440			$84,035			$85,118

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Non-Medical Health & Other	2006			2006			2006			2006			2007
Balance, beginning of period		$8,556			$8,849			$9,014			$9,277			$9,541
Premiums and deposits		1,066			1,059			1,075			1,084			1,186
Interest on reserves		78			81			84			86			86
Surrenders and withdrawals		20			28			21			22			27
Benefits and reserves		(991	)		(950	)		(931	)		(980	)		(1,048	)
Other		120			(53	)		14			52			6
Balance, end of period		$8,849			$9,014			$9,277			$9,541			$9,798

SEPARATE ACCOUNT LIABILITIES

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Group Life	2006			2006			2006			2006			2007
Balance, beginning of period		$10,539			$10,949			$11,294			$12,608			$13,081
Premiums and deposits		189			603			552			627			294
Investment performance		329			(161	)		328			146			(100	)
Surrenders and withdrawals		(101	)		(86	)		(139	)		(110	)		(126	)
Policy charges		(7	)		(7	)		(7	)		(8	)		(8	)
Other		0			(4	)		580			(182	)		2
Balance, end of period		$10,949			$11,294			$12,608			$13,081			$13,143

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Retirement & Savings	2006			2006			2006			2006			2007
Balance, beginning of period		$34,374			$33,653			$33,657			$33,121			$33,521
Premiums and deposits		1,345			1,127			1,256			952			944
Investment performance		550			279			1,218			809			1,414
Surrenders and withdrawals		(2,592	)		(1,377	)		(2,978	)		(1,342	)		(1,704	)
Policy charges		(25	)		(26	)		(25	)		(21	)		(22	)
Other		1			1			(7	)		2			2
Balance, end of period		$33,653			$33,657			$33,121			$33,521			$34,155

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Non-Medical Health & Other	2006			2006			2006			2006			2007
Balance, beginning of period		$326			$360			$377			$422			$445
Premiums and deposits		90			91			84			85			88
Investment performance		90			(48	)		33			(15	)		(6	)
Surrenders and withdrawals		(20	)		(28	)		(21	)		(22	)		(27	)
Policy charges		(14	)		(20	)		(25	)		(25	)		(17	)
Other		(112	)		22			(26	)		0			0
Balance, end of period		$360			$377			$422			$445			$483

13

INSTITUTIONAL OPERATIONS
OTHER EXPENSES BY MAJOR CATEGORY

	For the Three Months Ended
	March 31,		June 30,		September 30,		December 31,		March 31,
Unaudited (In millions)	2006		2006		2006		2006		2007
OTHER EXPENSES BY MAJOR CATEGORY
Direct and allocated expenses		$361		$413		$397		$464		$455
Pension and other post-retirement benefit costs		21		20		21		21		1
Premium tax and other tax, licenses and fees		50		38		50		52		48
Sub-total Insurance Expenses		432		471		468		537		504
Commissions and other expenses		101		88		120		97		96
Total Other Expenses		$533		$559		$588		$634		$600

14

INSTITUTIONAL OPERATIONS
SPREADS BY PRODUCT
Unaudited

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Group Life	2006			2006			2006			2006			2007
ANNUALIZED GENERAL ACCOUNT SPREADS BY SEGMENT (%)
Investment income yield		6.07	%		6.11	%		6.52	%		6.84	%		6.36	%
Average crediting rate		4.40	%		4.56	%		4.73	%		4.75	%		4.74	%
Spread		1.67	%		1.55	%		1.79	%		2.09	%		1.62	%

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Retirement & Savings	2006			2006			2006			2006			2007
ANNUALIZED GENERAL ACCOUNT SPREADS BY SEGMENT (%)
Investment income yield		6.74	%		6.83	%		6.79	%		7.28	%		6.90	%
Average crediting rate		5.31	%		5.33	%		5.54	%		5.52	%		5.54	%
Spread		1.43	%		1.50	%		1.25	%		1.76	%		1.36	%

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Non-Medical Health & Other	2006			2006			2006			2006			2007
ANNUALIZED GENERAL ACCOUNT SPREADS BY SEGMENT (%)
Investment income yield		7.71	%		7.22	%		7.09	%		8.43	%		7.84	%
Average crediting rate		4.99	%		5.00	%		5.01	%		4.98	%		4.90	%
Spread		2.72	%		2.22	%		2.08	%		3.45	%		2.94	%

15

INDIVIDUAL OPERATIONS

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — TOTAL
Unaudited (In millions)

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Individual Operations	2006			2006			2006			2006			2007			2006			2007
REVENUES
Premiums		$1,082			$1,102			$1,095			$1,237			$1,075			$1,082			$1,075
Universal life and investment-type product policy fees		793			799			779			836			853			793			853
Investment income, net		1,741			1,709			1,717			1,801			1,741			1,741			1,741
Other revenues		125			135			126			141			146			125			146
		3,741			3,745			3,717			4,015			3,815			3,741			3,815
EXPENSES
Policyholder benefits and dividends		1,745			1,755			1,692			1,881			1,747			1,745			1,747
Interest credited to policyholder account balances		476			518			528			513			507			476			507
Capitalization of deferred policy acquisition costs		(370	)		(415	)		(340	)		(372	)		(356	)		(370	)		(356	)
Amortization of deferred policy acquisition costs		302			289			287			263			380			302			380
Other expenses		964			1,060			987			1,097			1,052			964			1,052
		3,117			3,207			3,154			3,382			3,330			3,117			3,330
Operating earnings before provision (benefit) for income tax		624			538			563			633			485			624			485
Provision (benefit) for income tax		216			185			196			218			166			216			166
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$408			$353			$367			$415			$319			$408			$319
Net Income Reconciliation
Operating earnings available to common shareholders		$408			$353			$367			$415			$319			$408			$319
Net investment gains (losses)		(265	)		(307	)		79			(134	)		6			(265	)		6
Minority interest — net investment gains (losses)		0			0			0			0			0			0			0
Net investment gains (losses) tax benefit (provision)		95			108			(26	)		46			(3	)		95			(3	)
Net investment gains (losses), net of income tax		(170	)		(199	)		53			(88	)		3			(170	)		3
Adjustments related to universal life and investment-type product policy fees		(3	)		(9	)		3			3			0			(3	)		0
Adjustments related to policyholder benefits and dividends		61			(26	)		(46	)		(22	)		(38	)		61			(38	)
Adjustments related to other expenses		45			118			15			55			27			45			27
Adjustments related to tax benefit (provision)		(37	)		(29	)		9			(12	)		4			(37	)		4
Adjustments related to net investment gains (losses), net of income tax (1)		66			54			(19	)		24			(7	)		66			(7	)
Discontinued operations, net of income tax		0			0			0			0			0			0			0
Net income available to common shareholders		304			208			401			351			315			304			315
Preferred stock dividends		0			0			0			0			0			0			0
Net income		$304			$208			$401			$351			$315			$304			$315
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$2,000			$2,036			$2,000			$2,214			$2,074			$2,000			$2,074

(1) Adjustments related to net investment gains (losses), net of income tax, includes amortization of unearned revenue and deferred policy acquisition costs, adjustments to the policyholder dividend obligation and amounts allocable to certain participating contracts.

16

INDIVIDUAL OPERATIONS
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL
Unaudited (In millions)

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Traditional Life	2006			2006			2006			2006			2007			2006			2007
REVENUES
Premiums		$976			$1,011			$1,009			$1,142			$990			$976			$990
Universal life and investment-type product policy fees		0			0			0			0			0			0			0
Investment income, net		821			804			816			845			812			821			812
Other revenues		0			(1	)		1			5			(1	)		0			(1	)
		1,797			1,814			1,826			1,992			1,801			1,797			1,801
EXPENSES
Policyholder benefits and dividends		1,444			1,463			1,467			1,610			1,456			1,444			1,456
Interest credited to policyholder account balances		0			0			0			0			0			0			0
Capitalization of deferred policy acquisition costs		(56	)		(52	)		(65	)		(59	)		(58	)		(56	)		(58	)
Amortization of deferred policy acquisition costs		53			45			44			(1	)		76			53			76
Other expenses		207			213			271			261			234			207			234
		1,648			1,669			1,717			1,811			1,708			1,648			1,708
Operating earnings before provision (benefit) for income tax		149			145			109			181			93			149			93
Provision (benefit) for income tax		51			48			36			61			31			51			31
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$98			$97			$73			$120			$62			$98			$62
Net investment gains (losses), net of income tax		(44	)		(48	)		(14	)		3			6			(44	)		6
Adjustments related to net investment gains (losses), net of income tax		40			19			(4	)		1			(12	)		40			(12	)
Discontinued operations, net of income tax		0			0			0			0			0			0			0
Net income available to common shareholders		94			68			55			124			56			94			56
Preferred stock dividends		0			0			0			0			0			0			0
Net income		$94			$68			$55			$124			$56			$94			$56
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$976			$1,010			$1,010			$1,147			$989			$976			$989

17

INDIVIDUAL OPERATIONS
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL
Unaudited (In millions)

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Variable & Universal Life	2006			2006			2006			2006			2007			2006			2007
REVENUES
Premiums		$0			$0			$0			$0			$0			$0			$0
Universal life and investment-type product policy fees		395			384			370			408			394			395			394
Investment income, net		203			197			199			211			209			203			209
Other revenues		(3	)		0			1			0			1			(3	)		1
		595			581			570			619			604			595			604
EXPENSES
Policyholder benefits and dividends		123			162			82			112			132			123			132
Interest credited to policyholder account balances		142			144			151			149			150			142			150
Capitalization of deferred policy acquisition costs		(102	)		(110	)		(89	)		(103	)		(93	)		(102	)		(93	)
Amortization of deferred policy acquisition costs		110			104			97			132			118			110			118
Other expenses		208			214			184			231			216			208			216
		481			514			425			521			523			481			523
Operating earnings before provision (benefit) for income tax		114			67			145			98			81			114			81
Provision (benefit) for income tax		40			24			51			35			28			40			28
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$74			$43			$94			$63			$53			$74			$53
Net investment gains (losses), net of income tax		(25	)		(36	)		14			3			(7	)		(25	)		(7	)
Adjustments related to net investment gains (losses), net of income tax		9			6			(3	)		3			2			9			2
Discontinued operations, net of income tax		0			0			0			0			0			0			0
Net income available to common shareholders		58			13			105			69			48			58			48
Preferred stock dividends		0			0			0			0			0			0			0
Net income		$58			$13			$105			$69			$48			$58			$48
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$392			$384			$371			$408			$395			$392			$395

18

INDIVIDUAL OPERATIONS
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL
Unaudited (In millions)

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Annuities	2006			2006			2006			2006			2007			2006			2007
REVENUES
Premiums		$98			$85			$78			$105			$85			$98			$85
Universal life and investment-type product policy fees		356			367			365			387			409			356			409
Investment income, net		677			667			658			697			677			677			677
Other revenues		29			36			31			40			42			29			42
		1,160			1,155			1,132			1,229			1,213			1,160			1,213
EXPENSES
Policyholder benefits and dividends		173			125			138			167			159			173			159
Interest credited to policyholder account balances		314			351			352			339			333			314			333
Capitalization of deferred policy acquisition costs		(212	)		(253	)		(186	)		(210	)		(205	)		(212	)		(205	)
Amortization of deferred policy acquisition costs		139			140			146			132			186			139			186
Other expenses		400			477			387			450			420			400			420
		814			840			837			878			893			814			893
Operating earnings before provision (benefit) for income tax		346			315			295			351			320			346			320
Provision (benefit) for income tax		120			109			103			121			110			120			110
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$226			$206			$192			$230			$210			$226			$210
Net investment gains (losses), net of income tax		(102	)		(105	)		56			(86	)		8			(102	)		8
Adjustments related to net investment gains (losses), net of income tax		17			29			(12	)		20			3			17			3
Discontinued operations, net of income tax		0			0			0			0			0			0			0
Net income available to common shareholders		141			130			236			164			221			141			221
Preferred stock dividends		0			0			0			0			0			0			0
Net income		$141			$130			$236			$164			$221			$141			$221
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$483			$488			$474			$532			$536			$483			$536

19

INDIVIDUAL OPERATIONS
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL
Unaudited (In millions)

															��
	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,		June 30,			September 30,			December 31,			March 31,				March 31,		March 31,
Other	2006		2006			2006			2006			2007				2006		2007
REVENUES
Premiums		$8		$6			$8			($10	)		$0				$8		$0
Universal life and investment-type product policy fees		42		48			44			41			50				42		50
Investment income, net		40		41			44			48			43				40		43
Other revenues		99		100			93			96			104				99		104
		189		195			189			175			197				189		197
EXPENSES
Policyholder benefits and dividends		5		5			5			(8	)		0				5		0
Interest credited to policyholder account balances		20		23			25			25			24				20		24
Capitalization of deferred policy acquisition costs		0		0			0			0			0				0		0
Amortization of deferred policy acquisition costs		0		0			0			0			0				0		0
Other expenses		149		156			145			155			182				149		182
		174		184			175			172			206				174		206
Operating earnings before provision (benefit) for income tax		15		11			14			3			(9	)			15		(9	)
Provision (benefit) for income tax		5		4			6			1			(3	)			5		(3	)
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$10		$7			$8			$2			($6	)			$10		($6	)
Net investment gains (losses), net of income tax		1		(10	)		(3	)		(8	)		(4	)			1		(4	)
Adjustments related to net investment gains (losses), net of income tax		0		0			0			0			0				0		0
Discontinued operations, net of income tax		0		0			0			0			0				0		0
Net income available to common shareholders		11		(3	)		5			(6	)		(10	)			11		(10	)
Preferred stock dividends		0		0			0			0			0				0		0
Net income		$11		($3	)		$5			($6	)		($10	)			$11		($10	)
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$149		$154			$145			$127			$154				$149		$154

20

INDIVIDUAL OPERATIONS
PREMIUMS AND DEPOSITS BY PRODUCT

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007
PREMIUMS AND DEPOSITS BY PRODUCT (1) (2)
Life First Year And Renewal, Annuity Type
Life First Year Premiums and Deposits (3)
Traditional Life		$50			$50			$46			$57			$52
Variable Life 1st Year excluding Single Premium COLI/BOLI		50			55			48			55			48
Universal Life 1st Year excluding Single Premium COLI/BOLI		203			177			147			135			130
Single Premium COLI/BOLI		6			6			3			1			0
Total Life First Year Premiums & Deposits		309			288			244			248			230
Life Renewal Premiums and Deposits
Traditional Life		959			1,049			1,036			1,209			987
Variable & Universal Life		600			515			579			562			621
Total Life Renewal Premiums and Deposits		1,559			1,564			1,615			1,771			1,608
Annuities Deposits (4)
Fixed Annuity Deposits		520			430			594			514			352
Variable Annuity Deposits		3,327			3,818			3,013			3,267			3,330
Total Annuity Deposits		3,847			4,248			3,607			3,781			3,682
Total Premiums and Deposits		$5,715			$6,100			$5,466			$5,800			$5,520
Separate Account And General Account
Separate Accounts
Variable & Universal Life		$262			$255			$267			$285			$289
Variable Annuities		2,507			2,884			2,118			2,406			2,471
Total Separate Accounts		2,769			3,139			2,385			2,691			2,760
General Accounts
Traditional Life		1,009			1,099			1,082			1,266			1,039
Variable & Universal Life		597			498			510			468			510
Fixed Annuities		520			430			594			514			352
Variable Annuities		820			934			895			861			859
Total General Account		2,946			2,961			3,081			3,109			2,760
Total Premiums and Deposits		$5,715			$6,100			$5,466			$5,800			$5,520
Percentage of Premiums and Deposits to Separate Accounts, Excluding Transfers from General Account:
Variable & Universal Life		29.0	%		31.2	%		29.9	%		31.6	%		29.4	%
Annuities		65.2	%		67.9	%		58.7	%		63.6	%		67.1	%

(1)	Statutory premiums direct and assumed, excluding Company sponsored internal exchanges.
(2)	Certain prior period amounts have been reclassified to conform with current period presentation.
(3)	Of the $230 million of First Year Life Premiums and Deposits received during the three months ended March 31, 2007, approximately 53% were distributed through MetLife agents, 20% through New England Financial agents, 24% through MetLife’s Independent Distribution channel and 3% through other distribution channels.
(4)	Of the $3,682 million of Annuity Deposits received during the three months ended March 31, 2007, approximately 24% were distributed through MetLife agents, 7% through New England Financial agents, 55% through MetLife’s Independent Distribution channel and 14% through MetLife Resources representatives.

21

INDIVIDUAL OPERATIONS
ADDITIONAL STATISTICAL INFORMATION

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Unaudited	2006			2006			2006			2006			2007
Mortality as a Percentage of Expected		94.0	%		85.1	%		82.4	%		78.7	%		87.6	%
Lapse / Surrender (General and Separate Account) (1) (2)
Traditional Life		6.0	%		5.9	%		5.7	%		5.7	%		5.6	%
Variable & Universal Life		6.3	%		6.0	%		5.8	%		5.5	%		5.4	%
Variable Annuities		9.5	%		10.0	%		10.3	%		10.6	%		10.5	%
Fixed Annuities		8.8	%		9.7	%		10.4	%		11.5	%		12.7	%
Actual Number of Sales Representatives
MetLife Distribution		5,954			6,002			5,996			5,968			6,143
New England Financial		2,068			2,071			2,025			2,035			2,078
Independent Distribution Wholesalers		220			217			215			212			201
MetLife Resources		751			739			738			737			715
Walnut Street and Tower Square Securities		1,632			1,564			1,520			1,442			1,423
P&C Specialists		658			657			633			648			621
Total Agents		11,283			11,250			11,127			11,042			11,181

(1)	Lapse/Surrender rates are calculated for the most recent 12 months of experience, excluding Company sponsored internal exchanges.
(2)	Certain prior period amounts have been reclassified to conform with current period presentation.

22

INDIVIDUAL OPERATIONS
FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES AND SEPARATE ACCOUNT LIABILITIES
Unaudited (In millions)

FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Traditional Life	2006			2006			2006			2006			2007
Balance, beginning of period		$50,944			$50,977			$51,177			$51,406			$51,739
Premiums and deposits (1)		1,061			1,093			1,091			1,241			1,071
Interest on reserves		511			520			523			527			524
Surrenders and withdrawals		(504	)		(433	)		(432	)		(432	)		(483	)
Benefit payments		(572	)		(498	)		(488	)		(496	)		(504	)
Other		(463	)		(482	)		(465	)		(507	)		(498	)
Balance, end of period		$50,977			$51,177			$51,406			$51,739			$51,849

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Variable & Universal Life (2)	2006			2006			2006			2006			2007
Balance, beginning of period		$14,852			$15,042			$15,268			$15,334			$15,436
Premiums and deposits (1) (3)		581			498			496			477			531
Interest on reserves		143			146			151			150			151
Surrenders and withdrawals		(119	)		(115	)		(175	)		(123	)		(122	)
Net transfers from (to) separate account		8			27			20			12			25
Policy charges		(369	)		(365	)		(388	)		(385	)		(385	)
Benefit payments		(46	)		(40	)		(35	)		(33	)		(38	)
Other		(8	)		75			(3	)		4			(8	)
Balance, end of period		$15,042			$15,268			$15,334			$15,436			$15,590

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Annuities(2)	2006			2006			2006			2006			2007
Balance, beginning of period		$45,732			$45,293			$44,775			$44,518			$43,388
Premiums and deposits (1) (3)		1,402			1,475			1,551			1.437			1,292
Interest on reserves		395			448			418			400			402
Surrenders and withdrawals		(1,235	)		(1,571	)		(1,417	)		(1,617	)		(1,469	)
Net transfers from (to) separate account		(621	)		(521	)		(495	)		(635	)		(626	)
Policy charges		(2	)		(2	)		(1	)		0			0
Benefit payments		(326	)		(349	)		(326	)		(346	)		(380	)
Other		(52	)		2			13			(369	)		(20	)
Balance, end of period		$45,293			$44,775			$44,518			$43,388			$42,587

SEPARATE ACCOUNT LIABILITIES

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Variable & Universal Life (2)	2006			2006			2006			2006			2007
Balance, beginning of period		$9,307			$9,769			$9,593			$9,796			10,278
Premiums and deposits (1)		302			288			296			309			289
Investment performance		501			(138	)		219			501			193
Surrenders and withdrawals		(151	)		(145	)		(141	)		(155	)		(195	)
Net transfers from (to) fixed account		(8	)		(27	)		(20	)		(12	)		(25	)
Policy charges		(154	)		(155	)		(154	)		(157	)		(160	)
Other		(28	)		1			3			(4	)		3
Balance, end of period		$9,769			$9,593			$9,796			$10,278			10,383

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Annuities	2006			2006			2006			2006			2007
Balance, beginning of period		$71,764			$75,861			$75,587			$78,570			$83,847
Premiums and deposits (1)		2,532			2,928			2,213			2,531			2,640
Investment performance		3,255			(1,483	)		2,584			4,771			1,295
Surrenders and withdrawals		(2,026	)		(1,947	)		(2,008	)		(2,341	)		(2,384	)
Net transfers from (to) fixed account		621			521			495			635			626
Policy charges		(280	)		(292	)		(301	)		(326	)		(325	)
Other		(5	)		(1	)		0			7			1
Balance, end of period		$75,861			$75,587			$78,570			$83,847			$85,700

(1)	Includes Company-sponsored internal exchanges and supplemental contract premiums.
(2)	Certain prior period amounts have been reclassified to conform with current period presentation.
(3)	Includes premiums and deposits directed to General Account investment option of a variable life or variable annuity product.

23

INDIVIDUAL OPERATIONS
INSURANCE EXPENSES AND OTHER
EXPENSES BY MAJOR CATEGORY

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007
INSURANCE EXPENSES (NET OF CAPITALIZATION OF DAC)
Insurance Expenses		$830			$914			$855			$950			$876
DAC Capitalization (1)		(384	)		(429	)		(353	)		(385	)		(369	)
Net		$446			$485			$502			$565			$507
OTHER EXPENSES BY MAJOR CATEGORY
Commissions		$315			$350			$282			$305			$308
Other deferrable expenses		120			146			132			146			135
Direct and allocated expenses, not deferred		334			386			371			427			391
Pension and other post-retirement benefit costs		34			3			35			41			10
Premium tax and other tax, licenses and fees		27			29			35			31			32
Subtotal Insurance Expenses		830			914			855			950			876
Broker-dealer and other expenses		155			159			147			159			185
Reinsurance allowances		(21	)		(13	)		(15	)		(12	)		(9	)
Total Other Expenses		$964			$1,060			$987			$1,097			$1,052

(1) Excludes $14 million, $14 million, $13 million, $13 million and $13 million of DAC capitalization related to reinsurance allowances for the three months ended March 31, 2006, June 30, 2006, September 30, 2006, December 31,2006 and March 31, 2007, respectively.

24

INDIVIDUAL OPERATIONS

SPREADS BY PRODUCT
Unaudited

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Variable & Universal Life	2006			2006			2006			2006			2007
ANNUALIZED GENERAL ACCOUNT SPREADS BY PRODUCT (%)
Investment income yield		6.69	%		6.41	%		6.35	%		6.43	%		6.34	%
Average crediting rate		4.56	%		4.54	%		4.53	%		4.54	%		4.56	%
Spread		2.13	%		1.87	%		1.82	%		1.89	%		1.78	%

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Annuities	2006			2006			2006			2006			2007
ANNUALIZED GENERAL ACCOUNT SPREADS BY PRODUCT (%)
Investment income yield		6.28	%		6.28	%		6.27	%		6.51	%		6.39	%
Average crediting rate		3.65	%		3.66	%		3.67	%		3.75	%		3.82	%
Spread		2.63	%		2.62	%		2.60	%		2.76	%		2.57	%

25

AUTO & HOME OPERATIONS

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — TOTAL
Unaudited (In millions)

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Auto & Home Operations	2006			2006			2006			2006			2007			2006			2007
REVENUES
Earned premiums		$724			$726			$732			$742			$716			$724			$716
Investment income, net		45			42			46			44			48			45			48
Other revenues		7			8			3			4			11			7			11
		776			776			781			790			775			776			775
EXPENSES
Losses and loss adjustment expense		451			432			426			408			430			451			430
Other expenses		203			211			210			227			203			203			203
		654			643			636			635			633			654			633
Operating earnings before provision (benefit) for income tax		122			133			145			155			142			122			142
Provision (benefit) for income tax		29			34			38			40			36			29			36
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$93			$99			$107			$115			$106			$93			$106
Net Income Reconciliation
Operating earnings available to common shareholders		$93			$99			$107			$115			$106			$93			$106
Net investment gains (losses)		1			(4	)		(1	)		8			12			1			12
Minority interest — net investment gains (losses)		0			0			0			0			0			0			0
Net investment gains (losses) tax benefit (provision)		(3	)		4			0			(3	)		(5	)		(3	)		(5	)
Net investment gains (losses), net of income tax		(2	)		0			(1	)		5			7			(2	)		7
Adjustments related to universal life and investment-type product policy fees		0			0			0			0			0			0			0
Adjustments related to policyholder benefits and dividends		0			0			0			0			0			0			0
Adjustments related to other expenses		0			0			0			0			0			0			0
Adjustments related to tax benefit (provision)		0			0			0			0			0			0			0
Adjustments related to net investment gains (losses), net of income tax		0			0			0			0			0			0			0
Discontinued operations, net of income tax		0			0			0			0			0			0			0
Net income available to common shareholders		91			99			106			120			113			91			113
Preferred stock dividends		0			0			0			0			0			0			0
Net income		$91			$99			$106			$120			$113			$91			$113
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$731			$734			$735			$746			$727			$731			$727

26

AUTO & HOME OPERATIONS

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL
Unaudited (In millions)

	For the Three Months Ended												For the Year-to-Date Period Ended
	March 31,			June 30,		September 30,			December 31,		March 31,		March 31,			March 31,
Auto	2006			2006		2006			2006		2007		2006			2007
REVENUES
Earned premiums		$517			$516		$519			$525		$502		$517			$502
Investment income, net		34			32		34			32		35		34			35
Other revenues		6			7		4			6		6		6			6
		557			555		557			563		543		557			543
EXPENSES
Losses and loss adjustment expense		334			321		295			282		307		334			307
Other expenses		137			145		141			149		136		137			136
		471			466		436			431		443		471			443
Operating earnings before provision (benefit) for income tax		86			89		121			132		100		86			100
Provision (benefit) for income tax		21			21		33			36		25		21			25
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$65			$68		$88			$96		$75		$65			$75
Net investment gains (losses), net of income tax		(1	)		0		(1	)		3		6		(1	)		6
Adjustments related to net investment gains (losses), net of income tax		0			0		0			0		0		0			0
Discontinued operations, net of income tax		0			0		0			0		0		0			0
Net income available to common shareholders		64			68		87			99		81		64			81
Preferred stock dividends		0			0		0			0		0		0			0
Net income		$64			$68		$87			$99		$81		$64			$81
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$523			$523		$523			$531		$508		$523			$508

27

AUTO & HOME OPERATIONS

STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS — PRODUCT LEVEL
Unaudited (In millions)

	For the Three Months Ended													For the Year-to-Date Period Ended
	March 31,			June 30,		September 30,			December 31,			March 31,		March 31,			March 31,
Homeowners & Other	2006			2006		2006			2006			2007		2006			2007
REVENUES
Earned premiums		$207			$210		$213			$217			$214		$207			$214
Investment income, net		11			10		12			12			13		11			13
Other revenues		1			1		(1	)		(2	)		5		1			5
		219			221		224			227			232		219			232
EXPENSES
Losses and loss adjustment expense		117			111		131			126			123		117			123
Other expenses		66			66		69			78			67		66			67
		183			177		200			204			190		183			190
Operating earnings before provision (benefit) for income tax		36			44		24			23			42		36			42
Provision (benefit) for income tax		8			13		5			4			11		8			11
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$28			$31		$19			$19			$31		$28			$31
Net investment gains (losses), net of income tax		(1	)		0		0			2			1		(1	)		1
Adjustments related to net investment gains (losses), net of income tax		0			0		0			0			0		0			0
Discontinued operations, net of income tax		0			0		0			0			0		0			0
Net income available to common shareholders		27			31		19			21			32		27			32
Preferred stock dividends		0			0		0			0			0		0			0
Net income		$27			$31		$19			$21			$32		$27			$32
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$208			$211		$212			$215			$219		$208			$219

28

AUTO & HOME OPERATIONS

WRITTEN PREMIUMS BY PRODUCT AND SELECTED FINANCIAL INFORMATION
AND SUPPLEMENTAL DATA

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007
WRITTEN PREMIUMS BY PRODUCT
Preferred/Standard Automobile		$498			$507			$531			$503			$498
Non-Standard Automobile		12			11			11			10			10
Homeowners & Other		186			226			239			213			193
Total		$696			$744			$781			$726			$701
SELECTED FINANCIAL INFORMATION AND SUPPLEMENTAL DATA
Total Auto & Home
Loss and loss adjustment expense ratio		62.4	%		59.3	%		58.3	%		54.9	%		60.1	%
Other expense ratio		27.2	%		28.6	%		28.1	%		30.1	%		27.6	%
Total combined ratio (1)		89.6	%		87.9	%		86.4	%		85.0	%		87.7	%
Effect of catastrophe losses		3.0	%		3.4	%		5.2	%		6.1	%		1.4	%
Combined ratio excluding catastrophes		86.6	%		84.5	%		81.2	%		78.9	%		86.3	%
Auto
Loss and loss adjustment expense ratio		64.7	%		62.2	%		56.8	%		53.7	%		61.2	%
Other expense ratio		25.7	%		27.1	%		26.3	%		27.7	%		26.3	%
Total combined ratio (1)		90.4	%		89.3	%		83.1	%		81.4	%		87.5	%
Effect of catastrophe losses		0.8	%		1.3	%		0.8	%		0.6	%		0.0	%
Combined ratio excluding catastrophes		89.6	%		88.0	%		82.3	%		80.8	%		87.5	%
Homeowners & Other
Loss and loss adjustment expense ratio		56.5	%		52.9	%		61.1	%		57.6	%		57.5	%
Other expense ratio		31.5	%		31.0	%		32.9	%		36.0	%		30.8	%
Total combined ratio (1)		88.0	%		83.9	%		94.0	%		93.6	%		88.3	%
Effect of catastrophe losses		8.4	%		8.1	%		16.0	%		19.2	%		4.6	%
Combined ratio excluding catastrophes		79.6	%		75.8	%		78.0	%		74.4	%		83.7	%
Pre-Tax Catastrophe Losses
Auto		$4			$7			$4			$3			$0
Homeowners & Other		17			17			34			42			10
Total		$21			$24			$38			$45			$10
Catastrophe points on combined ratios		3.0			3.4			5.2			6.1			1.4
Actual Number of Sales Representatives		98			93			93			100			99

(1) The combined ratio reflects payment fees as a credit to Other expenses for the three months ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, which resulted in a 0.7, 0.6, 0.6, 0.6 and 0.7 of a percentage point decrease in the combined ratio, respectively. The decreases for Auto and Homeowners & Other were 0.8 and 0.4 of a percentage point, respectively, for March 31, 2006, 0.7 and 0.4 of a percentage point, respectively, for June 30, 2006, 0.7 and 0.4 of a percentage point, respectively, for September 30, 2006, 0.7 and 0.4 of a percentage point, respectively, for December 31, 2006, and 0.8 and 0.4 of a percentage point, respectively, for March 31, 2007.

29

INTERNATIONAL OPERATIONS

STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS (1)

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007			2006			2007
REVENUES
Premiums		$631			$676			$675			$740			$715			$631			$715
Universal life and investment-type product policy fees		184			194			205			221			236			184			236
Investment income, net		211			215			265			259			250			211			250
Other revenues		4			4			8			12			13			4			13
		1,030			1,089			1,153			1,232			1,214			1,030			1,214
EXPENSES
Policyholder benefits and dividends		527			600			581			644			578			527			578
Interest credited to policyholder account balances		69			68			75			77			78			69			78
Capitalization of deferred policy acquisition costs		(151	)		(145	)		(146	)		(138	)		(146	)		(151	)		(146	)
Amortization of deferred policy acquisition costs		83			80			92			107			97			83			97
Other expenses		392			409			435			511			436			392			436
		920			1,012			1,037			1,201			1,043			920			1,043
Operating earnings before provision (benefit) for income tax		110			77			116			31			171			110			171
Provision (benefit) for income tax		34			13			44			15			47			34			47
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$76			$64			$72			$16			$124			$76			$124
Net Income Reconciliation
Operating earnings available to common shareholders		$76			$64			$72			$16			$124			$76			$124
Net investment gains (losses)		11			0			(15	)		(6	)		24			11			24
Minority interest — net investment gains (losses)		0			0			0			0			0			0			0
Net investment gains (losses) tax benefit (provision)		(6	)		(5	)		4			(2	)		(6	)		(6	)		(6	)
Net investment gains (losses), net of income tax		5			(5	)		(11	)		(8	)		18			5			18
Adjustments related to universal life and investment-type product policy fees		0			0			0			0			0			0			0
Adjustments related to policyholder benefits and dividends		22			49			(73	)		(55	)		(15	)		22			(15	)
Adjustments related to other expenses		0			0			0			0			0			0			0
Adjustments related to tax benefit (provision)		(7	)		(18	)		25			20			4			(7	)		4
Adjustments related to net investment gains (losses), net of income tax (2)		15			31			(48	)		(35	)		(11	)		15			(11	)
Discontinued operations, net of income tax		8			11			(2	)		11			(31	)		8			(31	)
Net income available to common shareholders		104			101			11			(16	)		100			104			100
Preferred stock dividends		0			0			0			0			0			0			0
Net income		$104			$101			$11			($16	)		$100			$104			$100
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$819			$874			$888			$973			$964			$819			$964
Actual Number of Professional Sales Representatives		3,782			3,982			3,946			3,562			3,471

(1)	Certain prior period amounts have been reclassified to conform with current period presentation.
(2)	Adjustments related to net investment gains (losses), net of income tax, includes amortization of deferred policy acquisition costs and amounts allocable to certain participating contracts.

30

REINSURANCE OPERATIONS

STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended																For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,				March 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007				2006			2007
REVENUES
Premiums		$993			$1,078			$1,076			$1,201			$1,126				$993			$1,126
Investment income, net		174			156			171			231			206				174			206
Other revenues		15			13			19			19			18				15			18
		1,182			1,247			1,266			1,451			1,350				1,182			1,350
EXPENSES
Claims and other policy benefits		813			871			849			957			902				813			902
Interest credited to policyholder account balances		63			48			46			97			65				63			65
Policy acquisition costs and other insurance expenses		158			174			185			203			177				158			177
Other expenses		63			60			84			88			90				63			90
		1,097			1,153			1,164			1,345			1,234				1,097			1,234
Operating earnings before provision (benefit) for income tax and minority interest		85			94			102			106			116				85			116
Provision (benefit) for income tax		12			16			17			17			20				12			20
Operating earnings available to common shareholders before minority interest		73			78			85			89			96				73			96
Elimination of minority interest, before tax		49			49			56			56			60				49			60
CONTRIBUTION TO METLIFE		$24			$29			$29			$33			$36				$24			$36
Net Income Reconciliation
Operating earnings available to common shareholders		$24			$29			$29			$33			$36				$24			$36
Net investment gains (losses)		8			(15	)		3			11			(6	)			8			(6	)
Minority interest — net investment gains (losses)		(2	)		4			0			(2	)		4				(2	)		4
Net investment gains (losses) tax benefit (provision)		(2	)		4			(2	)		(3	)		0				(2	)		0
Net investment gains (losses), net of income tax		4			(7	)		1			6			(2	)			4			(2	)
Adjustments related to universal life and investment-type product policy fees		0			0			0			0			0				0			0
Adjustments related to policyholder benefits and dividends		0			0			0			0			0				0			0
Adjustments related to other expenses		(3	)		8			(1	)		(6	)		(2	)			(3	)		(2	)
Adjustments related to tax benefit (provision)		1			(3	)		1			2			2				1			2
Adjustments related to net investment gains (losses), net of income tax (1)		(2	)		5			0			(4	)		0				(2	)		0
Discontinued operations, net of income tax		0			0			0			0			0				0			0
Net income available to common shareholders		26			27			30			35			34				26			34
Preferred stock dividends		0			0			0			0			0				0			0
																��
Net income		$26			$27			$30			$35			$34				$26			$34
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$1,008			$1,091			$1,095			$1,220			$1,144				$1,008			$1,144

(1) Adjustments related to net investment gains (losses), net of income tax, include amortization of deferred policy acquisition costs.

31

REINSURANCE OPERATIONS

PRE-TAX AND PRE-MINORITY INTEREST OPERATING
EARNINGS BY REGION AND RESERVES BY REGION

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007
PRE-TAX AND PRE-MINORITY INTEREST OPERATING EARNINGS BY REGION
United States		$66			$66			$75			$72			$84
Canada		7			9			12			11			12
Asia-Pacific		7			8			19			24			11
Other international markets		15			17			9			17			21
Corporate		(10	)		(6	)		(13	)		(18	)		(12	)
Total pre-tax and pre-minority interest operating earnings		$85			$94			$102			$106			$116
POLICY BENEFITS AND INTEREST SENSITIVE CONTRACT LIABILITIES BY REGION
Traditional U.S.		$4,157			$4,239			$4,328			$4,571			$4,627
Asset intensive		4,773			4,911			5,022			5,265			5,359
Other		77			90			68			71			35
Total U.S.		9,007			9,240			9,418			9,907			10,021
Canada		1,622			1,780			1,781			1,737			1,783
Asia-Pacific		708			752			780			874			937
Other international markets		719			774			786			814			905
Total International		3,049			3,306			3,347			3,425			3,625
Total policy benefits and interest sensitive contract liabilities		$12,056			$12,546			$12,765			$13,332			$13,646

32

CORPORATE, OTHER & ELIMINATIONS

STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended															For the Year-to-Date Period Ended
	March 31,			June 30,			September 30,			December 31,			March 31,			March 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007			2006			2007
REVENUES
Premiums		$9			$10			$7			$9			$8			$9			$8
Universal life and investment-type product policy fees		0			0			0			0			0			0			0
Investment income, net		296			308			219			320			370			296			370
Other revenues		7			6			12			9			6			7			6
		312			324			238			338			384			312			384
EXPENSES
Policyholder benefits and dividends		7			13			13			4			11			7			11
Interest credited to policyholder account balances		0			0			0			0			0			0			0
Interest credited to bank deposits		43			48			51			52			51			43			51
Interest expense		175			183			200			187			189			175			189
Other expenses		93			111			70			136			93			93			93
		318			355			334			379			344			318			344
Operating earnings before provision (benefit) for income tax		(6	)		(31	)		(96	)		(41	)		40			(6	)		40
Provision (benefit) for income tax		(48	)		(50	)		(123	)		(109	)		(39	)		(48	)		(39	)
Operating earnings		42			19			27			68			79			42			79
Preferred stock dividends		33			33			34			34			34			33			34
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS		$9			($14	)		($7	)		$34			$45			$9			$45
Net Income Reconciliation
Operating earnings available to common shareholders		$9			($14	)		($7	)		$34			$45			$9			$45
Net investment gains (losses)		(49	)		(64	)		(40	)		4,698			6			(49	)		6
Minority interest — net investment gains (losses)		0			0			0			0			0			0			0
Net investment gains (losses) tax benefit (provision)		16			21			12			(1,654	)		(2	)		16			(2	)
Net investment gains (losses), net of income tax		(33	)		(43	)		(28	)		3,044			4			(33	)		4
Adjustments related to universal life and investment-type product policy fees		0			0			0			0			0			0			0
Adjustments related to policyholder benefits and dividends		0			0			0			0			0			0			0
Adjustments related to other expenses		0			0			0			0			0			0			0
Adjustments related to tax benefit (provision)		0			0			0			0			0			0			0
Adjustments related to net investment gains (losses), net of income tax		0			0			0			0			0			0			0
Discontinued operations, net of income tax		0			30			0			2			16			0			16
Net income available to common shareholders		(24	)		(27	)		(35	)		3,080			65			(24	)		65
Preferred stock dividends		33			33			34			34			34			33			34
Net income		$9			$6			($1	)		$3,114			$99			$9			$99
Premiums, Fees and Other Revenues
Total Premiums, Fees and Other Revenues		$16			$16			$19			$18			$14			$16			$14

33

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

	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007
FIXED MATURITY SECURITIES (1)
Yield (2)		6.14	%		6.10	%		6.17	%		6.23	%		6.15	%
Investment Income (3)		$2,972			$2,963			$2,990			$3,052			$3,065
Investment gains (losses)		($410	)		($386	)		($126	)		($198	)		($92	)
Ending Carrying Value (3)		$239,220			$236,131			$241,656			$242,687			$248,693
MORTGAGE AND CONSUMER LOANS
Yield (2)		6.68	%		6.41	%		6.53	%		6.78	%		6.36	%
Investment Income (4)		$585			$574			$602			$650			$632
Investment gains (losses)		$4			$3			($8	)		($7	)		$0
Ending Carrying Value		$37,351			$38,665			$40,141			$42,239			$43,936
REAL ESTATE AND REAL ESTATE JOINT VENTURES (5)
Yield (2)		12.50	%		11.37	%		8.73	%		13.27	%		11.60	%
Investment Income		$146			$135			$103			$165			$151
Investment gains (losses)		$17			$54			$118			$4,709			$7
Ending Carrying Value		$4,700			$4,786			$4,931			$4,986			$5,427
POLICY LOANS
Yield (2)		5.84	%		5.89	%		6.10	%		6.13	%		6.16	%
Investment Income		$146			$147			$154			$156			$157
Ending Carrying Value		$9,987			$10,065			$10,115			$10,228			$10,177
EQUITY SECURITIES AND OTHER LIMITED PARTNERSHIP INTERESTS (1)
Yield (2)		12.86	%		14.83	%		10.41	%		18.86	%		15.25	%
Investment Income		$235			$278			$198			$356			$345
Investment gains (losses)		$27			$25			($7	)		$40			$64
Ending Carrying Value (3)		$7,870			$8,007			$7,863			$9,875			$10,082
CASH AND SHORT-TERM INVESTMENTS
Yield (2)		4.63	%		4.70	%		5.42	%		6.89	%		6.16	%
Investment Income		$80			$85			$120			$157			$123
Investment gains (losses)		($1	)		($1	)		$1			($1	)		$0
Ending Carrying Value		$8,512			$8,193			$11,763			$9,816			$9,028
OTHER INVESTED ASSETS (1) (6)
Yield (2)		8.92	%		7.94	%		10.02	%		11.28	%		8.99	%
Investment Income		$171			$168			$222			$260			$212
Investment gains (losses)		($270	)		($525	)		$278			($219	)		($74	)
Ending Carrying Value		$8,386			$9,652			$9,194			$10,428			$9,713
TOTAL INVESTMENTS (1)
Gross investment income yield (2)		6.54	%		6.49	%		6.48	%		6.95	%		6.67	%
Investment fees and expenses yield		(0.12	%)		(0.14	%)		(0.16	%)		(0.18	%)		(0.15	%)
NET INVESTMENT INCOME YIELD		6.42	%		6.35	%		6.32	%		6.77	%		6.52	%
Gross investment income (1)		$4,335			$4,350			$4,389			$4,796			$4,685
Investment fees and expenses		(81	)		(96	)		(106	)		(121	)		(103	)
NET INVESTMENT INCOME		$4,254			$4,254			$4,283			$4,675			$4,582
Ending Carrying Value		$316,026			$315,499			$325,663			$330,259			$337,056
Gross investment gains (1)		$217			$255			$299			$4,983			$308
Gross investment losses (1)		(566	)		(660	)		(311	)		(499	)		(289	)
Writedowns		(22	)		(45	)		(25	)		(44	)		(3	)
Subtotal		(371	)		(450	)		(37	)		4,440			16
Derivative & other instruments not qualifying for hedge accounting (1)		(262	)		(380	)		293			(116	)		(111	)
INVESTMENT GAINS (LOSSES)		(633	)		(830	)		256			4,324			(95	)
Minority interest — net investment gains (losses)		(2	)		4			0			(2	)		4
Investment gains (losses) tax benefit (provision)		220			289			(92	)		(1,531	)		33
INVESTMENT GAINS (LOSSES), NET OF INCOME TAX		($415	)		($537	)		$164			$2,791			($58	)

(1)	Certain prior period amounts have been reclassified to conform with current period presentation.
(2)	Yields are based on quarterly average asset carrying values, excluding recognized and unrealized investment gains (losses), and for yield calculation purposes, average assets exclude collateral associated with the Company’s securities lending program.
(3)	Fixed maturity securities includes $883 million, $519 million, $780 million, $759 million and $777 million in ending carrying value, and $19 million, ($3) million, $14 million, $41 million and $15 million of investment income (loss) related to trading securities at or for the three months ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively.
(4)	Investment income from mortgage and consumer loans includes prepayment fees.
(5)	Included in investment income from real estate and real estate joint ventures is $19 million, $28 million, $19 million, $18 million and $3 million related to discontinued operations for the three months ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively. Included in investment gains (losses) from real estate and real estate joint ventures is ($5) million, ($3) million, $99 million, $4,704 million and $5 million related to discontinued operations for the three months ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively.
(6)	Included in investment income from other invested assets are scheduled periodic settlement payments on derivative instruments that do not qualify for hedge accounting under SFAS 133 of $39 million, $68 million, $96 million, $87 million and $58 million for the three months ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively. These amounts are excluded from investment gains (losses). Additionally, excluded from investment gains (losses) is ($4) million, $3 million, $3 million, $5 million and $4 million for the three months ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively, related to settlement payments on derivatives used to hedge interest rate and currency risk on policyholder account balances that do not qualify for hedge accounting. Such amounts are included within interest credited to policyholder account balances.

34

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

	For the Year-to-Date Ended
	March 31,			June 30,			September 30,			December 31,			March 31,
Unaudited (In millions)	2006			2006			2006			2006			2007
FIXED MATURITY SECURITIES (1)
Yield (2)		6.14	%		6.12	%		6.14	%		6.16	%		6.15	%
Investment Income (3)		$2,972			$5,935			$8,925			$11,977			$3,065
Investment gains (losses)		($410	)		($796	)		($922	)		($1,120	)		($92	)
Ending Carrying Value (3)		$239,220			$236,131			$241,656			$242,687			$248,693
MORTGAGE AND CONSUMER LOANS
Yield (2)		6.68	%		6.55	%		6.54	%		6.60	%		6.36	%
Investment Income (4)		$585			$1,159			$1,761			$2,411			$632
Investment gains (losses)		$4			$7			($1	)		($8	)		$0
Ending Carrying Value		$37,351			$38,665			$40,141			$42,239			$43,936
REAL ESTATE AND REAL ESTATE JOINT VENTURES (5)
Yield (2)		12.50	%		11.93	%		10.86	%		11.55	%		11.60	%
Investment Income		$146			$281			$384			$549			$151
Investment gains (losses)		$17			$71			$189			$4,898			$7
Ending Carrying Value		$4,700			$4,786			$4,931			$4,986			$5,427
POLICY LOANS
Yield (2)		5.84	%		5.86	%		5.94	%		5.99	%		6.16	%
Investment Income		$146			$293			$447			$603			$157
Ending Carrying Value		$9,987			$10,065			$10,115			$10,228			$10,177
EQUITY SECURITIES AND OTHER LIMITED PARTNERSHIP INTERESTS (1)
Yield (2)		12.86	%		13.86	%		12.68	%		14.90	%		15.25	%
Investment Income		$235			$513			$711			$1,067			$345
Investment gains (losses)		$27			$52			$45			$85			$64
Ending Carrying Value (3)		$7,870			$8,007			$7,863			$9,875			$10,082
CASH AND SHORT-TERM INVESTMENTS
Yield (2)		4.63	%		4.67	%		4.96	%		5.51	%		6.16	%
Investment Income		$80			$165			$285			$442			$123
Investment gains (losses)		($1	)		($2	)		($1	)		($2	)		$0
Ending Carrying Value		$8,512			$8,193			$11,763			$9,816			$9,028
OTHER INVESTED ASSETS (1) (6)
Yield (2)		8.92	%		8.41	%		8.98	%		9.60	%		8.99	%
Investment Income		$171			$339			$561			$821			$212
Investment gains (losses)		($270	)		($795	)		($517	)		($736	)		($74	)
Ending Carrying Value		$8,386			$9,652			$9,194			$10,428			$9,713
TOTAL INVESTMENTS (1)
Gross investment income yield (2)		6.54	%		6.51	%		6.50	%		6.62	%		6.67	%
Investment fees and expenses yield		(0.12	%)		(0.13	%)		(0.14	%)		(0.15	%)		(0.15	%)
NET INVESTMENT INCOME YIELD		6.42	%		6.38	%		6.36	%		6.47	%		6.52	%
Gross investment income (1)		$4,335			$8,685			$13,074			$17,870			$4,685
Investment fees and expenses		(81	)		(177	)		(283	)		(404	)		(103	)
NET INVESTMENT INCOME		$4,254			$8,508			$12,791			$17,466			$4,582
Ending Carrying Value		$316,026			$315,499			$325,663			$330,259			$337,056
Gross investment gains (1)		$217			$472			$771			$5,754			$308
Gross investment losses (1)		(566	)		(1,226	)		(1,537	)		(2,036	)		(289	)
Writedowns		(22	)		(67	)		(92	)		(136	)		(3	)
Subtotal		(371	)		(821	)		(858	)		3,582			16
Derivative & other instruments not qualifying for hedge accounting (1)		(262	)		(642	)		(349	)		(465	)		(111	)
INVESTMENT GAINS (LOSSES)		(633	)		(1,463	)		(1,207	)		3,117			(95	)
Minority interest — net investment gains (losses)		(2	)		2			2			0			4
Investment gains (losses) tax benefit (provision)		220			509			417			(1,114	)		33
INVESTMENT GAINS (LOSSES), NET OF INCOME TAX		($415	)		($952	)		($788	)		$2,003			($58	)

(1)	Certain prior period amounts have been reclassified to conform with current period presentation.
(2)	Yields are based on quarterly average asset carrying values, excluding recognized and unrealized investment gains (losses), and for yield calculation purposes, average assets exclude collateral associated with the Company’s securities lending program.
(3)	Fixed maturity securities includes $883 million, $519 million, $780 million, $759 million and $777 million in ending carrying value, and $19 million, $16 million, $30 million, $71 million and $15 million of investment income (loss) related to trading securities at or for the year-to-date ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively.
(4)	Investment income from mortgage and consumer loans includes prepayment fees.
(5)	Included in investment income from real estate and real estate joint ventures is $19 million, $47 million, $66 million, $84 million and $3 million related to discontinued operations for year-to-date ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively. Included in investment gains (losses) from real estate and real estate joint ventures is ($5) million, ($8) million, $91 million, $4,795 million and $5 million related to discontinued operations for year-to-date ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively.
(6)	Included in investment income from other invested assets are scheduled periodic settlement payments on derivative instruments that do not qualify for hedge accounting under SFAS 133 of $39 million, $107 million, $203 million, $290 million and $58 million for the year-to-date ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively. These amounts are excluded from investment gains (losses). Additionally, excluded from investment gains (losses) is ($4) million, ($1) million, $2 million, $7 million and $4 million for the year-to-date ended March 31, 2006, June 30, 2006, September 30, 2006, December 31, 2006 and March 31, 2007, respectively, related to settlement payments on derivatives used to hedge interest rate and currency risk on policyholder account balances that do not qualify for hedge accounting. Such amounts are included within interest credited to policyholder account balances.

35

METLIFE, INC.
GROSS UNREALIZED GAINS AND LOSSES AGING SCHEDULE
FIXED MATURITY SECURITIES (1) (2)

	March 31, 2006					June 30, 2006					September 30, 2006					December 31, 2006					March 31, 2007
Unaudited (In millions)	Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total
Less than 20%		$4,370		98.7	%		$6,360		96.4	%		$2,463		98.3	%		$2,265		99.2	%		$1,920		98.4	%
20% or more for less than six months		47		1.1	%		228		3.4	%		6		0.2	%		7		0.3	%		26		1.3	%
20% or more for six months or greater		9		0.2	%		10		0.2	%		38		1.5	%		11		0.5	%		6		0.3	%
Total Gross Unrealized Losses		$4,426		100.0	%		$6,598		100.0	%		$2,507		100.0	%		$2,283		100.0	%		$1,952		100.0	%
Total Gross Unrealized Gains		$6,119					$4,986					$7,341					$7,444					$7,535

GROSS UNREALIZED GAINS AND LOSSES AGING SCHEDULE
EQUITY SECURITIES (1) (2)

	March 31, 2006					June 30, 2006					September 30, 2006					December 31, 2006					March 31, 2007
Unaudited (In millions)	Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total
Less than 20%		$30		75.0	%		$51		69.9	%		$26		60.5	%		$39		86.7	%		$40		81.6	%
20% or more for less than six months		10		25.0	%		22		30.1	%		17		39.5	%		5		11.1	%		9		18.4	%
20% or more for six months or greater		0		0.0	%		0		0.0	%		0		0.0	%		1		2.2	%		0		0.0	%
Total Gross Unrealized Losses		$40		100.0	%		$73		100.0	%		$43		100.0	%		$45		100.0	%		$49		100.0	%
��
Total Gross Unrealized Gains		$384					$338					$404					$590					$541

(1)

Certain prior period amounts have been reclassified to conform with current period presentation.

(2)

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 amortized cost by less than 20%; (ii) securities where the estimated value had declined and remained below amortized cost by 20% or more for less than six months; and (iii) securities where the estimated value had declined and remained below amortized cost by 20% or more for six months or greater.

36

METLIFE, INC.
SUMMARY OF FIXED MATURITY SECURITIES AVAILABLE FOR SALE
BY SECTOR AND QUALITY DISTRIBUTION (1)

		March 31, 2006					June 30, 2006					September 30, 2006					December 31, 2006					March 31, 2007
Unaudited (In millions)		Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total
U.S. corporate securities			$73,623		30.9	%		$74,832		31.8	%		$76,222		31.7	%		$75,074		31.0	%		$76,912		31.0	%
Residential mortgage-backed securities			52,016		21.8	%		51,136		21.7	%		53,761		22.3	%		51,666		21.4	%		56,420		22.8	%
Foreign corporate securities			34,100		14.3	%		34,735		14.7	%		36,116		15.0	%		34,946		14.4	%		37,258		15.0	%
US Treasury/agency securities			27,724		11.6	%		26,184		11.1	%		26,578		11.0	%		30,633		12.7	%		27,569		11.1	%
Commercial mortgage-backed securities			19,953		8.4	%		18,533		7.9	%		17,377		7.2	%		16,522		6.8	%		17,875		7.2	%
Asset-backed securities			13,615		5.7	%		13,051		5.5	%		13,000		5.4	%		13,873		5.7	%		13,526		5.5	%
Foreign government securities			11,537		4.9	%		11,288		4.8	%		12,382		5.1	%		12,599		5.2	%		13,094		5.3	%
State and political subdivision securities			4,839		2.0	%		4,882		2.1	%		5,094		2.1	%		6,300		2.6	%		4,816		1.9	%
Other fixed maturity securities			930		0.4	%		971		0.4	%		346		0.2	%		315		0.2	%		446		0.2	%
Total Fixed Maturity Securities			$238,337		100.0	%		$235,612		100.0	%		$240,876		100.0	%		$241,928		100.0	%		$247,916		100.0	%
NAIC	RATING AGENCY
RATING (2)	EQUIVALENT DESIGNATION
1	Aaa/Aa/A		$175,142		73.5	%		$170,998		72.6	%		$175,913		73.0	%		$177,969		73.6	%		$181,569		73.3	%
2	Baa		47,567		20.0	%		47,749		20.3	%		48,679		20.2	%		46,881		19.4	%		48,866		19.7	%
3	Ba		9,464		4.0	%		9,814		4.2	%		9,397		3.9	%		9,738		4.0	%		9,990		4.0	%
4	B		5,907		2.4	%		6,719		2.8	%		6,638		2.8	%		7,030		2.9	%		7,046		2.8	%
5	Caa and lower		235		0.1	%		314		0.1	%		229		0.1	%		294		0.1	%		428		0.2	%
6	In or near default		22		0.0	%		18		0.0	%		20		0.0	%		16		0.0	%		17		0.0	%
Total Fixed Maturity Securities			$238,337		100.0	%		$235,612		100.0	%		$240,876		100.0	%		$241,928		100.0	%		$247,916		100.0	%

(1)	Certain prior period amounts have been reclassified to conform with current period presentation.
(2)	Amounts presented are based on rating agency designations. Comparisons between NAIC ratings and rating agency designations are published by the NAIC.

METLIFE, INC.
SUMMARY OF COMMERCIAL MORTGAGE LOANS BY
REGION AND PROPERTY TYPE

	March 31, 2006					June 30, 2006					September 30, 2006					December 31, 2006					March 31, 2007
Unaudited (In millions)	Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total
Pacific		$7,038		24.9	%		$7,602		25.8	%		$7,908		25.7	%		$7,663		24.0	%		$7,464		22.3	%
South Atlantic		6,343		22.4	%		6,714		22.7	%		7,029		22.8	%		6,881		21.6	%		7,922		23.7	%
Middle Atlantic		4,177		14.8	%		4,346		14.7	%		4,251		13.8	%		4,858		15.3	%		5,026		15.1	%
East North Central		3,161		11.2	%		2,884		9.8	%		2,972		9.6	%		2,879		9.0	%		3,057		9.2	%
West South Central		2,288		8.1	%		2,482		8.4	%		2,568		8.3	%		2,631		8.3	%		2,483		7.4	%
New England		1,261		4.5	%		1,165		3.9	%		1,125		3.6	%		1,301		4.1	%		1,421		4.3	%
International		1,896		6.7	%		2,242		7.6	%		2,449		7.9	%		2,832		8.9	%		3,096		9.3	%
Mountain		821		2.9	%		814		2.8	%		912		3.0	%		859		2.7	%		830		2.5	%
West North Central		817		2.9	%		811		2.7	%		831		2.7	%		799		2.5	%		777		2.3	%
East South Central		380		1.3	%		378		1.3	%		489		1.6	%		452		1.4	%		495		1.5	%
Other		96		0.3	%		95		0.3	%		314		1.0	%		692		2.2	%		792		2.4	%
Total		$28,278		100.0	%		$29,533		100.0	%		$30,848		100.0	%		$31,847		100.0	%		$33,363		100.0	%
Office		$13,636		48.2	%		$14,060		47.6	%		$14,756		47.8	%		$15,083		47.4	%		$14,726		44.1	%
Retail		6,270		22.2	%		6,585		22.3	%		6,617		21.5	%		6,552		20.6	%		7,143		21.4	%
Apartments		3,283		11.6	%		3,422		11.6	%		3,580		11.6	%		3,772		11.8	%		3,950		11.8	%
Industrial		2,763		9.8	%		2,939		10.0	%		2,962		9.6	%		2,850		8.9	%		2,824		8.5	%
Hotel		1,490		5.3	%		1,429		4.8	%		1,799		5.8	%		2,120		6.7	%		2,452		7.4	%
Other		836		2.9	%		1,098		3.7	%		1,134		3.7	%		1,470		4.6	%		2,268		6.8	%
Total		$28,278		100.0	%		$29,533		100.0	%		$30,848		100.0	%		$31,847		100.0	%		$33,363		100.0	%

37

METLIFE, INC.
SUMMARY OF REAL ESTATE

	March 31,		June 30,		September 30,		December 31,		March 31,
Unaudited (In millions)	2006		2006		2006		2006		2007
Wholly-owned		$3,902		$3,854		$3,691		$3,506		$3,815
Joint ventures		794		923		1,231		1,477		1,609
Subtotal		4,696		4,777		4,922		4,983		5,424
Foreclosed		4		9		9		3		3
Total Real Estate (1)		$4,700		$4,786		$4,931		$4,986		$5,427

SUMMARY OF MORTGAGES AND CONSUMER LOANS

	March 31,		June 30,		September 30,		December 31,		March 31,
Unaudited (In millions)	2006		2006		2006		2006		2007
Commercial mortgages		$28,278		$29,533		$30,848		$31,847		$33,363
Agricultural mortgages		7,689		7,817		8,056		9,213		9,457
Consumer loans		1,384		1,315		1,237		1,179		1,116
Total		$37,351		$38,665		$40,141		$42,239		$43,936

(1) Includes real estate held-for-sale and held-for-investment.

38

Company Ratings as of April 30, 2007

	Moody’s	Standard &	A.M. Best		Fitch
	Investors Service	Poor's	Company		Ratings
Financial Strength Ratings
First MetLife Investors Insurance Co.	NR	AA	A+		NR
General American Life Insurance Company	Aa2	AA	A+		AA
MetLife Insurance Company of Connecticut	Aa2	AA	A+		AA
MetLife Insurance Company of Connecticut (Short-term rating)	P-1	NR	NR		NR
MetLife Investors Insurance Company	Aa2	AA	A+		AA
MetLife Investors USA Insurance Company	Aa2	AA	A+		AA
MetLife Life and Annuity Company of Connecticut	Aa2	AA	A+		AA
Metropolitan Casualty Insurance Company	NR	NR	A		NR
Metropolitan Direct Property and Casualty Insurance Co.	NR	NR	A		NR
Metropolitan General Insurance Company	NR	NR	A		NR
Metropolitan Group Property & Casualty Insurance Co.	NR	NR	A		NR
Metropolitan Life Insurance Company	Aa2	AA	A+		AA
Metropolitan Life Insurance Company (Short-term rating)	P-1	A-1+	NR		NR
Metropolitan Lloyds Insurance Company of Texas	NR	NR	A		NR
Metropolitan Property and Casualty Insurance Company	Aa3	NR	A		NR
Metropolitan Tower Life Insurance Company	Aa3	NR	A+		NR
New England Life Insurance Company	Aa2	AA	A+		AA
Texas Life Insurance Company	NR	NR	A		NR
RGA Reinsurance Company	A1	AA-	A+		AA-
Credit Ratings
GenAmerica Capital I
Preferred Stock	A3	BBB+	NR		A-
General American Life Insurance Company
Surplus Notes	A1	A+	a+	*	NR
MetLife, Inc.
Senior Unsecured Debt	A2	A	a	*	A
Commercial Paper	P-1	A-1	AMB-1	*	F1
Subordinated Debt	A3	NR	a-	*	NR
Junior Subordinated Debt	Baa1	BBB+	bbb+	*	NR
Preferred Stock	Baa1	BBB+	bbb+	*	A-
Non-Cumulative Perpetual Preferred Stock	Baa1	BBB	bbb+	*	A-
MetLife Capital Trust II
Trust Preferred Stock	A3	BBB+	a-	*	A-
MetLife Capital Trust III
Trust Preferred Stock	A3	BBB+	a-	*	A-
MetLife Funding, Inc.
Commercial Paper	P-1	A-1+	AMB-1+	*	F1+
Metropolitan Life Global Funding I
Senior Secured Debt	Aa2	AA	aa	*	NR
Metropolitan Life Insurance Company
Surplus Notes	A1	A+	a+	*	A+
Reinsurance Group of America, Incorporated
Senior Unsecured Debt	Baa1	A-	a-		A-
Junior Subordinated Debt	Baa3	BBB-	bbb		BBB+
RGA Capital Trust I
Preferred Stock	Baa2	BBB	bbb+		BBB+
RGA Capital Trust II
Preferred Stock	Baa2	BBB	bbb+		BBB+

*	A.M. Best’s outlook for these ratings is negative.
NR	Not Rated

39