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MetLife For Immediate Release I Global Communications I MetLife , Inc. METLIFE ANNOUNCES THIRD QUARTER 2021 RESULTS NEW YORK , Nov. 3 , 2021 - MetLife , Inc. ( NYSE : MET ) today announced its third quarter 2021 results . ● Third Quarter Results Summary Net income of $ 1.5 billion , or $ 1.77 per share , compared to net income of $ 633 million , or $ 0.69 per share , in the third quarter of 2020 . Adjusted earnings of $ 2.1 billion , or $ 2.39 per share , compared to adjusted earnings of $ 1.6 billion , or $ 1.73 per share , in the third quarter of 2020 . Book value of $ 77.24 per share , up 1 percent from $ 76.20 per share at September 30 , 2020 . Book value , excluding accumulated other comprehensive income ( AOCI ) other than foreign currency translation adjustments ( FCTA ) , of $ 57.29 per share , up 8 percent from $ 53.10 per share at September 30 , 2020 . Return on equity ( ROE ) of 9.3 percent . Adjusted ROE , excluding AOCI other than FCTA , of 17.0 percent . Holding company cash and liquid assets of $ 5.1 billion at September 30 , 2021 , which is above the target cash buffer of $ 3.0 - $ 4.0 billion . Commenting on the company's results , MetLife President and CEO Michel Khalaf said : " MetLife delivered another very strong quarter . Outstanding variable investment income more than offset elevated COVID claims , underlying PFO growth was strong , and expense discipline held firm . Having the right strategy , a superior asset mix , and consistent execution continues to generate exceptional earnings . " Page 1 of 28