Hedging gains boost MetLife earnings

MetLife was well-shielded against the stock market swoon at the end of 2018 by its hedging derivatives, which boosted fourth-quarter income to $2 billion, double that reported for the three months to end-September. 

Net derivatives gains for the fourth quarter were $939 million, reversing a net loss of $378 million posted in the third quarter. The late surge in the hedge portfolio's value led to a full-year net derivatives gain of $851 million, compared with a net loss of $590 million the year