MetLife investment yields squeezed by rate cuts, repo turmoil
US insurer MetLife reported lower investment yields at its retirement and income solutions (RIS) division in the third quarter of this year, as declining interest rates, the inversion of the US yield curve and whipsawing repo markets all took their toll.
The annualised general account spread for the unit fell to 1.02% at end-September, down from 1.19% in Q2 and 1.25% in the year-ago quarter. Third-quarter adjusted earnings for the RIS division were $284 million, down 19% on Q2 and by 16% on the
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