MetLife (NYSE:MET) signed a $19.20 billion reinsurance deal with Global Atlantic and increased its buyback program to $4 billion.
MetLife also missed Q1 earnings as economic uncertainty continues to take its toll on the company’s investment income.
Following the news, MetLife ended Thursday’s session up 5%.
The deal with Global Atlantic is expected to be finalized in H2 2023 and is expected to have a positive impact on the company’s financials.
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