Q2 2019 MetLife Inc Financial Update Video Transcript
I'm John McCallion. I'm joining you to discuss MetLife's results for the Second Quarter of 2019. MetLife delivered another strong quarter, driven by solid volume growth, favorable underwriting and good expense management. Net income was $1.7 billion compared to net income of $845 million in the second quarter of 2018. Adjusted earnings of $1.3 billion remained relatively flat compared to the prior year period, but on a per share basis, which includes the impact of share repurchases, adjusted earnings were $1.38 and up 6%.
Now let's turn to our business segments. Adjusted earnings in the U.S. were up 9%. Group Benefits was up 19%, driven by favorable volume growth and expense margin. Group Benefits continued to see strong sales momentum, with sales through the first 6 months, up 12%, driven by growth in our voluntary products across all markets. Property & Casualty adjusted earnings were up 11% as they benefited from good underwriting, including lower incurred catastrophe losses. Adjusted earnings in Retirement and
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