US based insurance firm MetLife has reported net income of $3.6bn for the third quarter ended 30 September 2011, up 1158% from the $286m in the same quarter previous year.
The company also posted operating earnings of $1.2b for the third quarter, up 23% compared to $958m in the previous year’s quarter.
The company’s total operating revenues were $17b in the third quarter of 2011, up 33% over the $12.8b in the same quarter previous year.
Operating earnings per share was up by 3% to 1.11, while net income per share was increased by Y% to $3.33, according to the company.
MetLife president and chief executive officer Steven Kandarian said they increased operating earnings 23%, generated a record $12b in premiums, fees and other revenues and had strong top line growth in both their US and international businesses compared with the third quarter of 2010.
"We also demonstrated that, despite several unusual items during the third quarter, the core fundamentals of our diverse, global businesses are strong, and we remain committed to delivering further value for our customers and our shareholders," Kandarian said.