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METLIFE ANNOUNCES 1992 RESULTS

 NEW YORK, March 17 /PRNewswire/ -- MetLife achieved strong results last year despite a challenging economic environment, said Robert G. Schwartz, the company's chairman, president and chief executive officer, in announcing MetLife's financial results for 1992.
 MetLife's highlights for 1992 include the following:
 -- Total capital reached a record $6.6 billion, an increase of more than $250 million, after federal income taxes of over $400 million.
 -- MetLife's U.S. personal insurance sales force set a new company record with total sales of $3.1 billion, an increase of 21 percent from 1991's record results.
 -- Life insurance in-force climbed to $1.1 trillion, surpassing the company's 1991 North American record of $1 trillion.
 -- Total company assets under management rose to a new high of $150.3 billion, up $6.3 billion from 1991.
 -- MetLife's total revenues reached a record $40.4 billion.
 -- Payments to policyholders and beneficiaries, including dividends, totaled $31.2 billion.
 All of MetLife's personal insurance products -- personal life insurance, property and casualty insurance, annuities and mutual funds -- reached new heights in 1992, a sign of the public's continued flight to quality. New personal life insurance premium increased by 10 percent, from $676 million in 1991 to more than $743 million last year. The company captured more than 9 percent of the market for personal life insurance premium, and the average face amount of personal life insurance policies reached nearly $100,000, surpassing the industry average by 10 percent. Property and casualty sales rose to $190 million, mutual fund sales increased 111 percent to $744 million, and annuity sales rose to more than $1.4 billion.
 The group insurance department kept MetLife well-positioned to play a significant role in the nation's reformed health care system, which is likely to focus on "managed competition." U.S. group revenues reached $14.6 billion, a new company record, and new group sales totaled almost $1.3 billion. Group life premium issued totaled $380 million, with the new face amount of group life insurance sold at $46 billion. Total group life insurance in-force increased 12 percent to $765 billion. Membership in MetLife's managed care programs reached a new high of 2.9 million people in 1992.
 Total pension sales exceeded $9 billion, one of the company's best years ever. Responding to concerns about the types of products that have traditionally dominated this market, MetLife developed new features for guaranteed interest contracts and individual annuities that allow for more choices and greater diversification for investors. The Met- Managed GIC, a guaranteed interest contract alternative, has been well- received, with sales in excess of $6 billion since its introduction in 1990.
 MetLife's investment operations continued to pump nearly $50 million each day into the national economy, creating thousands of new jobs and sharpening America's competitiveness. The inherent strength of MetLife's investment portfolios was underscored in 1992, as the company's percentage of non-performing assets remained small (1.84 percent of total assets).
 The company's international operations continued their growth in 1992. Total sales reached a record $1 billion, an increase of 23 percent over 1991. MetLife also entered two new markets -- Mexico and Portugal.
 "MetLife marks its 125th anniversary in 1993," said Mr. Schwartz. "We are proud of our accomplishments in 1992, and of the values and traditions we carry forward from past generations of MetLife people," he said.
 -0- 3/17/93
 /CONTACT: Charles Sahner, 212-578-4132, or Timothy Ring, 212-578-6252, both of MetLife/


CO: Metropolitan Life Insurance Company ST: New York IN: FIN SU: ERN

CK-PS -- NY053 -- 7059 03/17/93 12:49 EST
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Date:Mar 17, 1993
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