Letter from Our CEO Michel Khalaf

Our reason for being, who we are, and what we stand for are represented by this purpose, guiding us during times of uncertainty and allowing us to make a greater difference through our sustainability efforts.

Our Sustainability Commitments

A confident future requires a resilient and thriving environment and a more inclusive and equitable society—and we are determined to be part of the solution.

Our 2030 Diversity, Equity and Inclusion (DEI) Commitments consider how our investments, products and services, supply chain, and volunteer and community efforts address the needs of underserved and underrepresented communities. We are also committed to building on our long-standing history of environmental stewardship for current and future generations.

Our path forward, which we track and report on, is ambitious, and we remain confident in delivering on our long-term sustainability mission through the commitment of our people, and the strength of our products, services, and investments.

Our Progress

We bring our purpose to life by creating a virtuous circle of shared value for all our stakeholders—showing that when we deliver for them, we not only benefit our business, but also the world around us. We are constantly adapting to meet the needs and expectations of our stakeholders, and we are strengthening our DEI and environmental commitments to address critical challenges that they face.

For our colleagues
Our employee value proposition (EVP), “All Together Possible,” inspires our people to foster a purpose-driven, inclusive culture. We are committed to bringing different perspectives together through DEI, launching programs and initiatives to create a culture of care and inclusion. This work has led us to maintain above-median results on global officer gender diversity and top-quartile results on ethnic and racial diversity for officers in the U.S.

For our customers
We strive to build enduring relationships with our customers to meet their evolving needs and to secure their financial futures through the products and services we offer. Sustainability considerations are integral to our business and lead MetLife to create holistic solutions for our customers’ diverse needs and well-being. One example is 360Health, which helps customers address their mental, physical, financial, and social health. We continued to expand the offering throughout Asia in 2022, with free virtual doctor consultations among the most popular value-added service. The success of 360Health has earned it numerous international awards.

For our shareholders
By energizing our people to make progress against our Next Horizon strategy, we deliver more for our customers, and drive long-term value for our shareholders. We have a duty to manage risk effectively and seek out responsible investments that are diverse, stable, secure, and offer competitive, risk-adjusted returns. By year-end 2022, responsible investments managed by MetLife Investment Management totaled over $77 billion, contributing to our strong free cash flow, total shareholder return (TSR) and return on equity (ROE). 

For our communities
As MetLife's strength, scale and resilience grow, so too does our role in communities. MetLife Foundation provides support through its Economic Inclusion, Financial Health and Resilient Communities portfolios, and awarded $37.9 million in grants during the past year. And our colleagues offered their time, talent and passion for their communities, dedicating nearly 110,000 hours volunteering where they live and work.

It’s this progress that shows how MetLife is a force for good in the world. Even during the most challenging times, our virtuous circle remains strong. The COVID-19 pandemic was no exception and, as it persisted in 2022, claims totaled approximately $800 million.

Looking to the Future

Expectations across our stakeholder groups are rising—and we are raising the bar to meet and even exceed these expectations. We are in a position of strength, and the actions detailed in this year’s report are the foundation we’ll build upon to continue driving meaningful change.

You will read more about our progress against our commitments, our ongoing efforts to foster a more inclusive and diverse workplace, the innovations we continue to make to our products and services to give customers confidence, and how our work is creating value for our shareholders.

Living our purpose is how we will fulfill our sustainability commitments, and keep the promises we make to our stakeholders, something that we have always done since selling our first insurance policy in 1868.

MICHEL A. KHALAF
PRESIDENT AND CHIEF EXECUTIVE OFFICER
METLIFE, INC.