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NEW YORK - MetLife Inc. reports quarterly results after the market closes Thursday, and investors will be anxious to see whether the improvement in the financial markets during the quarter will translate to better results in the insurer's investment portfolio.
Analysts are expecting the New York-based insurer to report third-quarter earnings of 87 cents per share on revenue of $12.25 billion, according to a survey by Thomson Reuters. In the third quarter last year, the insurer earned 83 cents per share on revenue of $13.38 billion.
The turmoil in the stock market at the end of last year and the beginning of 2009 saddled MetLife and other insurers with hefty investment losses. During the second quarter, MetLife's net realized investment losses totaled $2.56 billion, eating into earnings by $3.11 a share.
But the benchmark Standard & Poor's 500 index rose nearly 15 percent during the third quarter, compared with a nearly 9 percent drop a year earlier.
Other insurers have already reported improving trends in their investment portfolio.
Last week, property and casualty insurer Travelers Cos. said its net investment income rose 5 percent to $616 million, helping to boost its quarterly profit.
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