MetLife first-quarter profit rises on strong investment gains; launches $3 billion buyback

MetLife reported a nearly 5% rise in first-quarter profit, fueled by higher premiums and investment income, further announcing a $3 billion share buyback. Increased risk from cyber attacks and global events has sustained insurance spending, leading to higher premium prices. The insurer will also reinsure $10 billion in U.S. retail variable annuity reserves.