Metlife (MET) risk factors, 2026 10-K

Other

1. 01Many of these risks are interrelated and could occur under similar business and economic conditions, and the occurrence of any of them may cause others to emerge or worsen. Such combinations could materially increase the severity of the cumulative or separate impact of these risks
2. 02We May Face Difficult Economic Conditions39% rewritten
3. 03Market conditions resulting in reductions in the value of assets we manage or lower transaction volume may have an adverse effect on the revenues and profitability of our institutional asset management services, which depend on fees related primarily to the value of assets under management (“AUM”)new
4. 04Some of our products and investments expose us to interest rate risks, including changes in the difference between short-term and long-term interest rates, which may reduce or eliminate our investment spread and net income
5. 05Political, Obligor and Counterparty Risks
6. 06Currency Exchange Rate Risks
7. 07Terrorism and Security Risks
8. 08We May Lose Business Due to a Downgrade or a Potential Downgrade in Our Financial Strength or Credit Ratings
9. 09We May Not Find Available, Affordable or Adequate Reinsurance to Protect Us Against Losses
10. 10Our Statutory Life Insurance Reserve Financings Costs May Increase, and We May Find Limited Market Capacity for New Financings

Regulatory and Legal Risks

1. 11We may incur costs to comply with laws and regulations and changes to or interpretations of these laws and regulations may increase our expenses and regulatory capital charges. Our failure to comply with our own policies or with regulatory requirements may harm our reputation or result in sanctions or legal claims
2. 12We May Face Increasing Litigation and Regulatory Investigations70% rewritten
3. 13Our Efforts to Enhance the Sustainability of our Businesses May Not Meet Investors', Regulators' or Customers' Expectationsnew
4. 14We May Not be Able to Pay Dividends or Repurchase Our Stock Due to Legal and Regulatory Restrictions or Cash Buffer Needs26% rewritten
5. 15Our Subsidiaries May be Unable to Pay Dividends, a Major Component of Holding Company Free Cash Flow
6. 16We May Face Defaults, Downgrades, Volatility or Other Events That Adversely Affect the Investments We Hold
7. 17We May Have to Pledge Collateral or Make Payments in Derivatives and Reinsurance Transactions

Business Risks

1. 18Our Actual Claims or Other Results May Differ From Our Estimates, Assumptions, or Models
2. 19If our actual claims experience is less favorable than the underlying underwriting, reserving, and other assumptions we used in establishing claim liabilities, we could be required to reduce value of business acquired (“VOBA”), increase our liabilities, or incur higher costs
3. 20We May Face a Variety of Political, Legal, Operational, Economic and Other Risks Globally
4. 21We May Face Competition for Business36% rewritten
5. 22We Face Technological Changes That Present New and Intensified Challenges and May Fail to Foresee or Adapt to These Changes21% rewritten
6. 23We May Face Catastrophes That Affect Liabilities for Policyholder Claims and Reinsurance Availability
7. 24We May Face Direct or Indirect Effects of Climate Change or Responses to It
8. 25We May Need to Fund Deficiencies in Our Closed Block, and May Not Re-Allocate Closed Block Assets
9. 26We may write down long-lived assets if we conclude we will be unable to recover their carrying amount
10. 27We May Be Required to Impair VODA, VOBA or VOCRA
11. 28We May Face Volatility, Higher Risk Management Costs, and Increased Counterparty Risk Due to Guarantees Within Certain of Our Products

Operational Risks

1. 29Our ERM and business continuity policies and procedures may not be sufficiently comprehensive and may not identify or adequately protect us from every risk to which we are exposed
2. 30Our Policies and Procedures May Be Insufficient to Protect Us From Operational Risks32% rewritten
3. 31If we are unable to obtain necessary and accurate information from our customers or their employees, we may be unable to provide or verify coverage and pay claims, or we may pay claims without sufficient documentation42% rewritten
4. 32We may fail to attract, motivate and retain employees, develop talent, and plan for management succession. Additionally, attrition and the loss of key personnel could cause a lapse in implementation of policies and procedures, adversely affect investment performance, and impair our ability to remain competitive
5. 33We May Face Changes in Accounting Standards
6. 34Our Associates May Take Excessive Risks
7. 35We May Have Difficulty in or Complications from Marketing and Distributing Our Products
8. 36We may be unable to prevent third parties from infringing on or misappropriating our intellectual property. We may incur litigation costs to enforce and protect it or to determine its scope or validity, and we may not be successful

Risks Related to Acquisitions, Dispositions or Other Structural Changes

1. 37We May Face Risks Related to Our Separation from Brighthouse62% rewritten
2. 38MetLife, Inc.’s Board of Directors May Influence the Outcome of Stockholder Votes on Matters Due to the MetLife Policyholder Trust