MetLife (MET) risk factors: FY2025 10-K

1. We May Face Difficult Economic Conditions

Read these in Item 1A · See the changes

1. We May Not Meet Our Liquidity Needs, Access Capital, or May Face Significantly Increased Cost of Capital Due to Adverse Capital and Credit Market Conditions
2. We May Be Unable to Access Our Credit Facility, Reducing Our Liquidity and Leading to Downgrades in Our Credit and Financial Strength Ratings
3. We May Lose Business Due to a Downgrade or a Potential Downgrade in Our Financial Strength or Credit Ratings
4. We May Not Find Available, Affordable or Adequate Reinsurance to Protect Us Against Losses
5. Our Statutory Life Insurance Reserve Financings Costs May Increase, and We May Find Limited Market Capacity for New Financings

Read these in Item 1A · See the changes

1. Changes in Laws or Regulation, or in Supervisory and Enforcement Policies, May Reduce Our Profitability, Limit Our Growth, or Otherwise Adversely Affect Us
2. Governments or Others May Increase our Taxes by Changing or Re-Interpreting Tax Laws, Making Some of Our Products Less Attractive to Consumers
3. We May Face Increasing Litigation and Regulatory Investigations
4. Our Efforts to Enhance the Sustainability of our Businesses May Not Meet Investors', Regulators' or Customers' Expectationsreworded

Read these in Item 1A · See the changes

1. We May Not be Able to Pay Dividends or Repurchase Our Stock Due to Legal and Regulatory Restrictions or Cash Buffer Needs
2. Our Subsidiaries May be Unable to Pay Dividends, a Major Component of Holding Company Free Cash Flow

Read these in Item 1A · See the changes

1. We May Face Defaults, Downgrades, Volatility or Other Events That Adversely Affect the Investments We Hold
2. We May Have Difficulty Selling Holdings in Our Investment Portfolio or in Our Securities Lending Program in a Timely Manner to Realize Their Full Value
3. We May Have to Pledge Collateral or Make Payments in Derivatives and Reinsurance Transactionsreworded
4. We May Change Our Securities and Investments Valuation, or Take Allowances and Impairments on Our Investments, or Change Our Methodologies, Estimations, and Assumptions

Read these in Item 1A · See the changes

1. Our Actual Claims or Other Results May Differ From Our Estimates, Assumptions, or Models
2. We May Face a Variety of Political, Legal, Operational, Economic and Other Risks Globally
3. We May Face Competition for Business
4. We Face Technological Changes That Present New and Intensified Challenges and May Fail to Foresee or Adapt to These Changes
5. We May Face Catastrophes That Affect Liabilities for Policyholder Claims and Reinsurance Availability
6. We May Face Direct or Indirect Effects of Climate Change or Responses to It
7. We May Need to Fund Deficiencies in Our Closed Block, and May Not Re-Allocate Closed Block Assets
8. We May Be Required to Recognize an Impairment of Our Goodwill or Other Long-Lived Assets or to Establish a Valuation Allowance Against Our Deferred Income Tax Assets
9. We May Be Required to Impair VODA, VOBA or VOCRAreworded
10. We May Face Volatility, Higher Risk Management Costs, and Increased Counterparty Risk Due to Guarantees Within Certain of Our Products

Read these in Item 1A · See the changes

1. We May Fail to Protect the Confidentiality, Integrity or Availability of Our Systems or Data, Including As a Result of a Failure in Our Cybersecurity or Other Information Security Systems or Our Disaster Recovery Plans or Those of Our VendorsCybersecurity
2. We May Face Changes in Accounting Standards

Read these in Item 1A · See the changes

1. We May Have Difficulty in or Complications from Marketing and Distributing Our Products
2. We May Change Our Pension and Other Postretirement Benefit Plans Assumptions
3. We May be Unable to Protect Our Intellectual Property and May Face Infringement Claims

Read these in Item 1A · See the changes

1. We May Face Difficulties, Unforeseen Liabilities, Asset Impairments or Rating Actions from Business Acquisitions or Integrating and Managing Growth of Such Businesses, Dispositions of Businesses, or Legal Entity Reorganizations
2. We May Face Risks Related to Our Separation from Brighthouse

Read these in Item 1A · See the changes

1. MetLife, Inc.’s Board of Directors May Influence the Outcome of Stockholder Votes on Matters Due to the MetLife Policyholder Trust
2. State or Federal Laws, or MetLife, Inc.’s Certificate of Incorporation and By-Laws, May Delay, Deter or Prevent Takeovers and Business Combinations

Read these in Item 1A · See the changes