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    Nick Anido • Wells Fargo & Company

    Nick Anido's questions to MetLife Inc (MET) leadership

    Nick Anido's questions to MetLife Inc (MET) leadership • Q1 2025

    Question

    Nick Anido asked for the outlook on Group Life mortality for the remainder of the year, given its strong performance, and requested an update on the status of the Chariot Re initiative.

    Answer

    Executive Ramy Tadros stated that with a favorable Q1 now complete, simple arithmetic suggests the full-year Group Life mortality ratio will finish towards the lower end of the 84%-89% range, even if no further favorability occurs. CEO Michel Khalaf confirmed that the launch of Chariot Re is on track for mid-year, and they are moving quickly with their co-sponsor, Atlantic, to fully capitalize and operationalize the reinsurance company.

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    Nick Anido's questions to Lincoln National Corp (LNC) leadership

    Nick Anido's questions to Lincoln National Corp (LNC) leadership • Q4 2024

    Question

    Nick Anido asked for an outlook on the use of flow reinsurance with the new Bermuda affiliate and its impact on fixed annuity sales. He also questioned whether the 8%+ margin guidance for the Group business is driven by structural industry changes or internal company actions.

    Answer

    CFO Chris Neczypor and CEO Ellen Cooper responded. They explained that the Bermuda affiliate allows for greater capital efficiency and optimization between internal and external reinsurance. Regarding the Group margin, Neczypor clarified the 8%+ target is for 2026. He attributed 2024's strong performance to both a favorable macro environment (about 100 bps of margin) and significant internal execution, which gives them confidence in achieving future targets.

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