Life insurer MetLife, which has operations in Bloomfield, said its first-quarter profits rose nearly 36 percent on higher derivative gains and lower policyholder dividend and interest payments.
MetLife reported net income of $1.3 billion, or $1.14 per share, up from $956 million, or 87 cents, in the first quarter of 2012.
The increase in profits came despite a 3.4 percent drop in revenue, from $17.68 billion to $17.09 billion. The company overcame the revenue decrease by cutting total expenses for the quarter by $1.18 billion
