NEW YORK – MetLife Inc. (NYSE: MET) posted a second-quarter profit of $915 million, a decrease of 18.95 percent from the year-ago period’s $1.23 billion, despite revenue that rose 3.77 percent to a record $13.71 billion. Earnings per diluted common share fell to $1.26 from the 2007 second quarter’s $1.48.

Excluding net investment income that fell 5.19 percent to $4.58 billion, and pre-tax investment losses that fell 51.46 percent to $362 million, gross revenue for the quarter ended June 30 amounted to $9.49 billion.

“During the second quarter of 2008, MetLife achieved a new record in top-line results, with premiums, fees and other revenues reaching $9.5 billion,” C. Robert Henrikson, MetLife’s chairman, president and CEO, said Tuesday in an after-market statement.

“While our earnings this quarter were impacted by several factors – including the continuing decline in the equity markets and higher catastrophes in our homeowners’ business – our business fundamentals continue to be strong. We generated solid earnings growth in [the international segment] … and continued to execute on our business plans during the quarter.”

Highlights of the period also included the company’s announcement of the planned spinoff of the Reinsurance Group of America Inc.

MetLife repurchased about 900,000 shares of common stock in the quarter ended June 30, bringing its total buybacks in the first half of 2008 to 21.3 million shares, or $1.25 billion. That left the company with more than $1.26 billion in unexercised share-repurchase authorizations.

“Given the performance of the equity markets and our results this quarter, we are revising our previously announced full year 2008 operating earnings guidance of $5.90 to $6.20 per diluted common share to $5.70 to $5.90 per diluted common share.” Henrikson said, adding: “We are pleased with the strong revenue growth we achieved in the first half of 2008, and we continue to see many growth opportunities ahead, where our financial strength, industry leadership and diverse offerings will serve us well.”

MetLife Inc. (NYSE: MET) is a provider of insurance and financial services in the United States, Latin America, Europe and the Asia-Pacific region. Its Rhode Island-based MetLife Home & Auto division employs more than 2,000 people at its offices in Warwick. Additional information is available at www.MetLife.com.