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IN BRIEF/INSURANCE

MetLife Profit Rises 15% on Cost Cuts

May 08, 2002|Bloomberg News

MetLife Inc. said net income rose 15% in the first quarter because of cost cuts and higher profit from group life and disability policies.

Net income climbed to $329million, or 44 cents a share. Revenue increased 2% to $8.09billion.

Shares of New York-based MetLife fell $2.29, or 6.7%, to $31.86 on the New York Stock Exchange.

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