MetLife

RANK46

Like many insurers, MetLife felt the impact of the coronavirus pandemic on a financial level. Claims and payouts for life insurance policyholders rose as millions around the world died from COVID-19; a decrease in claims related to dental, property, and auto insurance, with customers stuck at home, wasn’t enough to counter the financial impact of those tragedies. Overall, revenues fell 2.6% to $67.8 billion, while profits dropped 8.3% from 2019. But if any business takes the long view, it’s insurance; in fact, at 153 years old, MetLife is one of the rare companies functioning today that also weathered the 1918 flu pandemic. CEO Michel Khalaf now says, “The worst impact of the pandemic on our business performance is behind us.”