MetLife Expects $4.8 Billion In Excess Capital By Year-End

Executives at MetLife Inc. (MET) said they expected to have $4.8 billion in excess capital by the end of the year, and are likely to tell shareholders how they plan to deploy the funds after a board meeting in late October.

The company said it could use some of the funds to pay dividends, buy back shares, repurchase debt or make acquisitions. Their plan would require approval from the Federal Reserve.

Chief Financial Officer Bill Wheeler said the company also expected its operating units would be able to pass up "significant cash" to the holding company in 2012.

The approval of the Fed is required because MetLife's holding company operates under a bank charter. MetLife announced plans this month to sell its bank to limit the involvement of banking regulators as Washington begins to implement last year's Dodd-Frank financial regulation bill.

-By Erik Holm, Dow Jones Newswires; 212-416-2892; erik.holm@dowjones.com

MetLife (NYSE:MET)
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