The company reported that ahead of its investor day it was introducing the five-year "New Frontier" program targeting returns of double-digit adjusted earnings per share (EPS) growth, 15% to 17% adjusted return on equity, a one-percentage-point cut in direct expense ratio, and free cash flow of $25 billion.

"Building on that strong progress, today we introduce our New Frontier strategy with commitments that quantify MetLife’s superior value proposition." Khalaf said. "We operate in highly attractive markets, with deep competitive moats and strong tailwinds.