(Reuters) - MetLife Inc
The largest life insurer in the United States, like its peers, is heavily exposed to persistently low interest rates. But it has long had a substantial derivatives program designed to smooth out that risk.
Derivative net losses during the quarter was $1.2 billion, compared with a profit of $1.3 billion a year earlier, the company said.
Net profit fell to $471 billion, or 43 cents per share, from $2.26 billion, or $2.12 per share, a year earlier.
(Reporting by Avik Das in Bangalore; Editing by Saumyadeb Chakrabarty)
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