Operating earnings at the Americas unit, the insurer’s largest, fell 16 percent to $1.23 billion compared with the same period a year earlier. The contribution from the retail unit decreased about 19 percent to $582 million as property-casualty margins worsened and investments hurt results. Earnings from the business selling workplace coverage slipped to $214 million from $238 million a year earlier.

Steigerwalt, Morris

Also in the Americas, the corporate-benefit funding division, which offers pension and retirement products, posted profit of $286 million, down from $360 million. Operating income at the Latin America business slipped about 1 percent to $150 million.

Eric Steigerwalt will lead the retail business designated for separation, the insurer said last month. Maria Morris, executive vice president and head of global employee benefits, was named interim head of the U.S. businesses that MetLife is keeping.

Profit at the Europe, Middle East and Africa businesses, led by Michel Khalaf, fell to $54 million, compared with $64 million a year earlier. The Asia region, overseen by Christopher Townsend, reported that operating income slumped 15 percent to $290 million.

MetLife lawyers go to court on Feb. 10 against the U.S. panel that deemed it systemically important. The insurer is the one of four non-bank SIFIs to challenge the designation in federal court.

AIG, GE

General Electric Co.’s finance unit has been selling assets in an attempt to escape the risk tag. AIG Hancock has been facing pressure from activist investor Carl Icahn to boost returns or break up the insurer. He announced a plan in January to return $25 billion to shareholders over the next two years and offer a stake in AIG’s mortgage insurer to the public in a step toward a complete exit of that business.

Prudential Financial Inc., the second-largest U.S. life insurer, said last month that it is comfortable with its business mix. The Newark, New Jersey-based company is scheduled for report fourth-quarter results on Feb. 10.

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