Pass Through Separate Accounts — Separate account assets
MetLife Pass Through Separate Accounts — Separate account assets increased by 13.3% to $128.70B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 13.3%, from $113.60B to $128.70B. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase indicates growth in variable product sales or positive market performance of underlying assets, leading to higher potential fee income. A decrease suggests net outflows, product maturity, or market depreciation of the underlying investment portfolios.
Detailed definition
This metric represents the total value of assets held in separate accounts where the investment risk is borne entirely b...
Peer comparison
Comparable to 'Separate Account Assets' or 'Unit-Linked Assets' reported by global life insurers, reflecting the size of the non-guaranteed asset base.
met_segment_pass_through_separate_accounts_separate_account_assetsHistorical Data
| Q4 '21 | Q4 '22 | Q4 '23 | Q4 '24 | Q4 '25 | |
|---|---|---|---|---|---|
| Value | $134.40B | $108.90B | $115.60B | $113.60B | $128.70B |
| QoQ Change | — | -19.0% | +6.2% | -1.7% | +13.3% |
| YoY Change | — | -19.0% | +6.2% | -1.7% | +13.3% |
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Frequently Asked Questions
- What is MetLife's pass through separate accounts — separate account assets?
- MetLife (MET) reported pass through separate accounts — separate account assets of $128.70B in Q4 2025.
- How has MetLife's pass through separate accounts — separate account assets changed year-over-year?
- MetLife's pass through separate accounts — separate account assets increased by 13.3% year-over-year, from $113.60B to $128.70B.
- What does pass through separate accounts — separate account assets mean?
- The total value of customer assets held in separate accounts where the customer, not the insurance company, takes on the investment risk.