President and Chief Executive Officer - Michel Khalaf Chief Financial Officer and Head of MetLife Investment Management - John McCallion Treasurer and Head of Investor Relations - John Hall Operator: Ladies and gentlemen, thank you for standing by. Welcome to the MetLife Second Quarter 2026 Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. Before we get started, I refer you to the cautionary note about forward-looking statements in yesterday's earnings release and to risk factors discussed in MetLife's SEC filings.
With that, I will now turn the call over to John Hall, Treasurer and Head of Investor Relations. John Hall: Thank you, operator, and good morning, everyone. We appreciate you joining MetLife's Second Quarter 2026 Call.
Before we begin, I direct your attention to the information on non-GAAP measures on the Investor Relations section of metlife.com in our earnings release, in our quarterly financial supplement and in our earnings call and investor presentations, which you should review. On the call today are Michel Khalaf, President and Chief Executive Officer; and John McCallion, Chief Financial Officer and Head of MetLife Investment Management. Also available to participate in the discussion are other members of senior management.
This morning, John McCallion will speak to the earnings call presentation we released last night. The deck is available on our website. An appendix to the deck features disclosures, GAAP reconciliations and other information, which you should also review.
After prepared remarks, we will have a Q&A session, which will end promptly at the top of the hour. As a reminder, please limit yourself to 1 question and 1 follow-up. Michel Khalaf: Thank you, John, and good morning, everyone.
This was an outstanding quarter and another clear demonstration of how our New Frontier strategy is working as intended and how repeatable our model is built on a powerful recurring revenue base and the flexibility to invest where we see the most compelling global risk-adjusted opportunities. At the heart of our New Frontier strategy are 2 complementary earnings engines that contribute roughly equally One is capital light, where businesses like Group Benefits, Latin America, EMEA and Asset Management generate attractive fee and underwriting income with strong cash generation. The other is capital driven, where our retirement and spread-based businesses leverage our origination, investment and risk management capabilities to put our balance sheet to work at attractive risk-adjusted returns.
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