MET
MetLife, Inc.
Is MET Halal?
Conventional insurer and retirement-products provider; identifiable fixed-income investment assets are 58.65% of total assets and the core business screen fails.
What You Should Know
MetLife's March 31, 2026 Form 10-Q reports $743,211M total assets, $20,291M of selected interest-bearing debt, $22,687M cash, $54,131M of receivables plus accrued investment income and $19,074M quarterly revenue. ZakatInvest calculates debt/assets 2.73%, cash plus identifiable interest-bearing securities/assets 58.65%, receivables plus cash/assets 10.34%, premiums plus universal-life policy fees/revenue 70.58% and net investment income/revenue 28.07%. The investment-income figure is a conservative upper bound because the filing's net investment-income line includes multiple asset types; it is not presented as a pure interest-only number.
⚠️ Concerns
- •Core business is conventional life, health, disability and annuity insurance, raising gharar and risk-transfer concerns
- •Fixed-maturity securities, mortgage loans, policy loans and short-term investments total $413,239M in the selected liquidity proxy
- •Net investment income was $5,355M, or 28.07% of quarterly revenue, but the filing does not isolate pure interest income
- •Annuity, pension risk-transfer and stable-value products use guaranteed or formula-based crediting features
- •No takaful mutual-risk sleeve is disclosed
- •Insurance, investment, reinsurance, policyholder, privacy and regulatory conduct remain ongoing diligence topics
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
20,291 / 743,211
435,926 / 743,211
76,818 / 743,211
5,355 / 19,074
- Financial
- Fails
- Overall
- Fails
Debt/assets are 2.73%, liquidity using cash plus identifiable interest-bearing securities is 58.65%, receivables plus cash are 10.34% and the conservative net investment-income proxy is 28.07%. Liquidity and income exceed the examined FTSE limits; conventional insurance independently fails the business screen.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 2.73% and receivables plus cash are 10.34%, but identifiable liquidity is 58.65%, above the examined MSCI total-assets limit. The income proxy is also not a pure-interest measure; this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Identifiable fixed-income liquidity is 58.65% of assets, above the examined Malaysia SAC financial limit. This is a contextual calculation against SAC ratios, not an official classification of a U.S.-listed security; conventional insurance also fails the business screen.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed historical market-cap series is not stored, but a different denominator cannot cure the failed conventional-insurance business screen or the high asset-based liquidity ratio.
Business-activity disclosure
MetLife reports Group Benefits, Retirement and Income Solutions, Asia, Latin America and EMEA segments. Its core products include life, dental, disability, accident and health insurance, annuities, pension risk transfer and stable-value products. Premiums plus universal life and investment-type product policy fees were $13,463 million, or 70.58% of quarterly revenue; conventional insurance is the primary qualitative screen concern.
Limitation: The filing reports premiums, product fees, net investment income and broad investment categories but does not classify each contract or return by school-specific Sharia treatment. The insurance-product proxy is disclosed evidence of the core activity, not a universal prohibited-revenue rule for every school or necessity-based insurance exception.
Purification
MetLife fails at the issuer's core conventional-insurance business-activity level. Net investment income is used as a conservative upper bound for the financial screen, not as a percentage that can be donated to make continued ownership compliant.
Inputs, assumptions and primary sources
- Inputs use MetLife's March 31, 2026 Form 10-Q; amounts are USD millions.
- Debt uses $404 million of short-term debt, $14,445 million of long-term debt, $299 million of collateral financing arrangements and $5,143 million of subordinated debt securities. Notes issued by collateralized financing entities are excluded from the issuer debt proxy because they are matched VIE-specific financing.
- Cash uses $22,687 million of cash and cash equivalents.
- Interest-bearing securities use $316,110 million of fixed-maturity securities available-for-sale, $83,726 million of mortgage loans, $8,455 million of policy loans and $4,948 million of short-term investments. Equity securities, unit-linked/FVO securities, real estate, limited partnerships and other invested assets are not silently added.
- Receivables use $50,335 million of premiums, reinsurance and other receivables plus $3,796 million of accrued investment income; the latter is included in the broad receivables proxy and is not also counted in the securities numerator.
- Total quarterly revenue was $19,074 million: $12,120 million premiums, $1,343 million universal life and investment-type product policy fees, $5,355 million net investment income and $852 million other revenues, before investment and derivative gains/losses.
- Premiums plus universal life and investment-type product policy fees are a disclosed insurance-product proxy. Net investment income is a conservative upper bound for the income screen because MetLife reports multiple asset types in that line; no pure-interest percentage is asserted.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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