(Reuters) -MetLife reported a rise in third-quarter profit on Wednesday, as the insurer raked in more income from investments.

Risk-averse insurers typically hold bond-heavy investment portfolios, which offer better yields in a volatile and uncertain market environment. The company said returns on private equity assets were also higher.

MetLife’s net investment income came in at $6.09 billion during the third quarter, up from $5.23 billion a year ago.

Its adjusted premiums, fees and other revenues remained flat over the year earlier.

Founded in 1868, MetLife is one of the largest U.S. life insurers, offering a range of insurance, annuities and employee benefit programs across more than 40 markets.

Adjusted earnings rose to $1.58 billion, or $2.37 per share, during the three months end

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