MetLife Inc (MET.N) said on Wednesday the worst of the pandemic was behind it after the U.S. insurer beat Wall Street estimates for first-quarter profit, with large investment gains cushioning the hit from coronavirus-related claims. The New York-based insurer"s net investment income jumped nearly 74% to $5.31 billion on strong returns from private-equity investments. MetLife saw rising payouts from deaths related to COVID-19, especially in the United States and Latin America. But those were offset by lower costs from annuities and long-term care policies, also linked to coronavirus-related deaths. Global life insurers are taking steps to curb payouts stemming from the health crisis, including for long-term health consequences that are not yet fully understood. MetLife Inc (MET.N) said on Wednesday the worst of the pandemic was behind it after the U.S. insurer beat Wall Street estimates for first-quarter profit, with large investment gains cushioning the hit from coronavirus-related claims. The New York-based insurer"s net investment income jumped nearly 74% to $5.31 billion on strong returns from private-equity investments. MetLife saw rising payouts from deaths related to COVID-19, especially in the United States and Latin America. But those were offset by lower costs from annuities and long-term care policies, also linked to coronavirus-related deaths. Global life insurers are taking steps to curb payouts stemming from the health crisis, including for long-term health consequences that are not yet fully understood. "We believe the worst impact of the pandemic on our business performance is behind us, and we are well-positioned to create additional value for our stakeholders in the future," Chief Executive Officer Michel Khalaf said in a statement. Rival Prudential Financial Inc (PRU.N) on Tuesday posted profits that topped analysts" estimates by nearly 50% for the first quarter, boosted by record results in its asset management and retirement business. read more MetLife said it booked $2.24 billion in losses on its hedging strategy, which is designed to offset the hit from declining interest rates. The benchmark 10-year Treasury yield rose nearly 83 basis points to 1.7460% in the first quarter. The company reported adjusted earnings of $2 billion, or $2.20 per share, for the first quarter ended March 31, from $1.45 billion, or $1.58 per share, a year earlier.Analysts on average had expected a profit of $1.53 per share, according to IBES data from Refinitiv.