MetLife posted a first-quarter loss, as declining revenue from premiums and losses on investments pushed the life insurance company's results below Wall Street's expectations.

New York-based MetLife lost $574 million, or 71 cents per share, in the first three months of the year. Last year, MetLife made a profit of $615 million, or 84 cents per share.

Sales dropped 12 per cent to $10.2 billion, almost $2 billion short of Wall Street analysts' expectations for $11.9 billion in revenue. Revenue from premiums, fees and other revenue slipped two per cent.

Like other insurers, MetLife has been hurt by stock market declines in recent months. The company said its loss on investments widened to $618 million, taking into account taxes.

Thomson Reuters says analysts were looking for a per-share profit of 34 cents. Instead, MetLife reported operating income of 20 cents per share.

The company paid out $6.6 billion in policyholder benefits and claims in the quarter, essentially flat from a year ago.