July 31 (Reuters) - MetLife ( MET ) reported a

better-than-expected second-quarter profit on Wednesday, driven

by strong performance in its group benefits unit.

Adjusted earnings in MetLife's ( MET ) flagship segment, group

benefits, which includes employee insurance, rose to $533

million, marking a 43% increase from the previous year driven by

strong underwriting, particularly in life insurance.

MetLife's ( MET ) net investment income rose to $5.21 billion in the

three months ended June 30, compared with $5.07 billion in the

year-ago quarter.

The insurance industry, which invests a chunk of cash

collected as premiums into low-risk assets and market-linked

securities, has logged broad gains in investment returns as

higher yields lift their fixed-income portfolios.

Meanwhile, the broader stock markets also rallied in the

second quarter helped by gains in mega-cap technology stocks.

Premiums, fees and other revenues remained flat at $13.55

billion in the second quarter, versus $13.59 billion a year

earlier.

MetLife ( MET ) posted adjusted net income of $1.63 billion, or

$2.28 per share, in the second quarter.

Analysts had expected a profit of $2.10 per share, according

to LSEG data.