MetLife closing in on AIG life business
Reports out of the US have named MetLife as the front-running bidder for American International Group’s (AIG's) life insurance business, Alico.
According to the widely-based reports, the transaction would see MetLife pay about $14 billion to $15 billion for the AIG business.
It is expected that AIG would use the proceeds of the transaction to pay back bailout money to the US Government.
The Australian arm of AIG is unaffected by the forecast US transaction.
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Mike Taylor
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