Metlife confirms pursuit of AIG Life
US-based insurer Metlife has confirmed that it is in talks to purchase a key business unit from troubled insurer American International Group (AIG).
Reports in late January suggested that Metlife was pursuing AIG’s American International Life Insurance Company, and Metlife today confirmed talks were well progressed although there was no guarantee an agreement would be reached.
Metlife this week announced a return to profitability after three-quarters of losses and said it was in a very good position “to pursue acquisitions that are strategic and would accelerate our long-term growth”.
The discussions between Metlife and AIG are understood to be unconnected with AIG’s Australian operations.
AUTHOR
Mike Taylor
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