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MetLife in Talks to Acquire AIG's Alico, Deal Not Certain

Source: Dow Jones

Posted on 03 Feb 2010

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MetLife Inc. is talking to American International Group Inc. (AIG) about buying its American Life Insurance Co. (Alico), but a deal is not certain, said MetLife Chief Executive Executive C. Robert Henrikson Wednesday.

"MetLife does not need to enter into any [merger and acquisition] transaction to meet our business objectives," he said, speaking during the life insurer's earnings conference call. "Any transaction we undertake would be accretive and financially attractive to our shareholders."

"In other words, our acquisition criteria have not changed."

Henriskson's comments came at the beginning of the call, and he said he would not comment further on the negotiations, which the company confirmed Tuesday.