Thursday, January 29, 2009
Henrikson Sees Opportunity as Bankers Call on MetLife
MetLife Inc.’s Robert Henrikson, chief executive officer of the biggest U.S. life insurer, said bankers are “knocking on our door” pitching deals as the company seeks to add customers beyond its home market... MetLife, which bolstered its finances with a $2.3 billion share sale in October, is a favorite pick by analysts including Sanford C. Bernstein & Co.’s Suneet Kamath to acquire businesses from distressed competitors as investment losses deplete their capital. The life insurance industry may undergo “significant” consolidation after losing $77 billion in surplus last year, according to consulting firm Conning & Co.
“We would not be surprised to see MetLife pursue a transformational deal in 2009,” Kamath said in a Jan. 16 research note. “MetLife is likely the best-positioned to pursue merger and acquisition opportunities.” He said the insurer may bid for units being auctioned by American International Group Inc. as that firm raises cash to repay a government loan...
Chief Financial Officer William Wheeler said in September MetLife is “very aggressively” seeking expansion outside of the U.S...
Bloomberg: Henrikson Sees Opportunity as Bankers Call on MetLife
“We would not be surprised to see MetLife pursue a transformational deal in 2009,” Kamath said in a Jan. 16 research note. “MetLife is likely the best-positioned to pursue merger and acquisition opportunities.” He said the insurer may bid for units being auctioned by American International Group Inc. as that firm raises cash to repay a government loan...
Chief Financial Officer William Wheeler said in September MetLife is “very aggressively” seeking expansion outside of the U.S...
Bloomberg: Henrikson Sees Opportunity as Bankers Call on MetLife
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