Thursday, September 30, 2010

Prudential, MetLife Are Japan Rivals as AIG Retreats

Prudential, which entered Japan in 1987, agreed to buy AIG’s Star Life Insurance and Edison Life Insurance units for $4.8 billion, AIG said in a statement today. MetLife expects to complete a $15.5 billion deal for American Life Insurance Co., known as Alico, on Nov. 1. Both firms sidestepped the worst of the financial crisis and are expanding in the world’s second- largest life-insurance market as bailed-out rivals retreat.

Read on: Prudential, MetLife Are Japan Rivals as AIG Retreats
Source: www.businessweek.com

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