MetLife fourth-quarter profit falls

MetLife Inc s fourth-quarter earnings fell 70 per cent because of investment losses, but its operating profit beat Wall Street expectations by a penny on Tuesday as the credit market began to thaw boosting revenues at the biggest US life insurer. The company also confirmed it was in talks to buy American International Group Inc s American Life Insurance Company unit, but no agreement had been reached. The two US insurers were in talks on a deal that could value ALICO at between $14 billion and $15 billion, according to a source, Reuters reported last month. MetLife management has said in the ...

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