PCG purchased PineBridge from American Worldwide Group Inc. for $500 million in 2010 because the insurer was promoting belongings to repay a authorities bailout. PineBridge’s shoppers embrace pension plans, insurance coverage firms, official establishments, personal banks, advisers and intermediaries.
A purchase order of PineBridge’s non-China belongings may enhance MetLife’s roughly $175 billion of present consumer funding belongings by greater than 50%, Bloomberg Intelligence analyst Jeffrey Flynn wrote in a observe on Monday.
The deal worth would align with MetLife’s concentrate on much less capital-intensive areas to help its rising return on fairness, Flynn stated.
MetLife shares had been down 0.1% to $84.75 at 4:45 p.m. Tuesday in New York. They’ve climbed roughly 26% this yr, giving the corporate a market worth of about $59 billion.
(Credit score: Bloomberg)
Copyright 2024 Bloomberg. All rights reserved. This materials is probably not revealed, broadcast, rewritten, or redistributed.
