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Metlife set to buy Alico

Metlife is set to acquire AIG subsidiary Alico for over £10bn.

The deal will comprise £4.4bn in cash and about £5.7bn in Metlife equity securities. Metlife has been circling Alico for months. Money Marketing understands previous deals have fallen through due to price.

Fixed-term annuity provider Living Time’s products are underwritten by Alico.

Hargreaves Lansdown head of pensions research Tom McPhail says: “Living Time have been held back by their association to AIG. A lot of IFAs will look at this as a resolution of an issue that has stopped them writing business with them.”

Metlife says the combination of the businesses will create a “global life insurance and emp-loyee benefits powerhouse”.

Upon completion of the transaction, Metlife, the biggest life insurer in the US and Mex-ico, will become a leading competitor in Japan and boost its position in Europe.


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Aifa draws up guide and warns that only three platforms will survive

Aifa is developing a platform due-diligence guide for IFAs as it warns that some wraps will not survive. Director general Chris Cummings says the guide is aimed at ensuring members ask the right questions on factors such as financial strength before choosing a platform. He believes that the platform sector may eventually have only three […]

Auto enrolment – so far so good?

Jamie Clark – Business Development Manager The recent report from the Pensions Policy Institute demonstrates the sheer scale of auto-enrolment so far and what we can expect in the future. We’ve pulled out the key information to save you reading the full report. Auto enrolment in numbers Sources: Pensions Policy Institute, The Future Book: Unravelling […]


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