Entries tagged "MetLife Inc."
American International Group Inc. (NYSE:AIG) is apparently suspending the sale of its American Life Insurance unit and is considering taking it public next year.
The 800-pound gorilla of the U.S. life insurance sector -- Metropolitan Life Insurance Co.-- reportedly tried to add more heft when it recently approached Hartford Financial Services Group Inc., according to The Wall Street Journal. Hartford apparently shunned MetLife, but had the two sides agreed to a union and regulators approved the marriage, the merger would have given MetLife -- the largest life insurer in the U.S. already -- a tighter hold in the American life insurance market as well as more girth in the property insurance area. ...
The Federal Reserve has been feeling very generous these days in light of the financial meltdown. First, it bailed out an investment bank, then an insurer, and then the entire financial system with a big $700 billion check. On Wednesday, the Fed joined hands with the European Central Bank, the Bank of England, the Bank of Canada, the Swedish Riksbank and the Swiss National Bank on a global half-point rate cut. But as investors remain skittish and the credit markets in a freeze, the Fed can not do enough to cage the bears terrorizing Wall Street. The Dow Jones...
Exemplifying the wackiness in the world of finance right now, MetLife Inc. has gone from roadkill to a predator in the course of a few days. Last week Senate Majority Leader Harry Reid, D-Nev., sent shivers through the markets when he made a statement, which he later retracted, that a major insurance company was on "the verge of going bankrupt." MetLife responded saying it is "financially sound. ... MetLife is fully able to meet all its obligations." Now, despite reducing its third-quarter earnings Tuesday, MetLife still believes it can pay its bills and possibly pull off a deal or two....
With executive changes at banks and restructuring news from other industries as a backdrop, the markets saw a deep chill on Monday as investors sold off holdings in midday trading. Dealmaking, which usually is strong on Monday morning, was only brisk and not enough to spur any upsurge in the markets as the Dow fell 151.11, or 1.20%, to 12,488.10 while the Nasdaq declined 32.24, or 1.28%, to 2,490.92. Let's take a closer look at the performance of Deal Stocks in Monday midday trading:...
