MetLife has announced in January planning for selling large portion of its US insurance unit. But the move has been suspended following imposition of designation as SIFI by FSOC. However, the FSOC move has been declared unlawful by a Washington court which paves the way for MetLife to go with its breakup planning.
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The US Department of Labor has proposed a fiduciary rule which is believed to cause increase cost for brokerage business. The proposed rule is now being reviewed by the Office of Management and Budget. But fearing enactment of tougher rules, Metlife has announced on Monday selling its US adviser unit to MassMutual for $300 million.
MetLife Inc suffered 43 percent drop in profit for the third quarter due to bleak investment results and tax costs associated with the UK subsidiary which impacted the financial performance of the largest life insurer in the US.
Blackstone Group LP, the world's largest private equity firm is expected to be the next firm that will acquire the 11,000 apartment complex in Manhattan's Stuyvesant Town. Although the deal is not official yet, news has been circulating that the complex will be acquired by the firm for a value around $5.3 billion.
Warren Buffett on Saturday rejected the idea that Berkshire Hathaway Inc, a sprawling conglomerate he has built over 50 years, has grown so big that it is now too big to fail and requires tighter regulatory oversight.
MetLife Inc (MET.N) on Tuesday sued U.S. regulators over a decision to subject the insurer to tougher oversight because it harbors enough risk to endanger the financial system if the next crisis hits.
Canada-based firm Enbridge Inc has announced an agreement to pour in $200 million in the Keechi Wind Project in Colorado, Texas, which is expected to be completed in early 2015.
Citing sources, Bloomberg reported that US-based life insurance firm MetLife Inc is talking exclusively with AMMB Holdings for the acquisition of its Malaysian life insurance businesses.
Fidelity and Guaranty Life has raised $165.75 million in its New York initial public offering. The Harbinger-backed insurer sold 9.75 million shares priced at $17 per share.
Sources interviewed by Bloomberg said Citigroup Inc is planning to give distribution rights to sell its products in Asia to at least two insurance firms.
U.S. Senator John Kerry and his wife intend to divest holdings in dozens of companies to avoid conflicts of interest if he is confirmed as U.S. secretary of state
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