October 18, 2006 |
MetLife Inc. said Tuesday that it had agreed to sell two adjoining Manhattan apartment complexes for $5.4 billion in one of the largest U.S. real estate transactions on record. The company said it would sell Peter Cooper Village and Stuyvesant Town to a joint venture of New York real estate developer Tishman Speyer and the realty unit of BlackRock Inc.
May 27, 2002 |
MetLife Inc., the largest U.S. insurer, agreed to buy Mexico's state-owned Aseguradora Hidalgo for $962 million in cash, outbidding Spanish and Mexican insurers trying to expand in Latin America's biggest economy. The combined company would be Mexico's second-largest insurer. Mexico also received offers from Spain's Corporacion Mapfre and Grupo Financiero Inbursa, the banking and insurance company owned by Latin America's richest man, Mexican billionaire Carlos Slim.
April 24, 2012 |
Life insurance giant MetLife Inc. will shell out roughly $500 million in a multistate settlement of its alleged failure to pay death benefits to heirs, regulators said. MetLife, however, said it will pay out about $438 million over the next 17 years, with $188 million going to beneficiaries this year. Insurance regulators from dozens of states had accused the company and others of delaying or withholding life insurance payments to many of its policyholders. About $40 million of the total is likely to end up in California, said State Controller John Chiang, who waged a multiyear audit of life insurance companies' operations.
October 1, 2001 |
Following the trail blazed by State Farm Insurance Cos. and MetLife Inc., Allstate Corp. today became the latest insurer to open a bank, using its network of 2,000 California agents as a testing ground. Allstate Bank will offer checking accounts, certificates of deposit and mortgages through its California offices as well as nationwide via a Web site and a toll-free telephone number, said Kevin Slawin, the bank's chief executive. Northbrook, Ill.
October 10, 2008 |
New applications for unemployment benefits dropped last week from a seven-year high, the Labor Department said Thursday, although claims remain at elevated levels that indicate recession. And new job cuts announced after the report was released indicate Thursday's good news is likely to be short lived. Initial claims for jobless benefits dropped 20,000 to a seasonally adjusted 478,000, the department said, the same level that Wall Street economists expected.
June 3, 2005 |
Citigroup Inc., the world's biggest bank, may do an asset swap with financial services firm Legg Mason Inc. that would get the former out of the mutual fund business and the latter out of the brokerage business. Citigroup may swap its $460-billion asset management business for Legg Mason's 1,540 brokers, people familiar with the discussions said Thursday.
September 15, 2001 |
General Electric Co., the largest company by market value, said Friday that its third-quarter profit will be less than analysts' forecasts because of an estimated $400 million in losses at its reinsurance business after the terrorist attacks on the World Trade Center. The company said net income will be about 33 cents a share, 4 cents less than the average estimate of analysts surveyed by Thomson Financial/First Call. General Electric had profit of 32 cents a share in the year-ago period.
December 8, 2010 |
American International Group Inc. has struck a deal to repay a Federal Reserve credit line as the insurer seeks independence from the government. AIG will use proceeds from the sales of two non-U.S. life insurance units to repay the line, on which it owed about $21 billion as of last week, the New York-based company said Wednesday in a filing. The deal was struck with entities including the Treasury Department, which holds a $49-billion preferred stake in the company. The Treasury Department plans to convert its investment into about 1.66 billion shares of common stock, or about 92% of the total, by March 15. The stake will then be sold to private investors.
September 2, 2011 |
American International Group Inc., the bailed-out U.S. insurer, plans to sell more than 20 percent of its ILFC Holdings Inc. plane-leasing subsidiary in an initial public offering and divest most of the unit over time. Details including the number of shares offered, price and timing haven't been determined, New York-based AIG said today in a regulatory filing. None of the proceeds will go to ILFC, the filing said. AIG, led by Chief Executive Officer Robert Benmosche, is selling assets as the company seeks to exit a government rescue that was valued at $182.3 billion.
February 17, 2011 |
Major U.S. banks are about to get penalized for "critical deficiencies" and shortcomings in how they handled foreclosures, a top federal regulator said Thursday at a Senate Banking Committee hearing examining the Dodd-Frank Act six months after its congressional approval. "These deficiencies have resulted in violations of state and local foreclosure laws, regulations or rules," said John Walsh, acting comptroller of the currency. Banking regulators are preparing sanctions and "remedial requirements," he said.