Metlife CEO Enthusiastic about Alico Purchase

Financial World News Update by Equities Magazine

Beverly Hills 3/08/2010 07:32 PM GMT (TransWorldNews)

C. Robert Henrikson, CEO of the nation’s largest insurer, Metlife is expecting major sales growth from the $15.5 billion deal with American International Group settled upon this morning. Buying the ailing insurers American Life Insurance Co., called Alico, is “just the beginning of bringing Alico into the family,” Henrikson said. .

By 2011, the company is expecting 45 cents to 55 cents in gains per shares as a result of the deal. The company wants to move in the direction of profit making immediately noting that the Metlife team is already prepared for major changes given the length of time it took to come to a settlement.

Metlife’s decision to purchase Alico was designed to help achieve the insurers primary business goals of expanding presence in overseas markets and cutting down on exposure to markets with which Metlife has present dealings.  "Every piece of this deal," Henrikson says, has some relevance in moving the company forward toward its goals.

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