ALICO Accelerates MetLife's International Growth

MetLife MET increased its international presence substantially after the acquisition of ALICO in 2010. MetLife competes with AIG AIG, The Hartford HIG, Prudential Financial PRU and New York Life Company. MetLife reported a 36% increase in premiums, fees and other revenues from the insurance business outside of the U.S. in the year 2010, mainly due to the addition of about $836 million from ALICO's one month operations. MetLife acquired ALICO for about $15.5 billion from AIG as a part of its strategy to grow internationally. The acquisition has enabled MetLife to serve 90 million customers in over 60 countries and has significantly boosted MetLife's position as a leading insurance company in the U.S, Japan, Latin America, Asia Pacific, Europe and the Middle East. Continue reading the article.