MetLife Said to Be in Talks to Buy $100B of PineBridge Assets

PCG bought PineBridge from American International Group Inc. for $500 million in 2010 as the insurer was selling assets to repay a government bailout. PineBridge’s clients include pension plans, insurance companies, official institutions, private banks, advisers and intermediaries.

A purchase of PineBridge’s non-China assets could boost MetLife’s roughly $175 billion of current client investment assets by more than 50%, Bloomberg Intelligence analyst Jeffrey Flynn wrote in a note on Monday.

The deal value would align with MetLife’s focus on less capital-intensive areas to support its rising return on equity, Flynn said.

MetLife shares were down 0.1% to $84.75 at 4:45 p.m. Tuesday in New York. They have climbed roughly 26% this year, giving the company a market value of about $59 billion.

(Credit: Bloomberg)

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