Insurance deals boost
The pace of mergers and acquisitions is gaining speed in 2010 thanks to American International Group Inc.
MetLife Inc.’s $15.5 billion deal Monday to buy AIG’s American Life Insurance Co., or Alico, brought the total value of dealmaking globally this year to $500.3 billion. That was up 21 percent from the year-ago period, according to data collected by deal-tracking firm Dealogic.
The transaction is the fifth-largest deal globally so far this year, and the second-largest U.S. transaction announced in 2010.
AIG’s sale of Asia-based life insurer, AIA Group, to Britain’s Prudential PLC last week for $35.5 billion tops the global 2010 list.