M&A Deal Summary

MetLife Acquires The Travelers Life and Annuity

On July 1, 2005, MetLife acquired insurance company The Travelers Life and Annuity from Citi for 11.8B USD

Acquisition Highlights
  • This is MetLife’s 2nd transaction in the Insurance sector.
  • This is MetLife’s 2nd largest (disclosed) transaction.
  • This is MetLife’s 2nd transaction in the United States.
  • This is MetLife’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2005-07-01
Target The Travelers Life and Annuity
Sector Insurance
Buyer(s) MetLife
Sellers(s) Citi
Deal Type Divestiture
Deal Value 11.8B USD

Target

The Travelers Life and Annuity

Hartford, Connecticut, United States
The Travelers Life and Annuity Co., provides various individual insurance products.

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Buyer(S) 1

Buyer

MetLife

New York, New York, United States

website

Category Company
Founded 1863
Sector Insurance
Revenue 69.9B USD (2022)
DESCRIPTION
The MetLife Tower in New York City.
The MetLife Tower in New York City.

MetLife is a global financial services and insurance company, offering clients planning, retirement and savings solutions. MetLife was formed in 1863 and is based in New York City.

DEAL STATS #
Overall 2 of 12
Sector (Insurance) 2 of 7
Type (Divestiture) 1 of 4
State (Connecticut) 1 of 1
Country (United States) 2 of 11
Year (2005) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-26 SSRM Holdings

Boston, Massachusetts, United States

SSRM Holdings Inc, the holding company of State Street Research & Management Company and SSR Realty Advisors Inc.

Sell $375M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-01 SafeGuard Health Enterprises

Los Angeles, California, United States

SafeGuard Health Enterprises, Inc. is a provider of dental benefits. It contracts with large and medium-sized governmental and private-sector employers to provide employees with managed care dental plans, indemnity dental plans, vision benefit plans, administrative services and preferred provider services.

Buy -

Seller(S) 1

SELLER

Citi

New York, New York, United States

website

Category Company
Founded 1812
Sector Financial Services
Employees236,304
Revenue 75.3B USD (2022)
DESCRIPTION

Citi is a global diversified financial services holding company, whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Citi was incorporated in 1812 and is based in New York City.

DEAL STATS #
Overall 3 of 19
Sector (Insurance) 1 of 2
Type (Divestiture) 3 of 16
State (Connecticut) 1 of 2
Country (United States) 3 of 11
Year (2005) 1 of 1
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-22 KorAm Bank

Seoul, South Korea

KorAm Bank was the seventh largest national commercial bank in Korea with approximately 226 branch locations and 4,250 full and part-time employees.

Buy $2.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-10 Cabot Financial

Kings Hill, West Malling, United Kingdom

Cabot Financial Ltd. is a provider of debt recovery services, helping people to resolve past credit difficulties.

Buy £275M
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