MetLife To Sell Taiwan Life Insurance Unit For $180M

Law360, New York (March 28, 2011, 5:28 PM EDT) -- MetLife Inc. plans to sell its Taiwan life insurance business to Chinatrust Financial Holding Co. Ltd. for $180 million, a spokesman for the company said Monday.

The deal must still be approved by Taiwanese regulators, MetLife Vice President for International Communications Peter Stack said.

Chinatrust, the owner of Taiwan’s largest credit card company, Chinatrust Commercial Bank, will fund the purchase with its cash reserves and will not require any borrowing, Stack said.

The Taiwanese company plans to retain the roughly 600 people MetLife is currently employing...
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