MetLife has confirmed to FTAdviser that it has put its pensions risk transfer business MetLife Assurance Limited up for sale.
A source close to the situation told FTAdviser the deal would take “months at least” to complete, and would not impact the rest of the company’s UK operations. The company has appointed Citi bank to handle the sale.
A spokesperson for MetLife said: “MetLife continually evaluates its business to ensure that we are best positioned to achieve our objectives, deliver superior customer service, support long-term business growth and operate effectively and efficiently. We do not comment on market rumours or speculation.”
Earlier this year (7 January), MetLife blamed a tax hike brought about by the Retail Distribution Review for the decision to raise the annual management charge on its Income for Life Bond.
