Insurance M&A: Snoopy’s hungry

Insurance companies have been badly battered by the financial crisis. So it’s a good time for solid US outfit Metlife to go shopping. The insurance company’s strong balance sheet means it is better placed than rivals to take advantage of low valuations across the sector. AIG’s sale of its international life insurance business, Alico, looks like an ideal target: the sale is forced and the fit is good. Metlife had $38bn of cash and short-term investments at the end of the first quarter. And cash ...