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Mergers, Acquisitions, Alliances and Synergies Case Study
Case Title:
Metlife's Acquisition of Citigroup's Insurance Arm, Travelers Inc : The Synergies
Publication Year : 2005
Authors: Nusrat Jahan Maldar, Sumit Kumar Chaudhuri
Industry: Life Insurance
Region: USA
Case Code: MAA0058
Teaching Note: Not Available
Structured Assignment: Not Available
OR
Abstract:
Citigroup is the world's most profitable financial services organisation. During the 1990s, to become a financial 'supermarket' that offered all financial services under one umbrella, Citigroup diversified into insurance, mortgage and investment banking businesses. However, the company was unable to reap the estimated synergies from this kind of business model. In 2005, Citigroup announced the sale of its insurance business, Travelers Inc., to MetLife, the US' largest life insurer.
Pedagogical Objectives:
- To highlight the potential synergies that MetLife stands to gain from the acquisition
- To discuss the challenges facing the successful integration of Travelers with MetLife.
Keywords : Mergers,Acquisitions,Alliances Case Study;Citigroup; Metlife; Acquisition synergies; Life and health insurance; Financial supermarket; Citicorp; Glass-Steagall Act; Gramm-Leach-Bliley Act; Robert Benmosche; Distribution network; Joint venture; Smith Barney; Primerica; Strategic fit; Cross selling; Consumer banking investment; Travelers group.
