MetLife has acquired Citigroup's Travelers Life & Annuityand substantially all of Citigroup's international insurancebusinesses for $11.5 billion, subject to closing adjustments. Thedeal will make MetLife the largest individual life insurer in NorthAmerica, based on sales. In connection with the transaction,Citigroup and MetLife have entered into 10-year agreements, underwhich MetLife will expand its distribution by making productsavailable through certain Citigroup distribution channels, such asSmith Barney, Citibank, and Primerica.
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