Business Case Studies, Mergers, Acquisitions and Takeovers Case Study, Metlife's Acquisition of Citigroup's Insurance Arm, Travelers Inc , The Synergies

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Mergers, Acquisitions and Takeovers Case Study

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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: Banking, Insurance and Financial Services

Region:USA

Case Code: MAA0023

Teaching Note: Not Available

Structured Assignment: Not Available

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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.

Contents : 
MetLife’s Acquisition of Travelers Inc
The Synergies Ahead
The Challenges Ahead
Top Twenty US Life/Health Insurance Groups and Companies
MetLife Business Segments
Citighroup’s Products/Operations

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