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Announcement (May 13, 2009): Unity Life of Canada has entered into an agreement to acquire substantially all of the insurance business of MetLife Canada. As part of the transaction, Unity Life of Canada will acquire MetLife Canada's block of approximately 0.1 million life and health insurance policies and a small number of group annuity contracts, including policy liabilities of approximately $300 million and related assets. The transaction is expected to be completed by the end of 2009. Deal Type Acquisition Sub-Category Asset Purchase Deal Status Completed: 2009-11-02 Deal Participants Target (Company) MetLife Canada - Insurance Business Acquirer (Company) Unity Life of Canada Vendor (Company) MetLife Canada Deal Rationale The acquisition would allow Unity Life of Canada to strengthen its ongoing commitment to growth and maintain its leadership position in its core markets. The transaction is in line with Unity Life's growth strategy of acquiring complementary blocks of business that align with its market and area of expertise, support the growth of its Canadian business, and reduce its unit costs. For full details on Metlife Inc (MET) click here. Metlife Inc (MET) has Short Term PowerRatings of 6. Details on Metlife Inc (MET) Short Term PowerRatings is available at This Link.
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