MetLife Inc in Talks to Acquire PineBridge Investments' Assets

(Reuters) – New York-based insurer MetLife Inc (NYSE:MET) is in advanced talks to purchase PineBridge Investments' assets outside of China.

The deal could be valued between $1 billion and $1.5 billion, as reported by Bloomberg News on Monday. The discussions are exclusively focused on assets under management worth approximately $100 billion.

According to PineBridge's website, the firm is primarily owned by a subsidiary of billionaire Richard Li's Pacific Century Group (PCG), which is based in Asia.

MetLife and PineBridge declined to comment on the discussions.