MetLife, Inc. (NYSE: MET) announced today that it has completed its acquisition of American Life Insurance Company (Alico) from American International Group, Inc. (AIG) for $16.2 billion. “With our acquisition of Alico complete, MetLife has become the premier global life insurance and employee benefits powerhouse,” said C. Robert Henrikson, chairman, president & chief executive officer of MetLife, Inc. “For many years, MetLife has held strong, leadership positions in the U.S., Mexico, Korea and Chile that we can now build upon with our reach into more than 60 countries around the globe. This transaction delivers on our global growth strategies, adding significant scale and reach to MetLife’s international footprint. It also further diversifies and balances our geographic mix and product offerings and significantly increases the company’s distribution power. “We are well positioned to deliver earnings and return on equity accretion as a result of this acquisition,” added Henrikson. “Since announcing this transaction on March 8, 2010, teams from MetLife and Alico have been working closely together to help ensure that the combined organization will capture the growth opportunities before us.” Consideration paid by MetLife to AIG for the acquisition of Alico consisted of $7.2 billion in cash consideration after adjustments and $9.0 billion in MetLife equity and other securities, subject to closing adjustments. The securities portion of the purchase price consisted of 78.2 million shares of MetLife common stock, 6.9 million shares of contingent convertible preferred stock and 40 million equity units. The values of the common and preferred stock are based on the closing price of MetLife’s common stock on October 29, the trading date prior to closing.