NEW YORK (AP) — MetLife Inc., the nation's largest life insurer, said Wednesday that its first-quarter profit rose 3 percent, helped by the acquisition of AIG's Alico unit and a jump in investment income.
The period was the first full quarter that MetLife controlled Alico, the international life insurance company it bought Nov. 1 from bailed-out rival American International Group Inc. Alico, which operates in more than 50 countries, helped more than double MetLife's international sales.
Strong life, accident and health insurance sales in Japan also boosted premiums and fees. MetLife said it expects to report claims related to the March 11 earthquake and subsequent tsunami of between $45 million and $65 million in the second quarter.
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