(Bloomberg) -- Massachusetts Mutual Life Insurance Co. agreed to buy a distribution network from MetLife Inc., adding 4,000 financial advisers as Chief Executive Officer Roger Crandall seeks to expand offerings of annuities, life policies, and disability coverage.
MassMutual will pay $300 million for MetLife Premier Client Group and related assets, the seller said Monday in a regulatory filing. As part of the deal, MetLife will be the exclusive developer of certain annuity products issued by MassMutual.
The deal adds to MassMutual’s agency force of more than 5,600 financial professionals.
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