MetLife Confirms Talks To Sell Its U.S. Advisor Group To MassMutual

MetLife Inc. confirmed Thursday that it held talks with MassMutual Financial Group over a possible deal related to MetLife Premier Client Group, its U.S. advisor group. MetLife said it can't assure a deal will be reached. Earlier Thursday, The Wall Street Journal reported, citing people familiar with the situation, that the life insurer was in talks to sell the business, with roughly 4,000 sales people, to MassMutual. The report said the talks were part of MetLife's larger effort to slim down as it responds to a stricter regulatory environment for companies considered systemically important financial institutions.