MetLife Release of $950 Million to AIG Moved Forward to Aug. 31

MetLife Inc. (MET), which held part of the purchase price in escrow after buying a unit from American International Group Inc. in 2010, agreed to release $950 million sooner than previously planned, AIG said in a filing today.

The insurers struck a deal last month which, “among other things, provided that $950 million would be released to AIG on August 31, 2012 instead of November 1, 2012 as originally provided under the ALICO stock purchase agreement,” New York based AIG said in a regulatory filing today.

Chris Breslin, a spokesman for New York-based MetLife, and AIG’s Jim Ankner didn’t immediately return a call seeking comment.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.