Metlite
MetLife Chile Seguros de Vida S.A.
Av. Vitacura 2939, Piso 5
Las Condes, Santiago
Tel :(2) 640 1000 + Fax: (2) 640 1100
Santiago, 2 de Noviembre de 2010
Señor
Fernando Coloma Correa
Superintendente de Valores y Seguros
Presente
Ref.: Informa Hecho Relevante conforme Circular N’ 662.
Señor Superintendente:
En conformidad a lo establecido en el artículo 9 e inciso segundo del artículo 10, ambos de la Ley
N*18.045, en relación con la Circular N* 662 de esa Superintendencia, informo a usted lo siguiente:
Como es de conocimiento de esa Superintendencia, en marzo del presente año MetLife Chile
Seguros de Vida S.A. (la “Sociedad”) tomó conocimiento de la suscripción en el extranjero de un
acuerdo (el “Contrato”) entre su controlador último MetLife, Inc. (“MetLife”), ALICO Holdings, LLC
(una sociedad constituida en el Estado de Delaware, Estados Unidos de América, por American
International Group, Inc. (“AIG”) y el Federal Reserve Bank of New York, con el propósito de ser la
titular de todas las acciones de ALICO) y AIG en virtud del cual, sujeto al cumplimiento de ciertas
condiciones de cierre y la obtención de ciertas aprobaciones regulatorias internacionales, MetLife
adquiriría, en aproximadamente 15,5 mil millones de Dólares de los Estados Unidos de América, el
100% de las acciones de American Life Insurance Company (“ALICO”), sociedad legalmente
constituida en el Estado de Delaware, Estados Unidos de América, que es el accionista principal de
la sociedad chilena Inversiones Interamericana S.A., matriz de La Interamericana Compañía de
Seguros de Vida S.A. (la Transacción”).
Habiéndose cumplido y/o renunciado las referidas condiciones de cierre y obtenido las referidas
aprobaciones regulatorias internacionales, de conformidad a los términos del Contrato, la
Transacción se cerró el 1 de noviembre de 2010. Como consecuencia de lo anterior, MetLife, Inc.
es ahora el controlador último de La Interamericana Compañía de Seguros de Vida S.A.
Como se informó por la Sociedad con fecha 10 de marzo del presente año, la materialización del
acuerdo suscrito por MetLife y AIG representa un hecho relevante respecto de mi representada bajo
los términos de la ya aludida Circular N*662, que podría tener influencia significativa positiva en la
marcha de la empresa. Adjuntamos a este último respecto comunicado de prensa emitido con fecha
1 de noviembre de 2010 por MetLife.
Sin otro particular, saluda atentamente a usted,
Víctor Hassi Sabal
Gerente General
Metll hile Seguros de Vida S.A.
Contactos: Para medios de comunicación: Sandra Gurovich (3742670 / 09-5420455)
Sonia Jankelevich (3742670)
Para inversores: Conor Murphy
(12) 578-7788
METLIFE CONCLUYE LA ADQUISICIÓN
DE AMERICAN LIFE INSURANCE COMPANY
NUEVA YORK, 1 de noviembre de 2010 – MetLife, Inc. (NYSE: MET) anunció en el día de
la fecha que ha completado la adquisición de American Life Insurance Company (Alico), de
American International Group, Inc. (A1G), por un valor de $16.200 millones de dólares.
“Con la adquisición de Alico, MetLife se convierte en la principal compañía de seguros de vida
del mundo y en una potencia de beneficios para empleados” afirmó C. Robert Henrikson,
presidente, C.E.O. y presidente del directorio de MetLife, Inc. “Durante muchos años, MetLife
mantuvo posiciones de liderazgo sólidas en los Estados Unidos, México, Corea y Chile; a partir
de ahora, podemos continuar creciendo con nuestro acceso a más de 60 países en todo el mundo.
Esta transacción se alinea con nuestras estrategias de crecimiento global, agregando un alcance y
una escala significativa a la presencia internacional de MetLife. Asimismo, diversifica y
equilibra aún más nuestra oferta de productos y alcance geográfico, a la vez que incrementa de
manera sustancial la capacidad de distribución de la empresa”.
“Como resultado de esta adquisición, nos encontramos en una buena posición para generar
ganancias y lograr un acrecentamiento del retorno sobre el capital,” agregó Henrikson. “Desde el
anuncio de la transacción el 8 de marzo de 2010, los equipos de MetLife y Alico han estado
trabajando en conjunto para garantizar que la compañía combinada capitalice las oportunidades
de crecimiento que se nos presentan”.
Para adquirir Alico, MetLife abonó a AIG $7.200 millones de dólares en efectivo, luego de
ajustes, y $9.000 millones de dólares en acciones y otros títulos valores de MetLife, sujetos a
ajustes finales. La porción del precio de compra abonada en acciones y títulos consistió en 78.2
millones de acciones ordinarias de MetLife, 6.9 millones de títulos contingentes convertibles en
acciones preferidas y 40 millones de unidades de participación. El valor de las acciones
ordinarias y preferidas corresponde al precio de cierre de las acciones ordinarias de MetLife del
día 29 de octubre, último día de cotización previo al cierre. |
MetLife, Inc. es un proveedor global líder de seguros, anualidades y programas de beneficios
para empleados, brindando sus servicios a 90 millones de clientes en más de 60 países. A través
de sus subsidiarias y afiliadas, MetLife mantiene posiciones de liderazgo en los Estados Unidos,
Japón, América Latina, Asia Pacífico, Europa y Oriente Médio. Para mayor información, visite
www.metlife.com
Por razones técnicas y legales, la siguiente información se encuentra en idioma inglés:
This press release may contain or incorporate by reference information that includes or is based upon forward-
looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements give expectations or forecasts of future events. These statements can be identified by the fact that they do
not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,”
“intend,” “plan,” “believe” and other words and terms of similar meaning in connection with a discussion of future
operating or financial performance. In particular, these include statements relating to future actions, prospective
services or products, future performance or results of current and anticipated services or products, sales efforts,
expenses, the outcome of contingencies such as legal proceedings, trends in operations and financial results.
Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or
by known or unknown risks and uncertainties. Many such factors will be important in determining MetLife”s actual
future results. These statements are based on current expectations and the current economic environment, They
involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future
performance. Actual results could differ materially from those expressed or implied in the forward-looking
statements. Risks, uncertainties, and other factors that might cause such differences include the risks, uncertainties
and other factors identified in MetLife, Inc.”s filings with the U.S. Securities and Exchange Commission (the
“SEC”). These factors include: (1) the imposition of onerous conditions following the acquisition of American Life
Insurance Company (“ALICO”), a subsidiary of ALICO Holdings LLC (“ALICO Holdings”) and Delaware
American Life Insurance Company (“DelAm”) (collectively, the “Acquisition”); (2) difficulties in integrating the
business acquired in the Acquisition (the “Alico Business”); (3) uncertainty with respect to the outcome of the
closing agreement entered into between ALICO and the United States Internal Revenue Service in connection with
the Acquisition; (4) uncertainty with respect to the making of elections under Section 338 of the U.S. Internal
Revenue Code of 1986, as amended, and any benefits therefrom; (5) an inability to manage the growth of the Alico
Business; (6) a writedown of the goodwill established in connection with the Acquisition; (7) exchange rate
fluctuations; (8) an inability to predict the financial impact of the Acquisition on MetLife”s business and financial
results; (9) events relating to American International Group, Inc. (“AIG”) that could adversely affect the Alico
Business or MetLife; (10) the dilutive impact on MetLife, Inc.?s stockholders resulting from the issuance of equity
securities to ALICO Holdings in connection with the Acquisition; (11) a decrease in MetLife, Inc.*s stock price as a
result of ALICO Holdings” ability to sell its equity securities; (12) the conditional payment obligation of
approximately $300 million to ALICO Holdings if the conversion of the Series B Contingent Convertible Junior
Participating Non-Cumulative Perpetual Preferred Stock (“Series B Preferred Stock”) issued to ALICO Holdings in
connection with the Acquisition into MetLife, Inc.?s common stock is not approved; (13) change of control
provisions in the Alico Business” agreements; (14) effects of guarantees within certain of the Alico Business”
variable life and annuity products; (15) regulatory action in the financial services industry affecting the combined
business; (16) financial instability in Europe and possible writedowns of sovereign debt of European nations; (17)
difficult conditions in the global capital markets; (18) increased volatility and disruption of the capital and credit
markets, which may affect MetLife”s ability to seek financing or access its credit facilities; (19) uncertainty about
the effectiveness of the U.S. government’s programs to stabilize the financial system, the imposition of fees relating
thereto, or the promulgation of additional regulations; (20) impact of comprehensive financial services regulation
reform on MetLife; (21) exposure to financial and capital market risk; (22) changes in general economic conditions,
including the performance of financial markets and interest rates, which may affect MetLife”s ability to raise capital,
generate fee income and market-related revenue and finance statutory reserve requirements and may require MetLife
to pledge collateral or make payments related to declines in value of specified assets; (23) potential liquidity and
other risks resulting from MetLife”s participation in a securities lending program and other transactions; (24)
investment losses and defaults, and changes to investment valuations; (25) impairments of goodwill and realized
losses or market value impairments to illiquid assets; (26) defaults on MetLife”s mortgage loans; (27) the
impairment of other financial institutions; (28) MetLife”s ability to address unforeseen liabilities, asset impairments,
or rating actions arising from any future acquisitions or dispositions, and to successfully integrate acquired
businesses with minimal disruption; (29) economic, political, currency and other risks relating to MetLife’s
international operations; (30) MetLife, Inc.”s primary reliance, as a holding company, on dividends from its
subsidiaries to meet debt payment obligations and the applicable regulatory restrictions on the ability of the
subsidiaries to pay such dividends; (31) downgrades in MetLife, Inc.”s and its affiliates? claims paying ability,
financial strength or credit ratings; (32) ineffectiveness of risk management policies and procedures; (33)
availability and effectiveness of reinsurance or indemnification arrangements, as well as default or failure of
counterparties to perform; (34) discrepancies between actual claims experience and assumptions used in setting
prices for MetLife”s products and establishing the liabilities for MetLife*s obligations for future policy benefits and
claims; (35) catastrophe losses; (36) heightened competition, including with respect to pricing, entry of new
competitors, consolidation of distributors, the development of new products by new and existing competitors,
distribution of amounts available under U.S. government programs, and for personnel; (37) unanticipated changes in
industry trends; (38) changes in accounting standards, practices and/or policies; (39) changes in assumptions related
to deferred policy acquisition costs (“DAC”), deferred sales inducements (“DST”), value of business acquired
(“VOBA”) or goodwill; (40) increased expenses relating to pension and postretirement benefit plans, as well as
health care and other employee benefits; (41) exposure to losses related to variable annuity guarantee benefits,
including from significant and sustained downturns or extreme volatility in equity markets, reduced interest rates,
unanticipated policyholder behavior, mortality or longevity, and the adjustment for nonperformance risk; (42)
deterioration in the experience of the “closed block” established in connection with the reorganization of MLIC;
(43) adverse results or other consequences from litigation, arbitration or regulatory investigations; (44) discrepancies
between actual experience and assumptions used in establishing liabilities related to other contingencies or
obligations; (45) regulatory, legislative or tax changes relating to MetLife”s insurance, banking, international, or
other operations that may affect the cost of, or demand for, MetLife”s products or services, impair its ability to
attract and retain talented and experienced management and other employees, or increase the cost or administrative
burdens of providing benefits to employees; (46) the effects of business disruption or economic contraction due to
terrorism, other hostilities, or natural catastrophes; (47) the effectiveness of MetLife”s programs and practices in
avoiding giving its associates incentives to take excessive risks; (48) other risks and uncertainties described from
time to time in MetLife, Inc.”s filings with the SEC; and (49) any of the foregoing factors as they relate to the Alico
Business and its operations.
MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking statement if
MetLife, Inc. later becomes aware that such statement is not likely to be achieved. Please consult any further
disclosures MetLife, Inc. makes on related subjects in reports to the SEC.
44H ¡
Public Relations
MetLife, inc.
1095 Avenue of the Americas
New York, NY 10036
For Immediate Releas
Contacts: For Media: – John Calagna
(212) 578-6252
For Investors: Conor Murphy
(212) 578-7788
METLIFE COMPLETES ACQUISITION
OF AMERICAN LIFE INSURANCE COMPANY
NEW YORK, November 1, 2010 – MetLife, Inc. (NYSE: MET) announced today that it has
completed its acquisition of American Life Insurance Company (Alico) from American
International Group, Inc. (A1G) 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 82 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.
MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs,
serving 90 million customers in over 60 countries. Through its subsidiaries and affiliates,
MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific,
Europe and the Middle East, For more information, visit www.metlife.com.
This press release may contain or incorporate by reference information that includes or is based upon forward-
looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements give expectations or forecasts of future events. These statements can be identified by the fact that they do
not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,”
“intend,” “plan,” “believe” and other words and terms of similar meaning in connection with a discussion of future
Operating or financial performance. In particular, these include statements relating to future actions, prospective
services or products, future performance or results of current and anticipated services or products, sales efforts,
expenses, the outcome of contingencies such as legal proceedings, trends in operations and financial results.
Any or all forward-looking statements may turn out to be wrong. They cán be affected by inaccurate assumptions or
by known or unknown risks and uncertainties. Many such factors will be important in determining MetLife’s actual
future results, These statements are based on current expectations and the current economic environment, They
involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future
performance. Actual results could differ materially from those expressed or implied in the forward-looking
statements. Risks, uncertainties, and other factors that might cause such differences include the risks, uncertainties
and other factors identified in MetLife, Inc.”s filings with the U.S. Securities and Exchange Commission (the
“SEC”). These factors include: (1) the imposition of onerous conditions following the acquisition of American Life
Insurance Company (“ALICO”), a subsidiary of ALICO Holdings LLC (“ALICO Holdings”) and Delaware
American Life Insurance Company (“DelAm”) (collectively, the “Acquisition”); (2) difficulties in integrating the
business acquired in the Acquisition (the “Alico Business”); (3) uncertainty with respect to the outcome of the
closing agreement entered into between ALICO and the United States Internal Revenue Service in connection with
the Acquisition; (4) uncertainty with respect to the making of elections under Section 338 of the U.S. Internal
Revenue Code of 1986, as amended, and any benefits therefrom; (5) an inability to manage the growth of the Alico
Business; (6) a writedown of the goodwill established in connection with the Acquisition; (7) exchange rate
fluctuations; (8) an inability to predict the financial impact of the Acquisition on MetLife”s business and financial
results; (9) events relating to American International Group, Inc. (“A1G”) that could adversely affect the Alico
Business or MetLife; (10) the dilutive impact on MetLife, Inc.”s stockholders resulting from the issuance of equity
securities to ALICO Holdings in connection with the Acquisition; (11) a decrease in MetLife, Inc.”s stock price as a
result of ALICO Holdings” ability to sell its equity securities; (12) the conditional payment obligation of
approximately $300 million to ALICO Holdings if the conversion of the Series B Contingent Convertible Junior
Participating Non-Cumulative Perpetual Preferred Stock (“Series B Preferred Stock”) issued to ALICO Holdings in
connection with the Acquisition into MetLife, Inc.*s common stock is not approved; (13) change of control
provisions in the Alico Business” agreements; (14) effects of guarantees o certain of the Alico Business”
variable life and annuity products, (15) regulatory action in the financial services industry affecting the combined
business; (16) financial instability in Europe and possible writedowns of sovereign debt of European nations;
(17) difficult conditions in the global capital markets; (18) increased volatility and disruption of the capital and
credit markets, which may affect MetLife’s ability to seek financing or access its credit facilities; (19) uncertainty
about the effectiveness of the U.S. government’s programs to stabilize the financial system, the imposition of fees
relating thereto, or the promulgation of additional regulations; (20) impact of comprehensive financial services
regulation reform on MetLife; (21) exposure to financial and capital market risk; (22) changes in general economic
conditions, including the performance of financial markets and interest rates, which may affect MetLife”s ability to
raise capital, generate fee income and market-related revenue and finance statutory reserve requirements and may
require MetLife to pledge collateral or make payments related to declines in value of specified assets; (23) potential
liquidity and other risks resulting from MetLife”s participation in a securities lending program and other
transactions; (24) investment losses and defaults, and changes to investment valuations; (25) impairments of
goodwill and realized losses or market value impairments to illiquid assets; (26) defaults on MetLife’s mortgage
loans; (27) the impairment of other financial institutions; (28) MetLife”s ability to address unforeseen liabilities,
asset impairments, or rating actions arising from any future acquisitions or dispositions, and to successfully integrate
acquired businesses with minimal disruption; (29) economic, political, currency and other risks relating to MetLife’s
international operations; (30) MetLife, Inc.’s primary reliance, as a holding company, on dividends from its
subsidiaries to meet debt payment obligations and the applicable regulatory restrictions on the ability of the
subsidiaries to pay such dividends; (31) downgrades in MetLife, Inc.”s and its affiliates” claims paying ability,
financial strength or credit ratings; (32) ineffectiveness of risk management policies and procedures;
(33) availability and effectiveness of reinsurance or indemnification arrahgements, as well as default or failure of
counterparties to perform; (34) discrepancies between actual claims experience and assumptions used in setting
prices for MetLife”s products and establishing the liabilities for MetLife”s obligations for future policy benefits and
claims; (35) catastrophe losses; (36) heightened competition, including with respect to pricing, entry of new
competitors, consolidation of distributors, the development of new products by new and existing competitors,
distribution of amounts available under U.S. government programs, and for personnel; (37) unanticipated changes in
industry trends; (38) changes in accounting standards, practices and/or policies; (39) changes in assumptions related
to deferred policy acquisition costs (“DAC”), deferred sales inducements (“DST”), value of business acquired
(“VOBA”) or goodwill; (40) increased expenses relating to pension and postretirement benefit plans, as well as
health care and other employee benefits; (41) exposure to losses related to variable annuity guarantee benefits,
including from significant and sustained downturns or extreme volatility in equity markets, reduced interest rates,
unanticipated policyholder behavior, mortality or longevity, and the adjustment for nonperformance risk;
(42) deterioration in the experience of the “closed block” established in connection with the reorganization of
MLIC; (43) adverse results or other consequences from litigation, arbitration or regulatory investigation;
(44) discrepancies between actual experience and assumptions used in establishing liabilities related to other
contingencies or obligations; (45) regulatory, legislative or tax changes relating to MetLife’s insurance, banking,
international, or other operations that may affect the cost of, or demand for, MetLife’s products or services, impair
its ability to attract and retain talented and experienced management and other employees, or increase the cost or
administrative burdens of providing benefits to employees; (46) the effects of business disruption or economic
contraction due to terrorism, other hostilities, or natural catastrophes; (47) the effectiveness of MetLife’s programs
and practices in avoiding giving its associates incentives to take excessive risks; (48) other risks and uncertainties
described from time to time in MetLife, Inc.’s filings with the SEC; and (49) any of the foregoing factors as they
relate to the Alico Business and its operations.
MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking statement if
MetLife, Inc. later becomes aware that such statement is not likely to be achieved. Please consult any further
disclosures MetLife, Inc. makes on related subjects in reports to the SEC.
RH HH
Link al archivo en CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=10a15144c89b30722a12044a30281cbfVFdwQmVFMUVSWGhOUkVWNlQwUkJNazEzUFQwPQ==&secuencia=-1&t=1682366909
