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MetLife(MET Quote) recently approached Hartford Financial(HIG Quote) about a possible merger, the Wall Street Journal reports.
Citing people familiar with the discussions, the Journal reports the talks didn't lead anywhere. But the approach shows how strains in the financial system have moved from banks to insurance companies, the Journal adds.
MetLife on Tuesday cut its third-quarter earnings guidance, saying the downturn in the equity markets is hurting fee revenue in the variable annuity business and that variable investment income is declining. ...
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