MetLife has $800M exposure to Lehman, AIG
MetLife Inc. has some $800 million in exposure to the now-collapsed Lehman Brothers Holdings Inc. and the just-rescued American International Group Inc. and is assessing the recoverability of those investments.
MetLife Inc. has some $800 million in exposure to the now-collapsed Lehman Brothers Holdings Inc. and the just-rescued American International Group Inc.
MetLife yesterday said that its net direct investments in Lehman Brothers and AIG have an aggregate book value of about $800 million.
Those investments include debt, equities and derivatives, plus $10 million in common stock.
MetLife is assessing the recoverability of these investments, the firm said in a statement.
Additionally, the company has made secured loans to Lehman Brothers’ affiliates, which are “fully collateralized.”
All three companies are based in New York.
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