Business & Banking

Business & Banking

Mexico

MetLife Buys Mexico's Hidalgo MetLife, the largest insurer in the United States, has agreed to buy Mexico's state-owned Aseguradora Hidalgo for $965 million in cash, outbidding rival insurers aiming to expand into Latin America's biggest economy and its fastest-growing insurance market. MetLife beat out Spain's Corporación Mapfre and Grupo Financiero Inbursa, the banking and insurance company owned by Mexican billionaire Carlos Slim. Hildago provides mainly life insurance to federal employees and controls 13% of Mexico's $11 billion insurance market, making it the country's largest life insurer. It will now become Mexico's second-largest overall insurance company, behind Se

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial