MetLife is gearing up to sell its bulk annuity arm in a deal worth hundreds of millions of pounds, according to Sky News.
The report said MetLife has appointed Citi Bank to run an auction of its UK Assurance division.
It is understood MetLife chose the business for sale after building up its presence in the market over the past five years. The division employs 55 people in London, according to the company.
A spokesman for MetLife told Sky News: "MetLife continually evaluates its businesses to ensure that we are best positioned to achieve our objectives, deliver superior customer service, support long-term business growth and operate effectively and efficiently.
"We do not comment on market rumours or speculation."
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