MetLife, Prudential Hunting for Life-Insurance, Pension Deals

The two biggest U.S. life insurers are on the prowl.

MetLife Inc. and Prudential Financial Inc. are both open to buying businesses or striking pension deals, their executives said on fourth-quarter earnings calls Feb. 7.

“We’ll continue to look for acquisitions” to add distribution for Prudential’s life insurance, asset management and retirement businesses or provide more financial tools for customers, said Chief Executive Officer Charles Lowrey, who took the helm in December.

MetLife’s incoming CEO, Michel Khalaf, who takes over May 1, said the company would consider strategic acquisitions. One area for potential deals is in pension risk transfers, in ...