THE SALE: American International Group Inc. sold its American Life Insurance Co. division, or Alico, to MetLife Inc. for $15.5 billion. The deal is AIG’s second big asset sale in two weeks. On March 1, it said it would sell its AIA Group unit to Prudential PLC for $35.5 billion.

THE PURCHASE: By buying Alico, MetLife can expand in Japan,Europe, the Middle East and Latin America.

BAILOUT UPDATE: The Alico and AIA Group deals will give AIG enough money to reduce its government debt to around $78.26 billion. AIG’s bailoutwas originally worth up to $182.5 billion.

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