John Hancock Mutual Life Insurance Co. has held informal merger talks with BankBoston Corp. and Fleet Financial Group Inc., an inside source said.

The Boston-based insurer, following the lead of the proposed Citicorp- Travelers Group combination, is said to be eyeing a deal around the time of its initial public offering, expected late next year.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.