NEW YORK - Travelers Life and Annuity, a division, of Citigroup Inc., is reportedly close to a deal to sell its long-term-care business to Metropolitan Life Insurance Co.Reuters, citing unnamed sources, reported that the life and annuity business generated just $213 million of premiums last year. New York-based MetLife last year began selling long-term care insurance to the American Association of Retired Persons and has said the relationship was major driver in a 174% increase in nonmedical health, long-term-care, and other sales in 1998. A MetLife spokeswoman, Michelle Marin, declined to comment.

A study released in October by the Association of Banks in Insurance and Reagan & Associates said 17% of banks with insurance sales programs currently offer long-term care products and another 20% plan to add them within two years.

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