AIG sells Alico unit

From
the Miami Herald

NEW
YORK – American International Group is selling an overseas life and health
insurance unit for $15.5 billion to MetLife as it continues to shed assets to
repay billions in government aid.

Alico,
which operates in more than 50 countries, is the second international unit AIG
has sold this month. On March 1, AIG said it would sell a cornerstone of its
business, Asia-based life insurer AIA Group, to Britain’s Prudential PLC in a
government-approved $35.5 billion deal.

The
sales of Alico and AIA could net enough to eventually cover the Federal Reserve
Bank of New York’s $47.9 billion investment in AIG.

0
0

NO COMMENTS