"We have already been contacted by numerous strong, stable parties, and we expect that buyers will recognize the value of these properties,'' said Chief Executive Officer Edward Liddy, the former Allstate Corp. head, in a statement today.
Selling life insurance operations in the U.S. would be a reversal for Liddy who previously said staying in that business was a priority. The firm tapped about $61 billion of the federal credit line after saying Sept. 16 it would give the U.S. a 79.9 percent stake in exchange for the loan.
The firm's worldwide property and casualty businesses generated close to $40 billion in revenues in 2007.