American International Group (AIG) shares jumped Thursday after it agreed to sell a stake in its life and retirement business to Blackstone, securing financial flexibility for itself and continuing to advance that unit toward an initial public offering. Shares in AIG gained after New York-based asset management giant Blackstone said it has agreed to acquire… Continue reading AIG Jumps on Deal to Sell Life and Retirement Business for $2.2B to Blackstone
Tag: AIG life insurance
Peter Zaffino to Take Over as AIG CEO, Insurer to Divest Life-Insurance Business
Insurance conglomerate American International Group Inc. is taking steps to split off its life-insurance business into a separate company, leaving it to focus on property-casualty insurance, a separation it will make under the direction of a new chief executive. In news releases late Monday afternoon, the New York company said current Chief Executive Brian Duperreault… Continue reading Peter Zaffino to Take Over as AIG CEO, Insurer to Divest Life-Insurance Business