AIG chooses IPO over private bids for life spinoff

AIG office in downtown New York City. Credit: Shutterstock/Evan El-Amin

AIG has said it will launch an IPO to sell a 19.9% stake in its life unit as part of its plan to split the group into separate life and P&C businesses, rather than sell the stake to potential bidders. Speaking to analysts following its Q1 2021 results announcement, new CEO Peter Zaffino said AIG had considered interest from other…

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