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Markets News

AIG to consider IPO or stake sale for life and retirement unit

Nov 6 (Reuters) - Insurer American International Group Inc , which plans to separate its life and retirement business from the rest of the company, said on Friday it is considering a number of options for the business, including an initial public offering or a stake sale of nearly 20%.

“We currently contemplate either an IPO or a private sale of up to 19.9% of Life and Retirement, followed by one or more dispositions of our remaining ownership interest over time,” said AIG president Peter Zaffino in a post-earnings conference call. (Reporting by Noor Zainab Hussain and Anirban Sen in Bengaluru; Editing by Saumyadeb Chakrabarty)

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