AIG to sell AIA shares after lock-up ends in September

Bailed-out insurer American International Group Inc will sell its shares in Asian insurer AIA Group Ltd after a lock-up period expires in early September, Chief Executive Bob Benmosche said on Wednesday. ...

Trefis submits: AIG’s (AIG) former Chairman, Harvey Golub, recently caused a stir saying that AIG should not exist in the future and should be split up between its life and property & casualty business. He argued that the two business units are more valuable separately than combined together as there is no strategic fit between them.

Contrary to proponents of anointing such professionals as ‘gatekeepers’ who police against corporate misconduct, the AIG story shows how such custodians run amok American International Group Inc, the insurer rescued by the U.S. government in 2008 with a bailout that ultimately totalled US$182 billion, may join a lawsuit against the government alleging the terms of the deal were unfair.

BusinessWeek - American International Group's $35.5 billion deal to sell the AIA Group, its main Asian insurance operation, to Prudential Plc of the U.K. collapsed on May 31 when the insurer's board refused to cut the price. The sale was seen as critical to the firm's ability to begin repaying the U.S. government's $182.3 billion bailout, and its failure was a setback for CEO Robert Benmosche, who had agreed to a lower price, only to be overruled by his board.

HONG KONG (Reuters) - American

HONG KONG (Reuters) - American International Group is selling part of its stake in AIA Group to raise