AIG To Split Off Life & Retirement Business
October 28, 2020 by John Hilton
American International Group will separate its life and retirement business from AIG.
The company’s executive management team, with assistance from independent financial and legal advisors and oversight from the AIG Board of Directors, “conducted a comprehensive review of the company’s current composite structure, including strategic, operational, capital and tax implications,” the company said in a news release.
As a result of this review, the board has decided to pursue a separation of the Life & Retirement business from AIG. A “simplified corporate structure will unlock significant value for shareholders and other stakeholders,” the release said.
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