AIG to accelerate seperation of international general insurance business
AIG is to accelerate steps to position its general insurance business AIU Holdings as an independent entity by transferring the company to a special purpose vehicle in preparation for the potential sale of a minority stake in the business, which ultimately may include a public offering of shares, depending on market conditions.
In a statement it said: "This is the first step in the process that was announced on 2 March that will result in AIU Holdings having a board of directors, management team, and brand distinct from AIG
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