Monday, March 2, 2009

AIG to Form General Insurance Holding Company

American International Group Inc. (AIG) announced that it intends to form a General Insurance holding company, including its Commercial Insurance Group, Foreign General unit, and other property and casualty operations, to be called AIU Holdings Inc., with a board of directors, management team and brand distinct from AIG.

The establishment of AIU Holdings Inc. will reportedly assist AIG in preparing for the potential sale of a minority stake in the business, which ultimately may include a public offering of shares, depending on market conditions.

When formed, AIU Holdings Inc. will be a franchise with more than 44,000 employees and 500 products and services serving 40 million commercial and individual customers in 130 countries and jurisdictions.

1 comment:

arizona bankruptcy lawyer said...

I am not sure many American's know where all that AIG money went. According to reports those hundreds of millions American taxpayers (ok Congress) gave to AIG actually went to foreign banks.