AIG may sell auto insurance business to Zurich
AIG is in advanced talks with Zurich Financial Services to sell its US auto insurance business, international media reports claim.
The sale of 21st Century Insurance is expected to bring in about $US2 billion ($3.03 billion), making it the largest sale since the AIG bailout in September last year.
The business is part of AIG’s US personal lines unit, which includes its private client division. CEO Edward Liddy has said the division is not being sold.
The sale of 21st Century Insurance is expected to bring in about $US2 billion ($3.03 billion), making it the largest sale since the AIG bailout in September last year.
The business is part of AIG’s US personal lines unit, which includes its private client division. CEO Edward Liddy has said the division is not being sold.