AIG plans to sell its remaining stake in Asian life insurer AIA in September.

CEO Robert Benmosche told AIG’s annual shareholder meeting in New York last week that the remaining shares in AIA will be sold when they come out of escrow.

He said the shares “will be liquidated after September 4” and the sale will help decrease volatility in AIG’s earnings.

AIA shares were trading on the Hong Kong Stock Exchange at $HK26.15 ($3.38) last week, which would value AIG’s 18.6% stake at about $US7.6 billion ($7.65 billion).

In March, AIG sold 1.72 billion AIA shares for about $US6 billion ($6.03 billion) with the proceeds used to reduce debt.