AIG unlikely to sell Australian businesses
Troubled US insurer AIG is unlikely to sell its Australian operations, according to an analyst report issued by ABN AMRO Equities this week.
The report points to the announced restructuring of the AIG Group aimed at repaying the US$85 billion loan from the US Treasury, and suggests the company is likely to try to retain its US property and casualty operations and its foreign general insurance business.
It said a review of AIG’s plan indicated that its Australian operations, which include both general and life insurance businesses, are likely to be maintained by the company in circumstances where they appear to meet the definition of “core” under the new business profile.
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