AIG considers IPO or 19.9pc stake sale for life and retirement unit

Insurer American International Group Inc AIG.N said on Friday it is considering an initial public offering or a private sale of nearly 20 per cent of its life and retirement business to separate the unit from the rest of the company over the coming year, reports Reuters.

The comments during a quarterly earnings call offered further detail on how it might carry out the long-discussed divestiture, which it announced last week.

“We currently contemplate either an IPO or a private sale of up to 19.9 per cent of Life and Retirement, followed by one or more dispositions of our remaining ownership interest over time,” President Peter Zaffino said on the call.

AIG last week named Zaffino to take over as chief executive officer in March.