Prudential Financial is set to acquire two Japanese life-insurance companies from AIG for nearly $5 billion, The Wall Street Journal reports. The insurer will buy AIG Star Life Insurance and AIG Edison Life Insurance.
AIG will use the sale proceeds to pay off taxpayers, who are owed more than $90 billion from a government bailout. By the end of 2010, AIG will also sell its second-biggest overseas-based life-insurance unit, American Life Insurance Company, to MetLife for $15.5 billion.
Click here for the story fromThe Wall Street Journal.
Click here for additional coverage from Financial Times.
No comments:
Post a Comment