aig-makes-a-move-to-list-aia

AIG makes a move to list AIA

The US insurance giant confirms its intentions to spin off its Asian life insurance operations and sends out RFPs to a number of investment banks seeking arrangers for an IPO.

US-based insurance company American International Group AIG confirmed in a statement early Monday morning Hong Kong time that it has changed strategies with regard to its Asian life insurance unit, American International Assurance Company AIA, and is now looking to position it as an independent entity with its own listing.

The listing will be subject to regulatory approval and will depend on market conditions, but the aim is to float the company on an Asian stock exchange, AIG said without specifying which stock exchange it may have in mind. The listing will result in AIA getting a separate management team and board of directors, it said.

We continue to consider all strategic options...

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