AIG: To Keep Holding Japan Units AIG Edison Life, AIG Star Life
October 30 2009 - 7:50AM
Dow Jones News
American International Group Inc. (AIG) has decided not to sell
its Japan units, AIG Star Life Insurance Co. and AIG Edison Life
Insurance Co., the company said in a press release Friday.
The New York-listed company, bailed out from bankruptcy by the
U.S. government, announced in October last year it would offload
its three Japanese life insurance subsidies as part of its
rehabilitation plans.
"I have come to believe that we can obtain the greatest value
for AIG Star and AIG Edison by continuing to operate and grow these
companies as part of AIG," said Chief Executive Robert
Benmosche.
According to a Tokyo-based company spokesman, the status of
AIG's other Japanese unit, Alico Japan, remains unchanged.
"We will continue to explore strategic options for Alico Japan,
such as selling it, or via a public listing," he said.
-Tor Ching Li, Dow Jones Newswires; 813-6895-7565, chingli.tor@dowjones.com