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American Life Insurance Company ALICO, American International Assurance Company, Ltd. AIA to Be Placed in Special Purpose Vehicles.

Publication: Investment Weekly News
Publication Date: 11-JUL-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
American International Group, Inc. (AIG) announced that it has entered into an agreement with the Federal Reserve Bank of New York (FRBNY) that will accomplish two key goals: reducing the debt AIG owes the FRBNY by $25 billion; and positioning two of the company's leading international life insurance franchises, American International Assurance Company, Ltd. (AIA) and American Life Insurance Company (ALICO), for initial public offerings, depending on market conditions.

Under the agreement with the FRBNY, AIG will contribute the equity of...

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