Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Prudential Resumes Discussion With AIG

The sale of AIG’s Star Life and Edison Life operations may yield more than $3 billion

Prudential Financial has resumed discussions with American International Group (AIG) for the take over of two Japanese insurance units – reported in Bloomberg.

According to the company, the sale of AIG’s Star Life and Edison Life operations may yield more than $3 billion. A rival bid for the units from Manulife Financial is no longer under active discussion. Prudential and AIG are not close to reaching an agreement on a transaction, and the talks could fall apart.

The sale of the Japanese businesses could benefit AIG, after the firm buckled in September and was rescued with a US government bailout worth $182.5 billion.

AIG has announced sale of assets to raise a total of more than $6.7 billion.