M&A - AIG plans exit from international life business


Stricken US financial giant American International Group (AIG) has negotiated a debt-for-equity swap with the Federal Reserve Bank of New York (FRBNY) aimed at eventually offloading the insurer's international life insurance presence.

The proposed deal includes AIG subsidiaries American International Assurance (AIA) and American Life Insurance Company (Alico), which together hold the group's entire non-US life insurance businesses.

Under the terms of the deal, special purpose vehicles (SPVs)

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