AIG’s incoming CEO Peter Zaffino says his firm is working “with willpower and with a way of urgency on a number of fronts” associated to the sale of 19.9% of its Life and Retirement enterprise.
In a fourth quarter earnings name, Zaffino stated he was glad with the standard stage of curiosity from potential companions for the Life and Retirement enterprise and believes that promoting a minority stake could possibly be a pretty possibility for AIG, its shareholders and different events.
On the identical time, the CEO of retirement companies firm Athene instructed Reuters that his firm has expressed curiosity in shopping for a 19.9% share of AIG’s enterprise.
“I do not know what’s going to occur and if we’re within the combine or not, however we’ve got expressed curiosity and we’ll see what occurs,” Athene CEO Jim Belardi stated.
Zaffino added that AIG is rigorously weighing the relative deserves of this path in comparison with a minority IPO, making an allowance for the influence on worth creation for AIG, execution certainty, regulatory and score company implications, and supply. of the long-term Life and Retirement development technique.
“As you already know, any choice we make can be topic to regulatory approvals,” he stated.
“General, I’m very happy with the progress we’re making on the separation and we’ll present an extra replace within the quick time period.”