(MENAFN) American International Group Inc. said it will sell a portfolio worth USD2bln of life settlements that would pay out when sick or elderly customers die.
The largest insurer in US and Canada, AIG, is working with investment bankers at Goldman Sachs Group Inc. to unload the assets.
While AIG declined to comment, the insurer is trying to sell or wind down, and the company's spokesman said it is committed to its core life insurance business.
And he said: "We are making investments to grow it by collaborating with our distribution partners and strengthening our service platforms, resulting in increased sales."
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