AIG is in talks with MetLife Inc. to sell one of its largest insurance units for between $14 billion and $15 billion, according to news reports citing people familiar with the matter.
The two companies have been in discussions for months about a potential deal for AIG’s American Life Insurance Co., known as Alico, the Wall Street Journal and New York Times reported.
Alico is an international life and health insurance business that operates in more than 50 countries around the world. AIG was bailed out by the government in September 2008 at the peak of the credit crisis.
As losses continued to pile up, the government eventually extended AIG an aid package worth more than $180 billion and took a stake of nearly 80 percent in the company.
