AIG to sell 10% stake in life and retirement business to Blackstone

1 minute of reading On January 9, 2013, a new sign is erected above the entrance to the AIG headquarters offices in New York’s financial sector. Brendan McDermid/Reuters 14 JULY (Reuters) – AIG.N announced on Wednesday that it would sell a 9.9% ownership in its life and retirement business to Blackstone (BX.N) for $2.2 billion in an all-cash transaction. Nivedita Balu contributed reporting, and Devika Syamnath edited the piece. The Thomson Reuters Trust Principles are our standards. Subscribe to our newsletter. To have the latest exclusive Reuters coverage sent to your inbox, sign up for our daily curated newsletter. After pandemic loan losses failed to materialize and the US economy began roaring back to life, the four largest U.S. consumer banks reported record second-quarter results this week./nRead More