AIG To Spin Off Property Casualty Operations

Law360, New York (March 10, 2009, 12:00 AM EDT) -- American International Group Inc. is taking steps to restructure by forming a new holding company that will house its commercial insurance group, its foreign general unit, and other property and casualty operations.

The New York-based insurer announced on March 2 its plans to establish AIU Holdings Inc. AIU will have a board of directors, management team and brand that are set apart from AIG.

“The establishment of AIU Holdings Inc. will assist AIG in preparing for the potential sale of a minority stake in the business,...
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