NPR logo

British Insurer To Buy Asian Unit Of AIG

  • Download
  • <iframe src="https://www.npr.org/player/embed/124188704/124188679" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
British Insurer To Buy Asian Unit Of AIG

Business

British Insurer To Buy Asian Unit Of AIG

British Insurer To Buy Asian Unit Of AIG

  • Download
  • <iframe src="https://www.npr.org/player/embed/124188704/124188679" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

U.S. insurance giant AIG has agreed to sell one of its top performing subsidiaries to British company Prudential. AIG is selling its Asian business for about $35 billion. The move rockets Prudential to a top spot in Asia's insurance market.

RENEE MONTAGNE, host:

NPR's business news starts with a global insurance deal.

(Soundbite of music)

MONTAGNE: The deal involves the infamous AIG. The American insurance company has agreed to sell one of its top-performing subsidiaries to a British company, Prudential. AIG is selling that subsidiary, which is its Asian business, for about $35 billion. The move rockets the British Prudential to a top spot in Asia's insurance market.

AIG will use the money to pay back part of the bailout billions it received from the U.S. government during the financial crisis.

Copyright © 2010 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.