American International Group Inc. is reportedly in talks with MetLife Inc. to sell one of its largest and most valuable insurance units for between $14 billion and $15 billion.
The deal, if it goes through, would help pay off $9 billion of A.I.G.'s rescue debt to the government, and possibly more, depending on the price. Attempts to sell the unit have faltered for more than a year because of what A.I.G. considered low bids during the financial crisis.
Under the terms now being discussed, MetLife would pay about $14 billion to $15 billion for the A.I.G. subsidiary, which has an attractive foothold in fast-growing Asian markets, according to people briefed on the negotiations. That price suggests a large premium above the unit's current price although the economics of the industry have gyrated in the last two years.
Alico is an international life and health insurance business that operates in more than 50 countries around the world.