Continuing its efforts to recalibrate its business to focus on core operations, AmericanInternational Group Inc.AIG has entered into a strategic agreement with FWD Group, the insurance arm of Pacific Century Group.
Per the agreement, American International will sell its Japan life insurance business AIG Fuji Life Insurance Company, Ltd. (AFLI) to FWD Group.
The timing and the financial terms of the deal has been kept under wraps.
For AIG, Japan remains a major market and the company has been operating in this region for nearly 70 years now. Though this deal will lead the company to relinquish its life business, it is committed to continue with its extensive non-life insurance business in the region.
The non…
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