Truce declared between AIG’s CEO and chairman
AIG CEO Robert Benmosche and chairman Harvey Golub will try to resolve their differences after a rift between them arose over the failed sell off of AIA to the Prudential, the Wall Street Journal (WSJ) reports.
At a board meeting last Friday, Benmosche said he wanted Golub to leave or he himself would quit, the WSJ says, citing anonymous sources. The resignation threat came after the board voted down the sale of Asian life insurer, AIA Group that Mr. Benmosche supported.
Benmosche and Golub now agree that AIG should work toward an initial public offering (IPO) for AIA in Hong Kong by year end.
Japanese sale
Separately, AIG is considering a sale of two Japanese life-insurance companies for roughly $5bn, people familiar with the matter said.
