In this Section:

Carriers Bid For Aig's Life Unit

American International Group (AIG) has received bids from MetLife, Inc., and AXA for its American Life Insurance Co. unit, according to a Bloomberg report.

MetLife made an offer of $11.2 billion, but that could drop to $8 billion because of the unit's "worsening" condition, Bloomberg reported. The AXA bid excluded operations in Japan. If AIG doesn't find a deal at the right price, it may shelve the sale or issue shares to the public.

More from InsuranceNewsNet