12 January 2009

AIG's rebranded auto unit to be amongst first sold

Bloomberg.com: Worldwide: "Jan. 7 (Bloomberg) -- American International Group Inc., the insurer that renamed its U.S. auto business this week to prepare the operation for potential buyers, may find that unit among the easiest to sell, analysts said.

Zurich Financial Services AG, Allstate Corp. and Travelers Cos. would each benefit from owning New York-based AIG’s 21st Century Insurance, which sells policies over the Internet, said Paul Newsome, an analyst at Sandler O’Neill & Partners. The unit’s name was changed from aigdirect.com, reverting to the brand of a business acquired in 2007."

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