(Bloomberg) — American International Group’s Sid Sankaran, who has been designated to be the insurer’s next chief financial officer, said that activist investor Carl Icahn’s proposal to break up the company would punish investors by jeopardizing tax assets and pressuring capital measures.

“There are material amounts of shareholder value at risk in a separation of the non-life and life companies,” Sankaran said in a video message posted on the New York-based company’s website Monday.


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