AIG Completes GE Purchase
|NU Online News Service, Aug. 29, 11:09 a.m.EDT?American International Group Inc. said it completedacquisition of GE's U.S.-based auto and home insurance business andthe GE Edison Life Insurance Co. in Japan today.
|New York City-based AIG said the transaction, first announced inJune, is valued at between $2.1 and $2.2 billion
|The GE property-casualty insurance companies acquired by AIGwill operate together with AIG's Domestic Personal Linessubsidiaries, the carrier said.
|The Japanese life insurance company will be renamed AIG EdisonLife Insurance Company subject to Japanese regulatoryapprovals.
|AIG said its companies have operated in Japan for more than 50years. AIG's existing life insurance businesses operate therethrough American Life Insurance Company and AIG Star Life InsuranceCo., Ltd.
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