American International Group, as part of the firm's move to liquidate assets, will change the name of its AIG Direct auto insurance unit back to 21st Century Insurance.
In another move, AIG was reported to be near completion of arrangements to sell off its aircraft leasing unit, International Lease Finance Corp. in Los Angeles. Spokesperson Peter Tulupman said he could not comment.
Mr. Tulupman said the name change for the auto unit would take place in January. AIG Direct is the company's direct personal lines automobile insurance operations. AIG Agency Auto provides personal lines insurance through a network of independent agencies and brokerages throughout the United States, and AIG Hawaii.
Last month Anthony J. DeSantis, the chief operating officer of AIG Direct, was named president and chief executive officer of American International Group's personal auto group replacing Bruce Marlow. Also then 6.6 percent of the workforce was reduced.
Mr. Marlow had held his post since 2007 when AIG merged with 21st Century Insurance Group in Woodland Hills, Calif.
He left the company three days after layoffs of more than 200 AIG Direct employees at the Woodland Hills office.
Mr. Tulupman said that there would be closings of offices in 12 cities connected with the auto insurance operations. He said he could not disclose which offices were involved.
By some estimates the sale of the auto division could raise $2 billion and the aircraft leasing $10 billion.
AIG was forced to sell an 80 percent interest to the government to obtain billions in loans after losses at its financial products unit pushed it to the brink of bankruptcy.
The sales are aimed at repaying $150 billions in loans.
This article updated Nov. 25,1:57 p.m.
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