OMG, AIG! AIA? PICC? WTH?http://www.fool.com/investing/general/2012/12/20/omg-aig-aia-picc-wth.aspx Jessica Alling
December 20, 2012
Insurance giant AIG (NYSE: AIG) seems to be taking the pay-it-forward mentality to heart. Just days after the U.S. government sold its remaining shares of the previously troubled company, AIG has done the same with its Chinese counterpart, AIA Group. But as American companies expand their Chinese exposure, investors are left asking: Why would AIG divest itself of the remaining AIA shares?
Long history, short ending
As one of the leading P&C insurers around the globe, AIG's final sale of AIA brings up some interesting questions. Though the initial sales helped AIG repay bailout funds, this last sale was not driven by the same motives, since the government's ownership of AIG was closed out last week.