NEW YORK--(BUSINESS WIRE)--May 6, 2016--
American International Group, Inc. (NYSE:AIG) today announced that it
has completed the sale of Advisor Group to investment funds affiliated
with Lightyear Capital LLC, a private equity firm specializing in
financial services investing, and PSP Investments, one of Canada’s
largest pension investment managers. AIG’s agreement to sell Advisor
Group was announced in January 2016.
“We are pleased to complete the sale of Advisor Group,” said Peter
Hancock, President and Chief Executive Officer of AIG. “With this
transaction, AIG has taken another step in simplifying our organization
to become a leaner, more focused insurance company committed to our
vision of being our clients’ most valued insurer.”
Advisor Group is among the largest networks of independent
broker-dealers in the United States, with more than 5,200 independent
advisors and more than 800 full-time employees. Advisor Group is
comprised of four broker-dealers, FSC Securities Corporation, Atlanta,
GA; Royal Alliance Associates, New York, NY; SagePoint Financial,
Phoenix, AZ; and Woodbury Financial Services, Oakdale, MN.
American International Group, Inc. (AIG) is a leading global insurance
organization. Founded in 1919, today we provide a wide range of property
casualty insurance, life insurance, retirement products, mortgage
insurance and other financial services to customers in more than 100
countries and jurisdictions. Our diverse offerings include products and
services that help businesses and individuals protect their assets,
manage risks and provide for retirement security. AIG common stock is
listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com
| YouTube: www.youtube.com/aig
| Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig.
These references with additional information about AIG have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160506005812/en/
Source: American International Group, Inc.
Matt Gallagher, 212-458-3247