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AIG chairman: Property & Casualty business fits with Life unit

Insurance giant's Doug Steenland says keeping both businesses is the "right long-term position."

By Sonali Basak, Emma Orr | Updated on May 11, 2016
AIG's chairman says keeping both businesses is the "right long-term position." (AP Photo)

(Bloomberg) —  New York City-based American International Group Inc., which is shrinking under pressure from activist investors, is committed to retaining operations in both Life insurance and Property & Casualty coverage, Chairman Doug Steenland said.

“We remain of the view that that is the right long-term position for AIG,” Steenland said Wednesday at the company’s annual meeting in New York. “Although, the specific components of what’s in each of those businesses may change.”

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