American International Group Inc. is planning to expand its life and retirement business overseas and would consider another multibillion-dollar deal, CEO Brian Duperreault told the Financial Times.
Duperreault said in an interview that the retirement and life division is "very localized" in the U.S. and that he perceives opportunities to expand into other markets, given the global pressures caused by increased life expectancy. Acquiring an existing company would be the preferred route, given the difficulties of starting a life insurer, he added.
AIG is in the process of acquiring Bermuda-based Validus Holdings Ltd. for $5.56 billion. The company is meeting investors June 7 in New York, with life and retirement division chief Kevin Hogan due to set out a strategy for the division that includes M&A, the FT noted.
