AIG Looking For Acquisitions

February 13, 2001

American International Group is on the lookout for acquisitions both in the United States and overseas, according to a statement made by Chairman Maurice Greenberg during a meeting with analysts and money managers that also was open to limited public access.

The meeting replaced Greenberg’s two annual fireside chats, which were restricted to analysts — one meeting for “buy side” analysts, representing money-management firms, and the other for “sell side” analysts, representing Wall Street securities brokers.

The insurer has been expected for some time to make a major purchase in U.S. insurance or asset management, and is in talks to take over financial firms in Japan and South Korea. The company’s last large state-side purchase was U.S. annuities seller SunAmerica, which AIG bought for about $18 billion three years ago.

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