American International Group Inc. (AIG) is actively engaged in talks to sell its U.S. auto insurance unit to Swiss insurer Zurich Financial Services, CNBC reports on its Web site. A source familiar with the matter said the auto insurance business is expected to fetch around $2 billion.
Part of AIG's U.S. personal lines unit, the auto insurance business includes selling products to high net-worth individuals through its AIG Private Client division. AIG CEO Edward Liddy previously said the private client division is not being sold.
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