In AIG’s largest deal since its restructuring efforts, the insurer and Prudential plc agreed upon terms of the sale of AIA Group Ltd. Prudential will purchase the pan-Asian life insurance company for approximately $35.5 billion, including approximately $25 billion in cash, $8.5 billion in face value of equity and equity-linked securities and $2.0 billion in face value of preferred stock of Prudential, subject to closing adjustments.
The transaction includes all of the companies of the AIA Group operating in 15 geographical markets across Asia Pacific, including the company's international network of more than 320,000 agents and approximately 23,500 employees serving the holders of more than 23 million in-force policies and the more than 10 million participating members of its clients for group life, medical, credit life coverage and pension products.
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