U.K. insurer mulls purchase of AIG units

Great Britain’s second largest life insurer, Prudential PLC, is considering buying some of American International Group Inc.’s business units, the Financial Times reported today. London- based Prudential is interested in buying parts of AIG’s Asian and U.S life businesses, the Financial Times said, citing people familiar with the situation. “I think you would expect us to look at the assets in AIG as they go through their disposal process,” Prudential chief executive Mark Tucker told the Financial Times. New York-based AIG has been battered by losses from credit default swaps it originated and as a result announced early this month that it would jettison unspecified business units (InvestmentNews, Oct. 3). The insurance giant received an $85 billion bailout from the federal government last month to meet liquidity needs (InvestmentNews, Sept. 17). “We have previously said that we would be interested in bolt-on acquisitions in line with our strategy and if the price is right, but we have nothing to announce,” a Prudential spokesman said in a statement. Prudential PLC is unrelated to Prudential Financial Inc. of Newark, N.J.