The head of American International Group Inc. has a different view of the U.S. life and annuity market than many of his colleagues.
Many big U.S. life insurers have responded to low interest rates, accounting rule changes and sales standards confusion by backing away from the sale of life insurance and annuities.
But companies backed by reinsurers and private equity funds have been buying life and annuity businesses.
Brian Duperrault, AIG’s chief executive officer, says he’s interested, too.x
The topic came up last week during a conference call, when Duperrault was going over AIG’s second-quarter earnings with securities analysts.
The company reported spending $200 million on restructuring at its general insurance unit.
At the life and retirement unit,” we had another quarter of strong earnings and return on equity,” Duperrault said.
Later during the call, an analyst asked Duperrault how he sees opportunities for mergers and acquisitions.