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Prudential PLC to buy AIG’s Asian arm

British insurance giant Prudential PLC on Mar. 1 announced that it will purchase American International Group Inc. (AIG)’s Asian branch AIA for 35.5 billion USD.
British insurance giant Prudential PLCon Mar. 1 announced that it will purchase American International GroupInc. (AIG)’s Asian branch AIA for 35.5 billion USD.

Prudential PLC will pay 25 billion USD in cash and the remainder instocks and other securities to gain more than 20 million customers inthe region.

AIA has headquarters in Hong Kong , China . It is a 90-year-oldbusiness that manages more than 60 billion USD in assets in 13 marketsin the region.

The sale would be AIG’s largest since it received a US government bailout in 2008.

Prudential is Britain ’s largest insurer with a market capitalisation of around 23 billion USD./.
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