AIG in talks to sell Lloyd's insurance business to CPPIB-WSJ

Tue Aug 23, 2016 1:29pm EDT
 
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Aug 23 (Reuters) - American International Group Inc is in early talks to sell Lloyd's of London Ltd's insurance operations to Canada Pension Fund (CPPIB), the Wall Street Journal reported on Tuesday.

If the deal comes through, it could fetch the insurance conglomerate hundreds of millions of dollars in proceeds, the Journal reported, citing people familiar with the matter. (on.wsj.com/2bfo1gj)

CPPIB is also in talks to buy a related reinsurance company based in Bermuda, the WSJ reported.

AIG declined to comment while CPPIB could not be immediately reached. (Reporting by Nikhil Subba in Bengaluru; Editing by Shounak Dasgupta)