AIG's US auto unit may fetch about $2 bln - source
Published: 10 Feb 2009 17:34:38 PSTNEW YORK, Feb 10 - American International Group Inc's U.S. auto insurance business is expected to fetch around $2 billion in a sale, a source familiar with the matter said on Tuesday.
The insurer is in advanced talks to sell the business to Zurich Financial Services AG, according to the source.
The auto insurance business is part of AIG's U.S. personal lines unit, which also includes selling products to high net- worth individuals through its AIG Private Client division. AIG Chief Executive Edward Liddy has said the private client division is not being sold.
AIG and Zurich declined to comment. (Reporting by Paritosh Bansal; Editing by Andre Grenon)
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