NU Online News Service, Sept. 5, 10:24 a.m. – American International Group Inc., New York, says it is moving to realign its operations now that it has completed its acquisition of American General Corp., Houston.
AIG will operate American General as a wholly owned subsidiary under the American General name, but Maurice Greenberg, chairman of AIG, will replace Robert Devlin as chairman of American General, AIG says.
Devlin, who "decided to resign," will continue to serve the combined company as a consultant, AIG says.
AIG also sketched out its plans for its U.S. life insurance, retirement services and asset management operations.