American International Group Inc. has agreed to acquire the GE Edison Life Insurance Co. in Japan and GE's U.S.-based auto and home insurance business, AIG has announced

Risk & Insurance, Sept 15, 2003

American International Group Inc. has agreed to acquire the GE Edison Life Insurance Co. in Japan and GE's U.S.-based auto and home insurance business, AIG has announced, The value of the transaction is between $2.1 and $2.2 billion. The transaction represents a "significant opportunity" to expand AIG's presence in the Japanese life insurance market, said AIG Chairman Maurice Greenberg, in a statement.