Prudential to sell AIG stake in insurance JV to Tatas

It is official now. UK-based Prudential Plc, which had earlier announced its decision to take over the Asian operations of financially-battered American International Group s (AIG) Asian life operations, has now said that it would sell AIG s 26% stake in Tata-AIG Life Insurance in India to the Tatas. An international agency has quoted Prudential CEO Tidjane Thiam saying the insurer plans to sell its stake in Tata AIG India joint venture to the Tatas, who own 74% in the life insurance JV. Prudential had acquired AIG s Asia business for $ 35.5 billion on March 1. Earlier, the Tata Group had announced ...

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