AIG will sell the Asian arm of its life insurance business to British insurance giant, Prudential P.L.C. This international sale is the biggest since AIG was bailed out by the U.S. government in 2008 and will help the company repay some of its bailout money.
The American taxpayer currently owns 80 percent of AIG, and although this sale won't make a huge dent in the company's debt, it is a significant international business deal. A.I.A is AIG's most profitable company in their most lucrative market and this sale is worth $35 billion. Duncan Bartlett, BBC business correspondent, joins us to explain the news.