AIG pauses plan for Chartis IPO: report

By IBTimes Staff Reporter | December 22 2009 9:57 AM

U.S. insurer American International Group Inc (AIG.N) has paused its plan for an initial public offering of Chartis Inc, its global property-casualty division, Bloomberg reported.

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AIG chief executive Robert Benmosche told employees he considered the unit a core holding, the news agency said, citing two people familiar with the matter.

Chartis employs about 34,000 around the world and, with a net worth of about $40 billion, is one of AIG's largest divisions.

AIG was not available to comment.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Dan Lalor)

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