American International Group Inc is expected to announce the sale of its U.S. auto insurance unit to Zurich Financial Services AG later on Thursday, a source familiar with the deal said.

The price of the AIG unit is expected to be between $1.5 billion and $2 billion, but closer to the higher end of the range, the source said.

AIG declined to comment.

(Reporting by Megan Davies; writing by Paritosh Bansal)