Analysts claims it a “small sign of progress” and shares rise
AIG has sold a majority of the US life insurance premium finance business of AIG Credit and AI Credit Consumer Discount to First Insurance Funding, a subsidiary of Wintrust Financial Corp for $679.5m, Reuters reports
AIG's share price rose 3.6%, or 47 cents, to $13.47 in afternoon trade on the New York Stock Exchange.
David Havens, an analyst at Hexagon Securities, called the sale "an additional (small) sign of progress at AIG," in a research note.
