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AIG says BlackRock will manage up to $150 billion of its assets

The insurer has been sharpening its focus on its core operations and making necessary preparations to split off its life and retirement unit, which is planned for the first half of this year

AIG says BlackRock will manage up to $150 billion of its assets
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Max Reyes and Silla Brush | Bloomberg
American International Group Inc. struck a deal with BlackRock Inc. to handle as much as $150 billion of its assets as the insurer continues to prepare for an initial public offering of its life and retirement business.

BlackRock will manage as much as $60 billion of AIG’s global investment portfolio, and as much as $90 billion of its life and retirement investment portfolio, the New York-based companies said in a statement Monday. Additionally, BlackRock’s Aladdin platform will provide investment-management technology for both AIG and its life and retirement business.

The insurer has been sharpening its focus on its core operations and making
Topics : BlackRock

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First Published: Mar 28 2022 | 11:53 PM IST

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