China PICC in talks with AIG, Scor to buy into $4 bln HK IPO -IFR
Maybe now we're getting some idea why AIG is sitting on $11B in excess capital. They must really believe PICC is a bargain, with even better long term growth prospects, to sit out the last Treasury sale. But if the whole PICC offering is only $4B, AIG must have other plans as well. Sandy should cost them much less than $1B.