AIG Selling Auto Insurance

There is a good chance that the auto insurance market may be losing a member. There is talk that the giant American International Group, AIG, may be selling their auto insurance instead of continuing to manage it. Some think this could be the thing to get them back on track, and others think that this is simply not the time to be selling off parts of the company.

AIG has been in the news a lot as of late because of the initial bail out that they needed from the American people, and then because of the bonuses that they were paying out to their high ranking employees. However, the criticisms that have been fired at them may or may not have been just – we don’t work there so we can’t really judge can we?

But the fact of the matter is that they truly seem like they are trying to move forward from here in a way that is best for everyone. They have an arm though that it auto insurance and is branded 21st Century. The government gave them money to help them with parts of the big picture, but their big plan was to sell off other areas. This was not done simply because they have not found buyers for the pieces they need to dump. The company needs to sell of these parts of the company so that the rest of it can remain financially viable.

If they sell their auto insurance arm, those that have policies currently with the company would simply move to the new company – and they would be protected. Currently Zurich Financial Services Group is one of the names that have been handed around as to having an interest in possibly purchasing their auto insurance holdings. The company already sells auto insurance in the US through Farmer’s Insurance Group.

Farmers has a long history in the US of auto insurance policies and is probably the third largest in the nation. This means that if you have auto insurance with AIG and the deal goes through you will be left with auto insurance with another amazing company who really knows their stuff.







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