American International Group Inc., the insurer bailed out by the U.S., will remove AIG from the name of an auto insurance unit to improve its sale prospects.
AIG will start calling its aigdirect.com business 21st Century Insurance in January, reverting to the brand of a California-based car insurer acquired last year, said Nicholas Ashooh, a spokesman for AIG.
AIG is selling businesses including auto insurance, U.S. life coverage, and a plane-leasing unit to repay the government loan that saved it from bankruptcy in September. The insurer was nearly overwhelmed by bad bets on U.S. housing and has posted about $43 billion in four straight quarterly net losses.
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