IN BRIEF (Page 17)

AIG to spin off units

American International Group Inc, which received $180 billion of taxpayer bailouts, said it will give the government stakes in two big life insurance units that it plans to spin off.

The embattled insurer said on yesterday it will put the equity of the units, American International Assurance Co (AIA) and American Life Insurance Co (ALICO), into special purpose vehicles, preparing both for initial public offerings.