Paulson, McGee
Paulson, the billionaire hedge fund manager who is also an AIG investor, is quoted in the letter saying that the insurer could trade for more than $100 a share if it split into three, reduced expenses, repurchased stock and matched average industry returns. Paulson in 2012 urged Liam McGee, then the CEO of Hartford Financial Services Group Inc., to separate its life insurer from the property-casualty operation.
McGee subsequently sold assets to simplify his company and won praise from Paulson. Travelers and life insurer Prudential Financial Inc. are among AIG rivals that sold units in prior years to narrow their focus.
Paulson, McGeePaulson, the billionaire hedge fund manager who is also an AIG investor, is quoted in the letter saying that the insurer could trade for more than $100 a share if it split into three, reduced expenses, repurchased stock and matched average industry returns. Paulson in 2012 urged Liam McGee, then the CEO of Hartford Financial Services Group Inc., to separate its life insurer from the property-casualty operation.McGee subsequently sold assets to simplify his company and won praise from Paulson. Travelers and life insurer Prudential Financial Inc. are among AIG rivals that sold units in prior years to narrow their focus.
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