AIG, MetLife edge towards spin-off IPOs

摘要

The insurance sector could provide a ready source of IPO deal flow this year as American Insurance Group and metlife each look to bring spun-off units to public markets. Separately, several small-cap insurers and at least one insurance broker are talking to banks about going public over the next 12 months, according to ECM sources. But in a still-tough IPO market and with multiple challenges facing the insurance sector, pricing some or all of these deals could prove a challenge. First flagged in late January as part of a broader overhaul and effort to appease activist investors, AIG's planned sale of its 19.9% stake in its private mortgage insurance unit is likely to come first.