AIG says it will use IPO to sell life and retirement unit; 'pivots' to growth

American International Group INC (AIG.N) has decided to use an IPO to sell a 19.9% stake in its life and retirement business, Chief Executive Officer Peter Zaffino said on Friday, dashing prospects for potential bidders. AIG weighed interest from competitors, but "at this time, we believe an IPO remains the...