AIG gains clearances for Brexit entities as portfolio transfer begins

AIG has received regulatory authorisations for two new insurance
companies in preparation for Brexit, putting it ahead of many
rivals in its contingency planning.
The restructuring entails the creation of two new insurance
companies, one in the UK and one in Luxembourg.
All AIG Europe Ltd business will be transferred to one of the
two new entities ahead of Brexit, the company said.
AIG announced plans to create a subsidiary in Luxembourg to
write across the EU and the European...