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AIG to sell Central American operations

Posted On: Oct. 15, 2015 12:00 AM CST

ASSA Compañía Tenedora S.A. and ASSA Compañía de Seguros will acquire 100% of American International Group Inc.'s operations in El Salvador, Guatemala, Honduras and Panama in a share purchase agreement, the companies announced Thursday.

The companies are not disclosing financial details of the transaction, according to an AIG spokesman.

In connection with the transaction, AIG and Panama City-based ASSA “will establish an ongoing business partnership to pursue new opportunities and continue to deliver innovative products and unique customer experiences in Central America,” said the companies in a statement.

Until the transaction receives regulatory approvals, “all operations, branches, products and benefits will continue to operate as usual. ASSA and AIG will work together to ensure a smooth transition for customers and employees,” according to the statement.