WSJ : AIG In Talks To Sell Lloyd's Insurance Business To Canada Pension Fund

(RTTNews) - American International Group Inc. (AIG) is in early discussions to sell insurance operations connected with Lloyd's of London to Canada's biggest pension fund, the Wall Street Journal reported citing people familiar with the matter.

Canada Pension Plan Investment Board is in talks to acquire AIG's business at Lloyd's of London, and a related reinsurance company based in Bermuda, the report said.

The report indicated that a transaction, if completed, could fetch the insurance conglomerate hundreds of millions of dollars in proceeds.

The two sides, though, may fail to reach a final pact, the report said.