News & Events

The Firm is representing the outside directors of American International Group in the sale of its Hong Kong based American International Assurance, commonly known as A.I.A., to Prudential plc of Britain in a deal valued at $35.5 billion, including approximately $25 billion in cash, $8.5 billion in face value of equity and equity-linked securities and $2.0 billion in face value of preferred stock of Prudential, subject to closing adjustments.  The transaction has been approved by the boards of directors of both AIG and Prudential, and is expected to close by the end of 2010.  The transaction is subject to approval by Prudential shareholders, regulatory approvals, and customary closing conditions. 

The AIA Group is a leading pan-Asian life insurance organization that traces its roots in the Asia Pacific region back more than 90 years. It provides consumers and businesses with products and services for life insurance, retirement planning, accident and health insurance as well as wealth management solutions. 

The Simpson Thacher team includes: Dick Beattie, Gary Horowitz and Jamie Gamble.