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AIG ‘Shouldn’t Exist,’ Golub Says, Urging Breakup

Harvey Golub, the former chairman of American International Group Inc., said the bailed-out U.S. insurer should be broken up eventually because the firm’s two main businesses have “no strategic fit between them.”

“Longer-term, AIG shouldn’t exist,” Golub said in an interview airing today on Bloomberg Television’s “In the Loop with Betty Liu.” The New York-based company should be split, making independent firms of its Chartis property-casualty unit and SunAmerica Financial Group life insurer, Golub said.