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AIG CEO: Icahn's break-up plan doesn't 'make financial sense'

AIG CEO Peter Hancock speaks during the White House summit on cybersecurity and consumer protection in Palo Alto, California February 13, 2015.

Breaking up American International Group Inc (AIG.N) does not "make financial sense" Chief Executive Peter Hancock said on Tuesday, responding to proposals made by billionaire investor Carl Icahn last week.

Icahn, in one of the largest activist campaigns of the year, wrote to Hancock urging to him to spin off AIG's life and mortgage units into public companies, cut costs more aggressively and give back more to shareholders.

The move would return more cash to shareholders, Icahn had said, and help AIG rid itself of the regulatory burden of being a systemically important...


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