There’s no official statement yet from Philamlife, but AIG issued a late advisory that it will no longer sell its crown jewels including the local office. Read the story here.

I am almost disappointed. Consolidation is always good for any industry. A sale to BPI, BDO or some other big player could only push the others to offer the public with better products.

The flipside is that the sale might put pressure on the buying entity to recover its investments, and this could mean dividends originally meant for policyholders could be lessened. Would a need to repatriate earnings to AIG have the same effect? I guess we will soon see.
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