Last week, AIG announced aggressive actions to create a leaner, more profitable and focused insurer. Some have called for a three-way break-up of our business, stating there is no reason that AIG's Life and Property & Casualty (P&C) operations should stay together.
There is no doubt that our industry is undergoing significant change. Insurance companies of tomorrow will look very different from today. However, a split-up of AIG in the near-term is not the right path. It would hurt our shareholders as well as our other stakeholders: our customers, regulators and employees.
Material amounts of value would be at risk as we would sacrifice the benefits of our valuable deferred tax assets, diversification benefits, diverse earnings streams and scale efficiencies including shared services. Over the next two years, our plan will return at least $25 billion of capital to our shareholders.