AIG sells in Colombia

AIG has agreed to sell its 100% stake in Inversora Pichincha SA and Interdinco SA, which together comprise AIG’s consumer finance operations in Colombia. Banco Pichincha C.A. of Ecuador has agreed to buy the businesses. Terms of the transaction were not disclosed. Inversora Pichincha is a leading provider of consumer finance products in Colombia, offering vehicle financing, personal loans, student loans, insurance premium financing, commercial loans, credit cards and retail deposits. In addition to 19 branches in Colombia, Inversora Pichincha has distribution agreements with more than 100 motor dealerships, 274 state entities and 1,500 companies.