Icahn urges AIG to become a "simpler" company

Reuters

Billionaire investor Carl Icahn on Tuesday urged American International Group Inc to become "a smaller, simpler" company.

"There is only one sensible path for AIG to follow: become a smaller, simpler company with a path to de-SIFI," Icahn said in an open letter to the insurance company's board.

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AIG, the largest commercial insurer in the United States, said it continued to take steps to narrow its focus and would provide an update on its strategy on Jan. 26. (http://bit.ly/1JWgSlt) (Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty)