AIG Moves Forward with Plans for New Insurance Unit

American International Group (AIG) said Monday it has created the "special purpose vehicle" needed to split off its commercial insurance units and other lines in a bid to change its brand and sell a minority stake in the new entity.AIG said it has launched AIU Holdings, subject to regulatory approval, and named Kristian P. Moor, executive vice president of the insurance giant's property and casualty group, to head the new unit.The new entity would house AIG's current commercial insurance, foreign general insurance and private client insurance businesses.AIG Chairman and CEO Edward Lidd...