American International Group, Inc. (AIG) announced that it has entered into 10-year bancassurance agreements with HSBC Group companies under which AIG will become the exclusive provider of non-life insurance products to HSBC Group customers in Turkey and France, as well as in other countries in Continental Europe as may be agreed. AIG expects to pay a total consideration of approximately $55 million for the exclusive distribution access in Turkey and France, and expects to launch the partnerships in the first half of 2013.
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