<p style="line-height: 18.9091px;">AIG has sold its Advisor Group broker/dealers to Lightyear Capital, a private equity firm, and PSP Investments, a Canadian pension fund investment manager, the insurer announced Tuesday morning. The deal is expected to close in the second quarter 2016; terms were not disclosed.</p>
<p style="line-height: 18.9091px;">“It’s a business we’re not the best owner of, particularly in light of potential Department of Labor rules,” said Peter Hancock, president and CEO of AIG.</p>