American International Group Inc. said Wednesday it will launch a securities business in Japan next week targeting institutional investors.
The move by the major U.S. financial group comes amid recent withdrawals by foreign securities companies after failing in businesses targeting individual customers.
The business is to be launched May 22.
The group said it will tie up with its group companies to offer customers financial products that combine stocks and bonds in the form of privately placed investment trusts.
AIG said it will pay close attention to demand-for-asset management by institutional investors, and take advantage of the group's management knowhow to provide customers with low risk products.
It operates in about 130 countries and regions, handling financial services including casualty insurance, life insurance and asset management.
AIG runs some member companies in Japan, including nonlife insurer AIU Insurance Co. and life insurer American Life Insurance Co. (Alico Japan).