Argentina?s Aetna Vita goes to American Life

NEW YORK � American International Group�s (AIG) life insurance subsidiary has agreed to buy an Argentinean rival. No price has yet been announced forthe deal which sees American Life Insurance Company (ALICO) take over AetnaVida, a wholly owned subsidiary of ING Americas. "As Latin American countries prosper and the middle class grows, the need for life insurancehas become that much more important," said R Kendall Nottingham, ALICO chairman.