INSURANCE
From Times Staff and Wire Reports
Aetna May Sell Subsidiary: Aetna Life & Casualty Co., one of the nation’s biggest insurers for the life and property and casualty markets, said it is considering the sale of its American Re-Insurance Co. unit to the buyout group Kohlberg Kravis Roberts & Co. Analysts said Aetna needs to raise money to offset potential problems in its real estate investment portfolio. Aetna had $1.4 billion in problem real estate loans last year. Analysts said the sale would net the insurance giant between $1 billion and $2 billion.
