American International Group is reportedly making plans to enter the consumer finance business in India, according to AFX.
Plans include launching consumer finance and home loan products, followed by a possible rollout of auto loans and credit cards, AFX reported.
The news site also stated that one route considered by the group to aid its Indian expansion was through the acquisition of established financial services players in the country. The group has already made its mark in the life and non-life insurance, retail, private equity and real estate sectors, the Economic Times reported.
Citing AIG India country head and CEO Sunil Mehta as a source, the Economic Times reported that other business areas identified by the insurer include distressed asset management, mortgage guarantee and core sector investments.