American International Group Inc. has reached an agreement with Unibanco-Uniao de Bancos Brasileiros SA to acquire a 50% stake in Prever SA Seguros e Previdencia, one of the largest private pension companies in Brazil.

The U.S. and Brazilian companies had earlier established a joint insurance venture under which they exchanged ownership of their Brazilian life and general insurance interests. Prever manages pension funds for individuals, corporations, and small to medium-size companies.

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