Citigroup's Primerica Is Said to Seek Bids for Unit

Executives at Citigroup Inc.'s Primerica Financial Services unit have approached private-equity firms, including J.C. Flowers & Co., Blackstone Group LP and TPG Inc., to gauge their interest in buying the division's 100,000- person sales arm, said four people with knowledge of the matter.

Executives started the discussions after Citigroup failed to find a buyer for the entire life insurance company during the past year, said the people, declining to be identified as the talks aren't public. Citigroup, the recipient of a $52 billion government bailout, hasn't endorsed the plan, the people said.

Citigroup canceled Primerica's annual sales convention and a trip to the Bahamas for top agents after the government rescue last year...

Bloomberg: Citigroup's Primerica Is Said to Seek Bids for Unit