NEW YORK (AP) - Activist investor Carl Icahn is pushing American International Group Inc. to split up into smaller insurance companies to boost its value to shareholders.

NEW YORK (AP) Activist investor Carl Icahn is pushing American International Group Inc. to split up into smaller insurance companies to boost its value to shareholders.

Icahn said he has taken a large stake in the insurer, but did not specify its size. A representative for Icahn was not available for comment Wednesday.

In a letter sent to AIG and posted on his website, Icahn says that AIG should separate the company's life and mortgage insurance company and create three separate, publicly-traded companies. Icahn says splitting up AIG would also make it more competitive.

AIG confirmed that it had received the letter and CEO Peter Hancock said in a printed statement that significant steps have been taken to reposition AIG by simplifying and lowering risk at the company.