American International Group Inc. is discussing a deal for all or part of its foreign unit, American Life Insurance Co., with MetLife Inc., according to a published report Wednesday that cited people familiar with the matter.

Alico operates in 50 countries, and a deal could offer its rival a chance to expand overseas quickly, The Wall Street Journal said in a report published on its Web site.

AIG must repay tens of billions of dollars to the U.S. after it rescued the firm in September from potential bankruptcy, the newspaper said.