AIG spins off AIG Life and Hartford Steam Boiler
Yesterday, the New York-based insurance giant completed the sale of AIG Life to BMO Financial Group of Montreal for about $263 million.
American International Group Inc. said today that it has closed the sale of two of its business units.
Yesterday, the New York-based insurance giant completed the sale of AIG Life to BMO Financial Group of Montreal for about $263 million.
AIG on Tuesday closed the sale of The Hartford (Conn.) Steam Boiler Inspection and Insurance Co. to Munich Re Group in Germany for $739 million, plus the assumption of $76 million of outstanding HSB capital securities, AIG said in a statement.
“Despite highly adverse market conditions, AIG is working tirelessly to execute an orderly and effective asset disposition plan to repay the U.S. government,” said Edward Liddy, AIG’s chairman and chief executive.
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