NEW YORK--Apr. 2, 2009--
American International Group (AIG) today announced that it has closed
the sales of two business units this week.
Yesterday, AIG completed the sale of AIG Life of Canada to BMO Financial
Group for approximately $263 million. The Company on Tuesday closed the
sale of Hartford Steam Boiler to the Munich Re Group for $739 million,
plus the assumption of $76 million of outstanding HSB capital securities.
“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
Officer. “In the past few months, we have reached agreements on the sale
of 10 businesses. Several other transactions are under discussion, and
we continue to evaluate how best to assure the continued strength and
success of all of AIG’s businesses for the benefit of all AIG
American International Group, Inc. (AIG), a world leader in insurance
and financial services, is the leading international insurance
organization with operations in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional and
individual customers through the most extensive worldwide
property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement services,
financial services and asset management around the world. AIG's common
stock is listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.
Source: American International Group, Inc.
American International Group, Inc.