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AIG To Sell Remaining Stake In Transatlantic

IBR Staff Writer Published 08 March 2010

American International Group has planned to sell in a public offering the remaining 9,192,662 million shares of common stock of Transatlantic Holdings, owned by its subsidiary American Home Assurance Company (AHAC).

According to AIG, the 9,192,662 million common shares of Transatlantic held by AHAC represents approximately 13.8% of Transatlantic common shares issued and outstanding.

In addition, the company said that AHAC has planed to commence such an offering on or prior to March 9, 2010, concurrent with Transatlantic's addition to the S&P Midcap 400 Index. AHAC intends to have a portion of the total shares offered reserved for purchase by index funds.

AIG is an insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer.