AIG Buys Royal & SunAlliance Japan Unit
NU Online News Service, Nov. 11, 3:45 p.m. EDT?Subsidiaries of American International Group in Japan have purchased the insurance portfolio of Royal & SunAlliance's branch operations in Japan for ?92 million,(U.S.$169.5 million).[@@]
The AIG subsidiaries making the purchase are American Home Assurance Co. and AIU Insurance Co. AIG officials said it expects ongoing annual gross premiums of approximately 11 billion yen, or $103 million, from the acquisition. The book of business will be administered through the existing AIU and American Home infrastructure in Japan, AIG officials said.
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