American International Group has reduced its holdings in reinsurer Transatlantic Holdings, Inc., to 14 percent netting the New York-based insurer $1.14 billion as it continues to sell off its assets.
New York-based Transatlantic priced the sale of its common stock owned by AIG and the company's subsidiary American Home Assurance Co., at $38 per share.
AIG sold off a total of 29.9 million shares, initially selling 26 million shares with an option to its underwriters to purchase an additional 3.9 million of the company's stock, which they quickly exercised.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
