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American International Group said it has closed the sale of its interest in reinsurer Transatlantic Holdings, Inc., reducing its holdings in the company to 14 percent and netting the New York-based insurer $1.14 billion.

The Public Entity Risk Institute, a nonprofit risk management training and education group, said it has released a book with the latest research and developments in emergency management.

Claims Magazine is twittering every day about breaking news and timely topics. Find out what we tweeted about this week and last.

Threats such as piracy, kidnapping and government expropriation of businesses are being exacerbated by the global financial crisis, Lloyd's warns in a report on political instability released today.

A House Republican financial regulation plan, due to be unveiled tomorrow, would require congressional authorization for aid to troubled non-banks such as American International Group but would not disturb state insurance regulation.

The multiline, risk management program will serve customers, agents and brokers.

Workers' compensation will be offered through PartnerOne Environmental.

The rating reflects the company's continued underwriting and operating profitability, solid capitalization and well-established local market presence in California.