Market Overview

AIG to Acquire Aurec Gold's Outstanding Interest in AIG Israel

American International Group, Inc. (NYSE: AIG) announced today that it
has reached an agreement with Aurec Gold Investments Limited (Aurec) to
acquire Aurec's 49.99% interest in AIG Israel Insurance Company Ltd.
(AIG Israel). AIG currently owns 50.01% of AIG Israel, and upon
completion of the transaction AIG Israel will become wholly-owned by
AIG. The transaction is subject to approval by the Israel Insurance
Commissioner.

AIG and Aurec formed AIG Israel in 1996 as a joint venture. The
operation primarily writes personal lines as well as accident & health
and life insurance through a direct distribution platform, and it
encompasses some commercial lines products via brokers. AIG Israel has
achieved steady growth and profitability each year since

See full press release

Posted-In: News Guidance Asset Sales Management M&A

 

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