AIG closes sale of majority stake in Transatlantic
Transatlantic Holdings president and CEO Robert Orlich issued an open letter to the reinsurers' clients and brokers after American International Group (AIG) closed its sale of 29.9 million shares at $38 each, reducing its 59 percent stake in the company to 13.9 percent.
The deal - which closed on 10 June - grosses AIG approximately $1.14bn.
Transatlantic Re shares were trading up 2.25 percent at $45.54 at the time of writing (12 June), recovering from lows of $26.16 in early...
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