AIG sells Latin American and CEE operations to Fairfax Financial for $240m
Insurer says sales are part of focusing on major economies with greatest profitable growth potential.
AIG has agreed to sell its local commercial and consumer insurance operations in Argentina, Chile, Colombia, Uruguay, Venezuela, and Turkey to Fairfax Financial Holdings.
Fairfax, a global property and casualty insurer and reinsurer, will also acquire renewal rights for the portfolio of local business written by AIG's Central and Eastern European (CEE) operations in Bulgaria, Czech Republic, Hungary, Poland, Romania, and Slovakia, and assume AIG's CEE operating assets and employees.
Fairfax is
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