AIG Completes Sale of Validus Re to RenaissanceRe
01 Novembro 2023 - 10:12AM
Business Wire
American International Group, Inc. (NYSE: AIG) today announced
that is has successfully completed the previously announced sale of
Validus Re to RenaissanceRe. AIG received total consideration of
$3.3 billion in cash, including a pre-closing dividend, and
approximately $275 million in RenaissanceRe common shares.
As disclosed in May 2023, AIG will retain Talbot Underwriting
and Western World, which the company purchased as part of its
acquisition of Validus Holdings, Ltd. in 2018.
Evercore Group L.L.C. and J.P. Morgan Securities LLC acted as
financial advisors, and Wachtell, Lipton, Rosen & Katz and
Debevoise & Plimpton LLP acted as legal counsel for AIG.
About AIG
American International Group, Inc. (AIG) is a leading global
insurance organization. AIG member companies provide insurance
solutions that help businesses and individuals in approximately 70
countries and jurisdictions protect their assets and manage risks.
For additional information, visit www.aig.com. AIG common stock is
listed on the New York Stock Exchange.
AIG is the marketing name for the worldwide operations of
American International Group, Inc. All products and services are
written or provided by subsidiaries or affiliates of American
International Group, Inc. Products or services may not be available
in all countries and jurisdictions, and coverage is subject to
underwriting requirements and actual policy language. Non-insurance
products and services may be provided by independent third parties.
Certain property casualty coverages may be provided by a surplus
lines insurer. Surplus lines insurers do not generally participate
in state guaranty funds, and insureds are therefore not protected
by such funds.
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version on businesswire.com: https://www.businesswire.com/news/home/20231031988667/en/
Quentin McMillan (Investors): quentin.mcmillan@aig.com Dana
Ripley (Media): dana.ripley@aig.com
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