Skip to main content

noComment
Munich Re snaps up HSB from AIG

corporate

| |

German reinsurer Munich Re has bought AIG’s HSB group for 531 million euros in cash as the American giant struggles to raise money to pay off a huge US government loan.

In 2000 AIG bought HSB for 859 million euros, and last year it delivered profits of over 100 million euros to AIG. Munich Re says the purchase is funded entirely from existing resources, and is a way of expanding its US business without affecting dividends or its share buyback programme.More about: ,

Copyright © 2012 euronews

| |

Login

Please enter your login details

Join the euronews community

By joining euronews’ community , you can participate to U talk and I talk and subscribe to our newsletters.
Please note: All fields are required