November 25, 2019 / 10:19 PM / 11 days ago

AIG to sell stake in Fortitude Re for $1.8 bln

Nov 25 (Reuters) - U.S. insurer American International Group Inc said on Monday it would sell a 76.6% stake in reinsurance company Fortitude Re to buyout fund Carlyle Group and Japan’s T&D Holdings for about $1.8 billion.

Following the deal, Carlyle and its fund investors will own 71.5% of Fortitude Re, while T&D will have a 25% stake. AIG will hold a 3.5% stake in the company. (Reporting by Abhishek Manikandan in Bengaluru; Editing by Anil D’Silva)

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