AIG sells part stake in reinsurer Transatlantic

The divestment is part of AIG’s efforts to sell assets and repay government money that allowed the insurer to stay afloat

Troubled US insurance giant American International Group (AIG) has reduced its holding in New York based reinsurer Transatlantic Holdings from around 60% to about 14% after raising $1.14bn in a public share offering of the reinsurer’s common stock.