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To gain a better foothold of the German insurance market, American International Group, popularly known as AIG, is buying a German casualty insurer from a private equity firm J.C. Flowers. The portfolio being bought by AIG comprises Wurttembergische und Badische Versicherungs- AG, DARAG Deutsche Versicherungsund Ruckversicherungs-AG. Major subsidiary and other minor subsidiaries are part of the deal. The insurer is tight-lipped about the deal value. The acquisition is yet to receive the regulatory and other allied approvals and is expected to close no later than late 2007.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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