Zurich may buy AIG auto unit

"AIG may sell its motor insurance business to Zurich following reports that the two companies are engaged in advanced merger talks.
AIG’s values its US motor insurance business, 21st Century, at $2 billion (£1.4 billion).
Zurich would pay for the purchase using mostly non-cash assets. This needs special permission from the Federal Reserve, which requires at [...]" (2009-2-12)
Read more...