AIG to sell unit to Arch Capital for $3.4 billion
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AIG, the largest commercial insurer in the United States and Canada, said it would get $2.2 billion in cash, $250 million in Arch Capital's perpetual preferred stock and $975 million in non-voting common-equivalent preferred stock from the sale of United Guaranty Corp.
United Guaranty filed for an IPO of up to $100 million.
Later in March, United Guaranty filed for an initial public offering of up to $100 million with U.S. regulators. ■