AIG to sell unit to Arch Capital for $3.4 bn
American International Group, the largest commercial insurer in the US and Canada, on Monday said it will sell its mortgage-guarantee unit United Guaranty, to Bermuda-based Arch Capital for about $3.4 billion. Earlier, AIG had said it would separate the unit, cut jobs, and sell its broker-dealer network amid attempts to quickly meet a goal of returning $25 billion to shareholders.