Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

AIG Completes Secondary Offering Of Shares In Transatlantic for $1.136b

AIG completes previously announced public offering of 29.9 million shares of Transatlantic Holdings (TRH) common stock for aggregate gross proceeds of $1.136 billion.

AIG has announced the completion of the previously announced public offering of 29.9 million shares of Transatlantic Holdings (TRH) common stock for aggregate gross proceeds of $1.136 billion. This stock was owned by AIG and its indirect subsidiary, American Home Assurance Company (AHAC).

TRH will not receive any of the proceeds from the secondary offering.

The deal enabled AHAC, a subsidiary of AIU Holdings, to sell part of its investment in TRH to enhance the quality of its capital and fuel AIU Holdings continued growth.

After the closure of the secondary offering, AHAC owns 9,192,662 common shares of TRH, constituting about 13.9% of TRH’s common shares issued and outstanding.

The secondary offering was completed through a syndicate of underwriters, led by J.P. Morgan, Goldman, Sachs and Morgan Stanley as joint book-running managers. Lazard Capital Markets LLC served as co-lead underwriter. Fox-Pitt Kelton Cochran Caronia Waller and Dowling & Partners and acted as co-managers.