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AIU Divests Stake In Transatlantic For $500m

AIU Holdings divests a part of its investment in Transatlantic Holdings for about $500 million in cash. The transaction is in relation to the closing of the secondary offering of TRH shares.

AIU Holdings (AIU) has divested a part of its investment in Transatlantic Holdings (TRH) for about $500 million in cash. The transaction is in relation to the closing of the secondary offering of TRH shares. The divestiture further strengthens AIU’s position as independent, global property casualty insurer.

The move is a part of AIU’s strategy to sell non-core, affiliated investments. The deal positions AIU as an independent entity in preparation for the potential sale of a minority stake in the business, which ultimately may include a public offering of shares, depending on market conditions.

AIU continues to own 9,192,662 common shares of TRH through its subsidiary, American Home Assurance Company.

Kristian P. Moor, president, AIU Holdings, Inc., said: “The TRH transaction is a meaningful step forward toward clarifying AIU Holdings’ business portfolio, while improving its quality of capital to help position the company for continued success in the future.”