AIG to Invest $92.5 Million in PICC Offering With Stake at 9.9%

May 20 (Bloomberg) -- American International Group Inc., the insurer that repaid a U.S. bailout last year, said it will invest about HK$718.1 million ($92.5 million) in a rights offering in PICC Property & Casualty Co.

AIG’s stake will be 9.9 percent after the purchase, the New York-based insurer said today in a statement distributed by Business Wire.

To contact the reporter on this story: Dan Kraut in New York at Dkraut2@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net