AIG Set to Sell Mortgage Guarantor to Arch for $3.4 Billion

  • Price includes $2.2 billion in cash, plus Arch securities
  • Arch to maintain North Carolina presence, consolidate overseas

American International Group Inc. agreed to sell mortgage insurer United Guaranty Corp. to Arch Capital Group Ltd. as Chief Executive Officer Peter Hancock works to simplify his company and free up capital to return to shareholders.

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