AIG Asset Sales Near $100 Billion With Mortgage Unit Exit: Table

American International Group Inc. has divested more assets than most companies ever accumulate. AIG, still one of the largest insurers in the world, has sold dozens of units since 2008, first to repay a bailout and then to simplify the company and generate funds for share buybacks.

The buyers range from Aabar Investments PJSC to Zurich Insurance Group AG. And while AIG hasn’t disclosed the price of every transaction, Chief Executive Officer Peter Hancock said in November that the total was more than $90 billion. The figure climbed with subsequent deals, including this week’s agreement to sell a mortgage insurer for $3.4 billion. The table below lists key sales:

Date announcedUnitBuyerPrice (Millions)
Sept. 2008London airport stakeCredit Suissen/a
Nov. 2008Stake in Brazil ventureUnibanco$820
Dec. 2008AIG Private Bank Ltd. Aabar$308*
Dec. 2008German insurance unitAugur Capital$26
Dec. 2008Hartford SteamMunich Re$815*
Jan. 2009Canadian life unitBank of Montreal$263
Jan. 2009Commodity index unityUBS AG$15**
Jan. 2009Philippines units East West Banking$49
Feb. 2009Thai unitsBank of Ayudhya$45
March 2009Taiwan securities unitBank of E. Asian/a
April 200921st Century InsuranceZurich$2,000*
May 2009Japan headquartersNippon Life$1,200
June 2009Argentine finance unitsBanco de Galicia$69
June 2009Transatlantic HoldingsPublic offering$1,136+~
June 2009New York headquartersKumhon/a
June 2009Mexican financeAfirme, Consorcion/a
June 2009Russian bankBanque PSAn/a
June 2009Taiwan credit-card unitFar Easternn/a
June 2009ForEx platformBNP Paribasn/a
July 2009Life insurance financeWintrust$680^
July 2009Polish consumer financeBanco Santandern/a
Aug. 2009Energy assetsMultiple buyers$1,900^^
Aug. 2009Hong Kong financeChina Construct.$70
Aug. 2009India information tech.Mphasisn/a
Sept. 2009AIG InvestmentsPacific Century$500
Dec. 2009Israeli mortgage insurerHarel Insurance$36
Jan. 2010Canada mortgage insurerOntario Teachersn/a
March 2010AlicoMetLife$16,400
March 2010Transatlantic HoldingsPublic offering$452~
April 201053 ILFC planesMacquarie Group$1,987
Aug. 2010American General FinanceFortress$125
Sept. 2010Star, EdisonPrudential Fin.$4,800*
Oct. 2010AIA Group Ltd.Public offering$20,500+~
Jan. 2011Nan Shan LifeRuen Chen$2,160
April 2011Railroad leasingPerella Weinbergn/a
July 2011New Jersey apartmentsMultiple buyers$242
March 2012AIAShare sale$6,000~
June 2012Two runoff unitsWhite Mountains$35
Sept. 2012AIAShare sale$2,000~
Dec. 2012AIA Share sale$6,450~
Dec. 2013Aircraft-leasing unitAerCap$7,600#
March 2015PICC P&CPublic offering$501~
June 2015Consumer operationNan Shan$158
SeptemberChartis AzerbaijanAzre Tekrarsigortan/a
OctoberCentral America operationAssa Cia. de Segurosn/a
DecemberPICC P&CPublic offering$752~
JanuaryAIG Advisor GroupLightyear, PSPn/a
AprilPICC P&CPublic offering$1,250~
AugustUnited GuarantyArch Capital$3,400
Total of disclosed sums:$84,744

Notes: Some company names have been abbreviated for space.

*Includes assumed debt.

**Excludes potential $135 million payment based on future performance.

+Includes sale of additional shares later in the month.

~AIG divested in multiple offerings.

^Excludes potential purchase of assets for $61.2 million.

^^Includes previously disclosed deals such as Spanish solar plants to HG Capital, interests in oil and gas contracts to an undisclosed buyer and stakes in gas storage and marketing ventures to Tenaska.

#Includes $3 billion in cash and 97.6 million AerCap shares. Valuation is based on AerCap’s May 13 closing price.

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