AIG returns with $193m PICC P&C block

US insurer ended 13 years of stock ownership in PICC’s property and casualty arm by executing its fourth block sale on Saturday.

American Insurance Group capitalised on a strong rally in the US stock market to sell its remaining stake in Chinese insurer PICC Property & Casualty for HK$1.5 billion ($193 million) through a block trade over the weekend.

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