Sale could be worth around $500m to US insurer

AIG is selling its remaining 13.8% stake in reinsurer Transatlantic Holdings (TRH) owned by American Home Assurance Company (AHAC), an AIG subsidiary.

Reuters reports that the 9.2m shares are worth about $500m.

In a statement, the insurer said "AHAC currently intends to commence such an offering on or prior to March 9, 2010, concurrent with TRH’s addition to the S&P Midcap 400 Index. AHAC intends to have a portion of the total shares offered reserved for purchase by index funds."