Zurich Financial Completes AIG Auto Units Takeover
Friday, Jul 03,2009, 10:31:40 PM Click:
Zurich said it immediately sold most of the units _ 21st Century Insurance and Agency Auto _ to U.S.-based personal insurer Farmers Exchanges for $1.4 billion.
Zurich doesn't own but manages Farmers Exchanges, meaning the Swiss company will also generate revenue from the car insurance units.
Shares in Zurich Financial were down 1 percent at 192.40 Swiss francs ($177.91).
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