AIG fetches $1.25b from PICC P&C selldown

The US insurance giant executed its third selldown in the non-life insurance arm of PICC in Asia's largest block trade so far this year.

American Insurance Group stunned markets on Saturday with an accelerated bookbuild offering of shares in Chinese insurance firm PICC Property & Casualty that raised a whopping HK$9.7 billion ($1.25 billion).

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