Zurich Financial to buy AIG US unit for $1.9B

CHARLOTTE, N.C. - Insurer American International Group Inc. said Thursday it will sell its car insurance unit, 21st Century Insurance, to Zurich Financial Services Group for $1.9 billion.Under terms of the agreement, Farmers Group will pay $1.5 billion in cash and $400 million in subordinated, euro-dominated capital notes backed by Zurich Insurance Company, AIG said. Farmers will also assume 21st Century's outstanding debt of $100 million.....

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Car Insurance News: Zurich Financial to buy AIG US unit for $1.9B...Get an auto insurance quote!