AIG to offload $1.25bn stake in PICC

AIG is set to sell $1.25bn of PICC P&C shares in what will be
the third major sale of the Chinese insurer's stock by the
insurance giant in just over a year.
The sale of 740 million ordinary H shares will bring the US
carrier's stake in its Chinese counterpart down to less than 1
percent.
The shares will be transferred to a panel of institutional
investors for HK$13.08 ($1.69) per share in a transaction that is
set to close...