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AIG Stock Up, Nears $3.4 Billion Sale of Mortgage Insurance Unit to Arch Capital

NEW YORK (TheStreet) -- Shares of AIG (AIG) were climbing mid-Monday afternoon as the company nears a deal with Arch Capital Group (ACGL) to sell its mortgage-guaranty unit for about $3.4 billion, the Wall Street Journal reports.

The deal could close by the end of this week.

AIG, based in New York, holds a 20% market share in the mortgage-insurance sector in the U.S. Its mortgage-guaranty unit is one of its best performing segments

However, this unit is still smaller than AIG's other businesses and has long operated as a separate...


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