AIG sales raise more than $1bn

AIG has raised more than $1bn (£678.5m) from the sale of two businesses. On Thursday, it completed the sale of AIG Life of Canada to BMO Financial Group for about $263m. On Tuesday, it completed the sale of Hartford Steam Boiler to the Munich Re Group for $739m, plus the assumption of $76m outstanding capital securities. Ed Liddy, AIG’s chief executive, said: “AIG is working tirelessly to execute an orderly asset disposition plan to repay the US government.”