AIG acquires 21st Century Insurance

By Lisa Kerner

Charlotte, N.C., Sept. 27 - American International Group, Inc. (AIG) completed the merger of its wholly owned subsidiary with 21st Century Insurance Group.

AGI acquired the 39.3% of 21st Century shares outstanding that it did not own, a company news release stated.

The companies announced a definitive merger agreement on May 15 giving 21st Century stockholders $22 per share in cash in a deal valued at about $813 million.

Direct-to-consumer personal auto insurance provider 21st Century is located in Woodland Hills, Calif. AIG is an insurance and financial services company based in New York.

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