Purchase of Hartford Steam Boiler will be last for Munich Re
German reinsurer Munich Re is unlikely to buy any more AIG assets from after completing the purchase of Hartford Steam Boiler (HSB) by 9 April, Reuters reports.
Munich Re agreed to buy engineering insurer HSB in December for $742m. It was initially interested in some assets that AIG planned to sell in Asia and Eastern Europe, no more according to board member Peter Roeder, Reuters said.
Munich Re has received approval for the HSB deal from UK regulators, Anthony Kuczinski, chief executive of Munich Re America told Reuters.
The Connecticut Insurance Department held a hearing on Tuesday, which was also attended by representatives of companies owned by former AIG chief executive Maurice Greenberg, Reuters said.
