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AIG sells auto insurance business to Zurich Financial Services, Inc.

In a $1.9 billion deal, American International Group sold its auto insurance business to the Swiss company, Zurich Financial Services, Inc. Last year, AIG had to ask the U.S. government for money as well as more time to repay the government when its original plan to raise the money did not succeed. At one time the world’s largest insurer, AIG has been forced to sell its insurance businesses to repay the loan portion of a federal bailout totaling $182.5 billion.

Zurich and its U.S. home and auto insurer, Farmers Group, Inc. will be able to increase its outreach to new customers online instead of through agents. Zurich will be the largest auto insurer in California. Learn the truth about insurance companies from D’Amore Law Group.

About the <span>Author</span>

About the Author

Tom D'Amore is the founder of D'Amore Law Group and a trial attorney with over 30 years of experience representing injured people and their families across the West Coast, securing more than $325 million in recoveries. He handles cases involving car accidents, trucking accidents, construction injuries, medical malpractice, and sexual abuse. Licensed in Oregon, Washington, and California, Tom is the only NBTA board-certified truck accident attorney in Oregon. He is a national Board of Governors member, past Executive Committee member, and past Budget and Audit Chair of the American Association for Justice, as well as past President of the Oregon Trial Lawyers Association and an Eagle member of the Washington State Association for Justice.
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