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AIG Acquires GE Auto Biz

As part of a $2.15 billion deal in which American International Group agreed to buy the Japanese life insurance business of GE Insurance, AIG will also acquire GEs U.S. auto and home businesses, the two companies announced.

According to a spokesperson for GE Insurance in Richmond, Va., 2002 premiums for GEs U.S. auto and home businesses amounted to $545 million.

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