(Bloomberg) -- American International Group Inc., the largestcommercial insurer in the U.S. and Canada, bought a controllinginterest in NSM Insurance Group as it seeks to expand nicheofferings.

NSM collects more than $500 million in annual premiums fromindustries including aviation, sports and fitness, microbreweriesand professional liability for lawyers, dentists, architects andengineers, Conshohocken, Pennsylvania-based NSM said Monday in astatement. AIG’s investment will help the specialty companyaccelerate acquisitions, NSM said.

Terms weren’t disclosed and the transaction is expected to becompleted within 30 days, New York-based-based AIG said in aseparate statement. The insurer purchased the stake from NSMmanagement and ABRY Partners, a Boston-based private-equity firm.NSM has managed some of AIG’s programs for more than 15 years,according to the statement.

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