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May 10, 2012
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| 16:34 EDT |  | AFG |
| theflyonthewall.com: | American Financial Group to sell business to Cigna for $295M | | American Financial Group (AFG) announced that it reached a definitive agreement to sell its Medicare Supplement and Critical Illness businesses to Cigna Corporation (CI) for approximately $295M in cash, subject to post-closing adjustments based upon statutory capital and surplus of transferred businesses as of the closing date. AFG expects to realize an after tax gain of approximately $95M-$105M on the sale, which is expected to close late in the Q3 or early in the Q4. :theflyonthewall.com |
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