AIG sells 76.6 pct of Fortitude Re to Carlyle, T&D Holdings for $1.8 bln

Carlyle Group and T&D Holdings have agreed to buy 76.6 percent of Fortitude Group Holdings from American International Group Inc for about $1.8 billion. Once the deal closes, Carlyle’s stake in Fortitude will be 71.5 percent, while T&D will have 25 percent and AIG will have 3.5 percent. Fortitude Re provides retroactive reinsurance and legacy run-off management solutions for long-dated, complex risks to the global insurance industry.