AIG’s Fortitude Re sell-off ‘positive’ despite forecast earnings hit: KBW
AIG’s 76.6 percent stake sale of Bermudian run-off vehicle Fortitude Re will hit its book value of equity per share (BVPS) by $5.62 at deal close but remains a credit positive for the Brian Duperreault-led firm, according to equity analyst Keefe, Bruyette & Woods.
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