Fairfax Financial Holdings, a global property and casualty insurer and reinsurer, agreed to acquire commercial and consumer insurance operations of American International Group, an American multinational finance and insurance corporation, for $240m. “This partnership marks a significant step forward in achieving the strategic priorities of AIG, as well as Fairfax. We look forward to expanding our multinational network partner relationship with Fairfax to provide seamless world-class capabilities and outstanding service to our global clients in these key countries. We also remain committed to those markets that hold the greatest potential for AIG to sell its insurance products competitively and where we can profitably serve our clients,” Peter Hancock, AIG President and Chief Executive Officer.