Munich RE to buy AIG's HSB unit

Reinsurer Munich RE in a starkling revelation has said that it would buy Hartford Steam Boliler from its embattled parent company, American International Group for a price of 742 million dollars.The purchase s being considered as well below the HSB's value, estimated at between 1 billion and 2 billion by the Financial Times, as AIG is forced to sell the units to pay back a U.S governmenr bailout loan.