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American International Group Inc. is close to selling its car insurance unit to Switzerland's Zurich Financial Services AG, sources familiar with the talks said Thursday. The disposal of 21st Century Insurance Co. could be announced later on Thursday and will likely be valued at between $1.5 billion and $2 billion.

A sale would be AIG's biggest asset disposal since the insurance giant was bailed out in September. The two sides have been talking since last year about a deal, and in February negotiations broke down over a disagreement on price.

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