Exhibit 99
CONTACT:
Denis Milewski, HSB
(860) 722-5567
FOR IMMEDIATE RELEASE
CONNECTICUT STATE INSURANCE DEPARTMENT
APPROVES ACQUISITION OF HSB BY AIG
HARTFORD, Conn., November 22, 2000 -- HSB Group, Inc. (NYSE: HSB) announced
today that on November 21, 2000 the Connecticut State Insurance Department
approved the acquisition by American International Group, Inc. (AIG) of The
Hartford Steam Boiler Inspection and Insurance Company and The Hartford
Steam Boiler Inspection and Insurance Company of Connecticut, both
subsidiaries of HSB, as contemplated by the Agreement and Plan of Merger,
dated as of August 17, 2000, among HSB, AIG and Engine Acquisition
Corporation, a subsidiary of AIG.
HSB Group, Inc., the parent company of The Hartford Steam Boiler Inspection
and Insurance Company, is a global provider of specialty insurance
products, engineering services and management consulting. The Hartford
Steam Boiler Inspection and Insurance Company was founded in 1866 to
provide loss prevention service and insurance to businesses, industries and
institutions.
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