AIG will sell its profitable Hartford Steam Boiler (HSB) division for $742 million to Muinch Re as the acquisition aligns with Munich Re’s plans of expanding U.S. operations. HSB grossed $904 million in 2007 and posted a net profit of $158 million. AIG is selling the unit as it continues to struggle from the credit crisis as it tries to raise money to repay government issued emergency loans. AIG purchased HSB for $1.2 billion 8 years ago. Munich Re said the purchase will not affect its EUR 5.5 expected dividend.