U.S. banking giant Citigroup Inc. is selling its remaining stake in insurance firm Primerica, Inc.

Primerica said Tuesday that Citigroup has commenced a public offering of approximately 8 million shares of Primerica’s common stock, representing all of the remaining shares owned by Citigroup.

Back on November 1, Citigroup cut its stake in half, with Primerica buying back almost 9 million shares for about US$200 million. Primerica went public in March 2010, as part of Citigroup shedding non-core assets.

A subsidiary of Citigroup will receive all of the net proceeds from the latest offering and Citigroup Global Markets Inc. will act as solebook-running manager for the offering.