NEW YORK (Bloomberg) — GMAC Inc., the lender that received two US bailouts, will sell its property-casualty insurance business to American Capital Acquisition Corp. after posting losses in seven of the past eight quarters.

The deal includes GMAC's US consumer operations insuring cars, commercial fleets and recreational vehicles, the company said in a regulatory filing today; terms weren't disclosed. AmTrust Financial Services Inc., a New York-based insurer, said separately it will invest $42.5 million in American Capital, which doubles its sales force with the acquisition.

GMAC is selling insurance units as it tries to rebound from losses tied to home and auto loans. The Detroit-based lender reached a deal in November to sell a reinsurance business and two insurance units to Bermuda-based Maiden Holdings Ltd.

"This is getting them additional capital," said Mirko Mikelic, who helps oversee $19 billion at Fifth Third Asset Management in Grand Rapids, Michigan.