Posts Tagged ‘american international assurance’
The AIG Taiwan Lost of Unit Sales
The United States rescued insurer American International Group (AIG) is facing the possibility of finding another buyer for its unit in Taiwan after regulators ruled its turnover by 2.2 billion Nan Shan Life to a Chinese company.
The Taiwanese Ministry of Economic Affairs said that AIG plans to sell Nan Shan battery manufacturer in China and strategic investment company in Hong Kong Primus have not complied with regulations in Taipei on investment continent.
In its decision, also said that buyers do not meet the criteria for experience in the insurance industry and the ability to raise funds, but buyers have 30 days to appeal, but noted that these appeals had previously failed.
AIG needs to sell its assets to pay the U.S. government rescue, agreed to sell Nan Shan in October, but believing in Taiwan over China strategic ties with the political enemy of China, and the concern that there was the experience to run an insurance company, has delayed the agreement.
The rejection of the plan for AIG Nan Shan is the second collapse of an agreement expected in Asia in four months.
AIG has lost a sale in May of 35.5 billion dollars from the Asian unit of American International Assurance (AIA). He faces the choice of finding another buyer who could provide a national award for Nan Shan, or could hold on to it until you find other ways to pay the ransom money.
AIG was not immediately available for comment. Strategic China was not available for comment. Its shares were suspended in HongKong after the announcement.