NEW YORK (

TheStreet

) --

American International Group

(AIG) - Get Report

has received several multi-billion offers for its Taiwan life insurance unit, Nan Shan Life.

The highest bid -- $3 billion -- was made by

Chinatrust Financial Holding Co.

, according to a report in the

The Wall Street Journal.

Other offers were made by

Cathay Financial Holding Co.

($2.7 billion),

Ruentex Group

($2.5 billion)

Fubon Financial Holding Co.

($2.2 billion).

The sale of AIG's prize Asian life insurance operations is prompted by the company's efforts to repay its $182.5 billion government bailout.

The Nan Shan Life offers are higher than the original $2.15 billion made by

China Strategic Holdings

and

Primus Financial Holdings

that Taiwanese regulators blocked in August. That deal blocked the deal due to concerns that the two companies did not have the experience necessary to manage the company.

AIG could select a preferred bidder this week, according to the report.

--Written by Maria Woehr in New York.

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