NEW YORK (
American International Group
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.
Fubon Financial Holding Co.
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
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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