TAIWAN ( TheStreet) -- The umbilical cord is almost cut between American International Group ( AIG) and its Taiwan unit.

Taiwan's government will review the business plans and funding sources of the final bidders for Nan Shan Life Insurance, Reuters reported. Experts predict the review will result in banning private equity firms to bid on their own.

The Financial Supervisory Commission, Taiwan's top financial regulator, expressed concern that the final bidders would seek a quick profit and not a long-term commitment to the Taiwan market, Reuters reported.

On the short list of bidders is Bain Capital and The Carlyle Group.

Bain is looking to team up with Chinatrust Financial to duel it out with Carlyle and Fubon Financial.

Primus Financial Holdings and Cathay Financial Holdings have also been invited to put in binding bids next month.

The deal has been reported to be worth more than $2 billion.

--Reported by Jeanine Poggi in New York.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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