AIG units approved for expansion in China.American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. Inc. said its life and general insurance subsidiaries in China both were granted licenses to expand operations in Guangdong province, and the life operation also received the go-ahead to expand throughout Jiangsu province. The life subsidiary, American International Assurance American International Assurance known as AIA (美國友邦保險) is a famous insurance company based in Hong Kong. It has offices in Asia-Pacific region including China, Australia, New Zealand, Japan, India, Malaysia, South Korea, Thailand and Co. Ltd., will be permitted to expand its operations in both provinces after gaining approval from the China Insurance Regulatory Commission. The general insurance subsidiary, AIU AIU American Intercontinental University AIU Allegheny Intermediate Unit (Homestead, PA) AIU Atlantic International University AIU Association of Indian Universities AIU Association Internationale des Universités Insurance Co., will expand in Guangdong. Guangdong, with a population of 91 million, and Jiangsu, with 74 million people, are two of the top three Chinese provinces in terms of total economic activity, MG said. "These approvals will lead to a much larger sales base for AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group companies in China," Edmund S.W. Tse, AIG's senior vice chairman for life insurance, said in a statement. Jiangsu, with its capital Nanjing, is in the middle of China's east coast. With its capital at Guangzhou, Guangdong benefits from the Pearl River delta The Pearl River Delta Region (PRD) in China occupies the low-lying areas alongside the Pearl River estuary where the Pearl river flows into the South China Sea. Since the "Open Door Policy" was adopted by the Communist Party of China in the late 1970s, the portion of the delta in region, which with its proximity to Hong Kong is among China's most dynamic regions economically. |
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