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AIG completes sale of AIG Taiwan Insurance Company business.

Global Banking News-September 2, 2016--AIG completes sale of AIG Taiwan Insurance Company business

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Global Banking News - 02 September 2016

American International Group Inc (NYSE: AIG)(AIG) has said that it has completed the sale of AIG Taiwan Insurance Co Ltd's consumer and small to mid-sized (SME) enterprise business.

The sale was concluded to Nan Shan Life Insurance Co Ltd (Nan Shan) after the deal was originally announced in June 2015. The sold business has been renamed Nan Shan General Insurance (NSGI) and is fully owned by Nan Shan Life Insurance. NSGI will continue to be an AIG network partner for multinational clients.

Lim Kian Tiong, country manager of AIG Asia Pacific Insurance Pte Ltd, Taiwan Branch, said, 'We are excited to have successfully completed this transaction. It has been a strong collaborative effort between both companies. At AIG, we continue to focus on our multinational and commercial insurance business in Taiwan by leveraging our underwriting expertise and multinational network.'

AIG has been operating in Taiwan for over 50 years.

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Publication:Global Banking News (GBN)
Geographic Code:9TAIW
Date:Sep 2, 2016
Words:198
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