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Sale of troubled AIA unit a strictly private matter

By Hu Yuanyuan and Bi Xiaoning (chinadaily.com.cn)
Updated: 2009-02-26 14:13

There is nothing unusual about the business of American International Group(AIG)'s AIA Asia life insurance unit in 皇冠体育app and the sale is a matter between it and the potential buyers, said Li Kemu, vice-chairman of the 皇冠体育app Insurance Regulatory Commission (CIRC), in response to a question about the regulator鈥檚 opinion on the proposed transaction.

"As a regulator, we care more about risks. We found AIA's business in 皇冠体育app is stable," Li said.

AIG will begin auctioning its unit valued at roughly $20 billion on Friday. There are some speculations that 皇冠体育app Life and Bank of 皇冠体育app are interested in buying AIA assets. Potential bidders reportedly also include UK insurer Prudential Plc, Canadian insurer Manulife and Singapore sovereign wealth fund Temasek Holdings.