AIA Minority Stake Is Luring

BEIJING, Oct 08, 2008 (SinoCast via COMTEX) -- LFC | Quote | Chart | News | PowerRating -- AIA has been brought under the limelight since its parent American International Group, Inc. (AIG) announced a large-scale asset spilloff plan last week.

So far, over 12 companies, including China Life Insurance Co., Ltd. (NYSE: LFC, SEHK: 2628, and SSE: 601628), has been in talks with AIG over the acquisition of a minority stake in AIA, Mark Wilson, a top executive responsible for life insurance at the leading US insurer for the Asia-Pacific Region, said in an interview. AIG, which has invited Blackstone Group and Morgan Stanley as its financial advisers on the issue, will remain a majority stake in AIA, which has life insurance operations across Asia.

Statistics show that AIA has had about 20 million clients in Asia, excluding the Japanese market. The operating profit it gained in Asia last year reached about USD 2 billion. Bringing in one or several strategic investors to AIA is believed to give full play to the latter's potential in the future.

From www.rmic.cn, Page 1, Tuesday, October 07, 2008 info@SinoCast.Com

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