A.I.G., American insurance conglomerate is trying to sell companies pay United States Government, some of us used to save collapse during the financial crisis $ 182 million.
A.I.G. announced last October that it would sell its participation of 97.57% Nan shan strategic consortium of two societies investment, Primus Financial Holdings and holdings of China, the first headquarters in Hong Kong, the second listed.
But Taiwan authorities say that they oppose what they think of Primus China ties. The Mainland Chinese enterprises cannot acquire financial companies on the island by virtue of the right of Taiwan. In June, companies agreed to extend the deadline to complete the transaction until the middle of October.
Susan Chu, Chief Officer Taiwan, a subsidiary of standard & Poor skill ratings said that the decision was surprising and not indicated no change in behavior regulatory or competitive field for Taiwan life insurance.
"They want a major shareholder with the practice of life insurance," said, referring to the regulators, adding your company had a qualification in Nan Shan.
Primus was founded last year by former banker of Citigroup, Robert Morse. His partner in the Consortium is China Strategic Holdings, best known for making and batteries running trade insurers.
A.I.G. above cannot could sold the American International, another unit of Asia, life insurance assurance to UK Prudential.
Nan Shan has the greater value of any Taiwan, insurance company, life book A.I.G. says and served close to four million policyholders over 4,000 employees.
Taiwan imposes restrictions on investment in industries deemed strategic for national security, including life insurance sector and all acquisitions in sectors by foreigners require formal approval.
Primus refused to comment on, and A.I.G. was not immediately available for comment.
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