Currently, AIG holds 95% stake in Nan Shan Life Insurance, which is the second largest life insurer by premium income in Taiwan following Cathay Life Insurance.
After being bailed out by the U.S. government, AIG has been restructuring its overseas operations in a bid to generate cash.
AIG previously planned to sell 49% its holdings in Nan Shan Life Insurance and its financial advisors had approached some potential local vendees, including Cathay Financial Holdings, Shin Kong Financial Holding Co, Fubon Financial Holding Co and Mega Financial Holding Co, according to earlier media report.