AIG sees $30b for Asian unit too low

American International Group Inc (AIG.N) believes $30 billion for its Asian unit, AIA is too low, and the U.S. insurer is not in a rush to do a deal, a source familiar with the matter said late on Friday.

AIG believes it has many options for AIA, the source said. AIG views AIA as a “valuable property” and does not want to sacrifice value, the source said.

Prudential Plc (PRU.L) has entered talks to cut its $35.5 billion offer for AIG’s (AIG.N) Asian life insurance arm, in a last-ditch bid to salvage a deal criticized by shareholders as too expensive.

Reuters

Tags: AIA, Asia insurance market, Insurance market

Posted by VBN on May 31 2010. Filed under Insurance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry