AIG completes sale of Taiwan insurance unit

September 5 2016 by InsuranceAsia News Staff

AIG has successfully completed the sale of its insurance unit in Taiwan, AIG Taiwan Insurance, to Nan Shan Life Insurance.

The deal, which was originally announced in June 2015, involves the sale of AIG Taiwan Insurance’s consumer and SME business.

With the completed acquisition, AIG Taiwan Insurance has now been named Nan Shan General Insurance (NSGI) and is fully owned by Nan Shan Life.

NSGI, however, will continue to be an AIG network partner for consumer multinational clients. AIG, which has been operating in Taiwan for over 50 years, will continue to operate in the territory through its new branch of AIG Asia Pacific Insurance.

It will support multinational and commercial insurance business in Taiwan, including property, casualty, financial lines, marine and trade credit.