US insurer AIG has agreed to sell its Taiwan unit, Nan Shan, to Ruen Chen Investment Holding, part of the Ruentex Group, for $2.16 billion. If it is successful, the deal, which is still awaiting final regulatory approval, will signal the end of AIG’s sale of its Asian assets and the conclusion of the long-running attempt to dispose of Nan Shan.
It will also come as a blow to ex-Citi banker Bob Morse, whose new financial services group, Primus Financial Holdings, was rebuffed by regulators after apparently securing Nan Shan in an earlier bid for the business in August.
Thanks for your interest in Euromoney!
To unlock this article:
