AIG To Take $1.4B Hit In Sale Of Taiwanese Unit

Law360, New York (October 15, 2009, 4:19 PM EDT) -- American International Group Inc. expects to see a loss of around $1.4 billion on the sale of its Taiwanese life insurance unit, the insurer said in a U.S. Securities and Exchange Commission filing Thursday.

According to its 8-K filing, AIG expects the sale of 97.57 percent of Nan Shan Life Insurance Co. Ltd. to an investor group led by Primus Financial and including China Strategic Holdings Ltd. to meet the criteria for held-for-sale accounting, and the expected $1.4 billion loss will show up in the fourth...
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