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AIG starts $20bn auction of Asian unit
FT Alphaville — AIG, the stricken insurance giant, on Wednesday kicked off the sale of its Asian life assurance unit – one of its most prized assets – in the hope of raising up to $20bn to help repay its $60bn US government loan. AIG sent the sales memorandum for American International Assurance with limited information to a group of selected potential bidders including China Life, the world’s largest life assurer; HSBC; Prudential, the UK insurance group; and Prudential Financial of the US. ManuLife Financial, a leading US insurer, and Allianz of Germany have also requested information. ...

Opening Bell: 01.22.09
Dealbreaker — ... Mr. Parsons is concerned: he wants the assets off of his sheets for good. The conversation came about when Parsons started making comments to the affect of lending and why they aren't doing more of it, and somehow ended with this: "It's not a situation of, you do this for me, and I'll do that." This, as I'm sure you're aware, is effectively like saying "I maxed out my credit cards on Hookers, take those off my hands and I'll donate to the charity pool"... "except I might not." AIG Remains Active In Dissolution (FT) AIG has been making headlines lately with their ...