Management. Die Lebensversicherungssparte wird weiter nach einen strategischen Partner suchen, oder einen IPO folgen.
AIG's AIA says has assets of more than $60 bln
HONG KONG, March 5 (Reuters) - American International Assurance Co Ltd (AIA), the Asian life insurance unit of AIG , said late on Wednesday that it has more than $60 billion of assets under management, and that its planned split from its embattled parent will be a positive step for the company.
AIA said it is financially strong with a combined solvency ratio on a pro forma basis of more than 200 percent of regulatory requirements as of Nov. 30, 2008. Standard&Poor's has affirmed AIA's 'A+' rating, AIA said.
AIA's announcement, which supplied detailed information about the private company, comes after AIG tried unsuccessfully to auction off all or part of the business, in an effort to raise cash amid staggering financial losses.
AIA also said that apart from the auction process, it had completed a merger of various Asia Pacific businesses.
AIA late on Wednesday reiterated its plans to continue to seek a strategic partner or pursue an IPO.
The Hong Kong-based company said that during 2008, it recruited more than 52,000 agents. AIA said it has a network of 250,000 agents, 20,000 employees across 13 Asian markets, and 20 million customers.
Hopes of a successful auction faded as only two insurers stepped forward to bid before last Friday's deadline, and both bids were well below the amount AIG hoped to raise with AIA's sale.
UK insurer Prudential Plc and Canadian insurer Manulife Financial Corp made preliminary offers for AIA, Reuters reported on Tuesday.
Sources involved with the auction say AIA's embedded market value based on profits, revenues and market share is about $20 billion.
On Monday, AIG announced that shares of AIA will be put into a specially created separate legal entity subject to regulatory approvals, which will help it function separate from AIG.
AIG said that AIA would continue with its review of a strategic investor, but also said it may seek an initial public offering.
AIG, formally known as American International Group, (News/Aktienkurs) has been rescued four times by the U.S. government after its exposure to soured securities that nearly wiped out the once largest insurance company in the world. Keywords: AIA/
(Reporting by Donny Kwok and Michael Flaherty; Editing by Ken Wills; donny.kwok@thomsonreuters.com; Reuters Messaging: donny.kwok.reuters.com@reuters.net; +852 2843 6470, Fax +852 2845 0636)
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51 Cent oder gar 60 Cent wäre ja schon ein richtiger Ausbruch der einen schwindlig macht.