The American Insurance Group, is the largest insurance company in the world, and it went into deep financial crisis last year. The US government has bailed it out by pumping in over 180 billion dollars over the last 12 months. Now the company is working hard to repay the government loans, by selling assets across the globe.
So far it has sold off few of the operations including car unit and generated eight billion dollars. Now it has decided to sell the Taiwan Insurance unit to a group of investors from China and Singapore, for 2.1 billion dollars. These funds can help AIG to reduce the working capital loans and stay afloat for the next few months, till another asset is identified for sale.