TAIPEI, , Sep. 1, 2016 /PRNewswire/ -- American International Group, Inc. (NYSE:AIG) and Nan Shan Life Insurance Co., Ltd. (Nan Shan) today successfully completed the sale of AIG Taiwan Insurance Co. Ltd's consumer and small to mid-sized (SME) enterprise business. The deal was originally announced in June 2015.
The Taiwan company has been named Nan Shan General Insurance (NSGI) and is fully owned by Nan Shan Life Insurance.
NSGI will continue to be an AIG network partner for consumer multinational clients. AIG will continue to support multinational and commercial insurance business in Taiwan, including property, casualty, financial lines, marine, and trade credit, through a new Taiwan branch of AIG Asia Pacific Insurance Pte. Ltd.
"We are excited to have successfully completed this transaction. It has been a strong collaborative effort between both companies. At AIG, we continue to focus on our multinational and commercial insurance business in Taiwan by leveraging our underwriting expertise and multinational network," said Lim Kian Tiong, Country Manager of AIG Asia Pacific Insurance Pte. Ltd., Taiwan Branch.
AIG has been operating in Taiwan for over 50 years and is a leader in underwriting, distribution and marketing.
AIG Asia Pacific Insurance Pte. Ltd., Taiwan Branch. is part of the American International Group Inc.
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today we provide a wide range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in more than 100 countries and jurisdictions. Our diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com and www.aig.com/strategyupdate | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
