Defense Base Act Compensation Blog

The Modern Day DBA Casualty

Government unaware of new proposal on AIG’s Taiwan unit sale

Posted by defensebaseactcomp on January 5, 2011

Focus Taiwan News Channel

Taipei, Jan. 4 (CNA) Taiwan’s top financial watchdog said Tuesday that it was unaware of a new proposal made by one of the bidders for insurance giant American International Group’s (AIG’s) Taiwan unit.

“The only information I have came from the newspapers, ” said Wu Chung-chuan, deputy director of the Financial Supervisory Commission’s (FSC’s) insurance bureau.

His remarks came after a report in the Chinese-language Economic Daily News said earlier in the day that a consortium has proposed that it “share the management” of Nan Shan Life Insurance Co. with AIG.  See the entire article here

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