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AIG unit says will continue to meet obligations
HONG KONG |
HONG KONG (Reuters) - Embattled AIG's AIA Hong Kong unit said on Tuesday that while AIG faces short-term liquidity pressures, its insurance companies are well-capitalized and will continue to meet obligations to policy-holders.
"Although AIG faces short-term liquidity pressures, we have strong, well-positioned businesses in diverse markets around the world and a deep asset base. We can assure our customers of AIG's commitment to meeting their needs and keeping their business," AIA Hong Kong said in a statement.
In Singapore on Tuesday, hundreds of worried customers rushed to a local American International Assurance office to redeem policies amid fears the U.S. insurance giant could be the next big financial firm to tumble.
(Reporting by Tony Munroe)
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