FACTBOX-Bailed-out insurer AIG's progress on asset sales

NEW YORK, Aug 12 (Reuters) - American International Group
Inc (AIG.N) agreed on Wednesday to sell its Hong Kong consumer
finance and India-based IT services units, two more small steps
in the insurer's bid to sell assets to raise funds to repay
government loans. [ID:nSHA59431]

AIG is pursuing divestitures as part of its plan to pay
back U.S. taxpayers, which have a roughly 80 percent stake in
AIG, after providing some $180 billion since last September to
save the insurer from bankruptcy.

The New York-based company has more than $80 billion in
outstanding loans from the Federal Reserve and U.S. Treasury.
But net proceeds of asset sales have been slow to make a dent
in its debt. In the first seven months of 2009, AIG was able to
reach agreements to generate about $2.6 billion in net
after-tax proceeds available for repayment of its Federal
Reserve loan, it said last Friday.

Below are some of the deals AIG has announced:
ASSET BUYER PRICE
AIG Finance (Hong Kong) China Construction Bank $70 mln*
AIG FP energy investments Various $1.9 bln
U.S. life finance biz Unit of Wintrust Financial$679.5 mln
Transatlantic Hldgs stake Public offering of shares $1.1 bln
Office bldg, Tokyo Nippon Life Insurance $1.2 bln
21st Century Insurance Zurich Financial $1.9 bln
Unibanco AIG Seguros Unibanco $820 mln
Hartford Steam Munich Re $739 mln
AIG Life of Canada BMO Financial Group $263 mln
AIG Private Bank Aabar Investments $253 mln
* Deal also includes repayment of intragroup debt and deposits
of about $557 million

Below are other recent developments that could result in
sales of major AIG assets:

* AIG has formed special purpose companies to hold the
equity of two of its biggest life insurers, American Life
Insurance Co (Alico) and American International Assurance
(AIA). The Federal Reserve is taking a preferred stake in both,
under a pact that could reduce the insurer's federal debt by
about $25 billion. Both businesses could be sold through
initial public offerings. [ID:nN15372877] [ID:nBNG10270]

* A third special purpose company was formed to hold the
equity of its international property-casualty division,
recently renamed Chartis, ahead of the planned sale of a 20
percent stake. [ID:nN27473150]

* AIG is in discussions with a group that includes private
equity firms over a sale of its aircraft leasing unit,
International Lease Finance Corp (ILFC). [ID:nN05357212]

* A consortium including private equity firm Crestview
Partners may buy AIG's asset management business for $300
million to $400 million, according to a source familiar with
the matter. [ID:nN03520880]

* AIG's Taiwan life unit Nan Shan Life could attract a bid
of about $2 billion, sources have told Reuters.
[ID:nHKG359198]

* AIG is in talks to sell two Japanese life insurers, AIG
Edison Life Insurance Co and AIG Star Life Insurance.
[ID: nWEN0651]

(Reporting by Lilla Zuill)