AIG added as cornerstone to PICC HK IPO with $500 million pledge: sources

HONG KONG Wed Nov 21, 2012 2:50am EST

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HONG KONG (Reuters) - American International Group Inc (AIG.N) has pledged $500 million to Chinese state insurer PICC Group's up to $3.6 billion Hong Kong IPO, sources with direct knowledge of the matter told Reuters on Wednesday.

AIG was added to a list of 16 investors that initially signed up, taking the total cornerstone commitments to $1.85 billion towards People's Insurance Company (Group) of China's Hong Kong offer, set to the biggest IPO in the city for two years.

(Reporting by Elzio Barreto and Jing Song of IFR; Editing by Muralikumar Anantharaman)

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