T&D may bid for AIG Japan units - report
TOKYO (Reuters) - Japanese insurance group T&D Holdings Inc (8795.T) may bid for two Japanese life insurers put up for sale by American International Group Inc (AIG.N), the Asahi newspaper reported on Thursday.
Saved from bankruptcy by a U.S. government bailout that has now ballooned to about $152 billion, AIG is looking to raise cash by shedding assets globally.
The insurer has said it will sell its three Japanese life insurance businesses -- Alico Japan, AIG Edison Life Insurance Co and AIG Star Life Insurance Co.
T&D is considering bidding for AIG Edison Life Insurance Co and AIG Star Life Insurance, the Asahi said.
A Japanese unit of Prudential Financial Inc (PRU.N) plans to bid for the same two units, people familiar with the matter have told Reuters. [nT274036]
T&D, a holding company for such lifers as Taiyo Life Insurance Co and Daido Life Insurance Co, declined to comment on the report.
There are several other possible bidders for the AIG units including foreign insurance firms and a Japanese non-life insurer, the Asahi said, without citing any sources.
Shares of T&D Holdings, the only Japanese life insurance firm listed in Tokyo, fell 2.5 percent to 3,160 yen, underperforming the Nikkei 225 stock average .N225 which inched up 0.4 percent.
(Reporting by Yumiko Nishitani; Editing by Edwina Gibbs)
