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ING Taiwan Life has $34 mln in Lehman, Merrill, AIG exposure

Tue Sep 16, 2008 3:13am EDT

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TAIPEI, Sept 16 (Reuters) - ING Groep's (ING.AS) Taiwan life insurance unit has T$1.1 billion ($34 million) in collective exposure to Lehman Brothers LEH.N, Merrill Lynch MER.N and AIG (AIG.N), an executive said on Tuesday.

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About a quarter of the total figure is tied up in Lehman-related business, John Wylie, chief executive officer of ING Life Taiwan, told Reuters on the sidelines of a company event.

Taiwan financial firms and retail investors had about T$80 billion ($2.5 billion) worth of investments in Lehman Brothers products, the island's top financial regulators said on Monday. [ID:nTP12923] ($1=T$32.2) (Reporting by Faith Hung; Editing by Ken Wills)

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