Five firms seen vying for AIG Japan units -sources

TOKYO, Dec 9 (Reuters) - Prudential Financial Inc (PRU.N), Manulife Financial Corp (MFC.TO) and three other firms are expected to place competing bids for two Japanese life insurers put up for sale by American International Group Inc (AIG.N), people familiar with the matter said on Tuesday.

Prudential unit Gibraltar Life Insurance Co and Manulife will bid for AIG Edison Life Insurance Co and AIG Star Life Insurance Co. The remaining three bidders are a Japanese insurance company and two non-Japanese firms, the people said.

The bidding process could close later in the week and AIG is expected to select a buyer by the year-end, they said.

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.

Representatives at Prudential and Manulife in Tokyo declined to comment. AIG was not immediately available for comment. (Reporting by Taro Fuse, Emi Emoto and Chikafumi Hodo; Editing by Chris Gallagher)