AIG's China division reassures policyholders

SHANGHAI: The Shanghai-based China unit of troubled US insurance giant American International Group, AIG, yesterday assured Chinese policyholders that it's business as usual.

American International Assurance (AIA), a wholly owned subsidiary of AIG and China's largest foreign-owned life insurer by premium, said in a statement that it is well capitalized and able to meet local regulatory capital requirements.

The statement said AIG's liquidity problem would not affect the interests of Chinese policyholders, and AIA "remains confident in the future of the Chinese market while continuing to operate normally to meet its obligations to policyholders".