A man walks past a Nanshan logo outside an insurance office building in Taipei October 13, 2009. American International Group (AIG) has agreed to sell it's Taiwan life insurance unit for $2.15 billion, a key step in its effort to raise cash after a U.S. government bailout last year saved the company from collapse. Primus Financial, a new firm founded by Citigroup's former investment banking head in Asia and a Chinese partner, has agreed to purchase Nan Shan Life, AIG said on Tuesday. Reuters Pictures 1 month ago

A man walks past a Nanshan logo outside an insurance office building in Taipei October 13, 2009. American International Group (AIG) has agreed to sell it's Taiwan life insurance unit for $2.15 billion, a key step in its effort to raise cash after a U.S. government bailout last year saved the company from collapse. Primus Financial, a new firm founded by Citigroup's former investment banking head in Asia and a Chinese partner, has agreed to purchase Nan Shan Life, AIG said on Tuesday.

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  1. A woman walks past the Nan Shan Life Insurance (NSLI) logo in Taipei on October 13, 2009. American International Group said it will sell its Taiwan unit to Hong Kong-based Primus Financial Holdings for 2.15 billion US dollars.
  2. A woman walks past the Nan Shan Life Insurance (NSLI) building in Taipei on October 13, 2009. American International Group (AIG) said it will sell its Taiwan unit to Hong Kong-based Primus Financial Holdings for 2.15 billion US dollars.
  3. Nan Shan Life Insurance Chairman Edmund Tse speaks during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  4. American International Group's (AIG) Executive Vice President and Chief Operating Officer for the Greater China and India Region Richard L. Bender, Nan Shan Life Insurance Chairman Edmund Tse and Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse (L-R) give a thumbs up during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  5. American International Group's (AIG) Executive Vice President and Chief Operating Officer for the Greater China and India Region Richard L. Bender, Nan Shan Life Insurance Chairman Edmund Tse, Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse, and Nan Shan Life Insurance President and Chief Executive Frank Chen (L-R) attend a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  6. American International Group's (AIG) Executive Vice President and Chief Operating Officer for the Greater China and India Region Richard L. Bender, Nan Shan Life Insurance Chairman Edmund Tse, Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse and Nan Shan Life Insurance President and Chief Executive Frank Chen (L-R) shake hands during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  7. American International Group's (AIG) Executive Vice President and Chief Operating Officer for the Greater China and India Region Richard L. Bender, Nan Shan Life Insurance Chairman Edmund Tse, Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse and Nan Shan Life Insurance President and Chief Executive Frank Chen (L-R) give a thumbs up during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  8. Sales agents for Nan Shan, Taiwan's number two life insurer, protest in Taipei on November 13, 2009. The sale of Nan Shan, US insurance giant AIG's local unit, to Hong Kong-based Primus Financial Holdings has triggered anger among Nan Shan employees that a long-running pension row has not yet been settled before the transaction was allowed to take place.
  9. Alexandra Patz watch as Jessina Carroll, a nurse at the Ryan Chelsea-Clinton Community Health Center, administer a swine flu vaccine nasal mist to her son Douglas, 4, in New York, Thursday Nov. 5, 2009. The private nonprofit health center has seen a steady flow of individuals asking for the vaccine. "There was no wait," said Patz, who also got the vaccine along with her son. "It was painless and I am glad I did it." Some of New York's biggest companies, including Wall Street giants Goldman Sachs and Citigroup, received doses of swine flu vaccine for at-risk employees, drawing criticism that the hard-to-find vaccine is going first to the privileged.
  10. Charts shows quarterly earnings for Bank of America, Citigroup, JPMorgan Chase & Co. and Goldman Sachs Group Inc. since the third quarter of.
  11. Charts shows quarterly earnings for Citigroup, JPMorgan Chase & Co. and Goldman Sachs Group Inc. since the third quarter of 2008.
  12. Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse speaks during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  13. Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse speaks during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  14. Nan Shan Life Insurance Chairman Edmund Tse speaks during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  15. Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse speaks during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  16. American International Group's (AIG) Executive Vice President and Chief Operating Officer for the Greater China and India Region Richard L. Bender, Nan Shan Life Insurance Chairman Edmund Tse and Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse (L-R) give a thumbs up during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.

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