AIG Asia unit to remains financially strong amid slowdown

American International Assurance Co, the Asian unit of American International Group Inc, said it remains "financially strong" even after an economic slowdown in the region weakened demand for insurance products, reports Bloomberg.
The AIA group had a combined solvency ratio of more than 200% of the regulatory requirement as of Nov 30, the company said in an emailed statement on March 5. Total assets are currently more than US$60 billion (RM223.65 billion), it said, without providing earlier figures, the report added.
Bloomberg added that AIG, which got its fourth government bailout this week after posting a US$61.7 billion quarterly loss, agreed to place AIA and American Life Insurance Co into trusts to pay down its federal credit line. The insurer last month put together all its AIA units in the Asia-Pacific region to form the AIA group.