SinoPac, AIG To Replace Bancassurance Deal Via Their Units
May 22 2009 - 6:25AM
Dow Jones News
American International Group (AIG) and SinoPac Financial Holding
Co. (2890.TW) will terminate a bancassurance cooperation following
recent structure and strategy changes at AIG, SinoPac said
Friday.
The cooperation began in May 2007 and focused on pension
products. It will be replaced by a new pact between SinoPac
Financial's wholly owned Bank SinoPac and AIG's Taiwan unit, Nan
Shan Life Insurance Co., SinoPac Financial said in a statement.
Bank SinoPac and Nan Shan, 95%-owned by AIG, will sign a new
agreement later this month, said Ted Liao, SinoPac Financial's
spokesman.
-By Perris Lee Choon Siong, Dow Jones Newswires;
+8862-2502-2557; perris.lee@dowjones.com