American International Group (AIG) has completed the sale of AIG Taiwan Insurance Co. Ltd's consumer and small to mid-sized (SME) enterprise business to Nan Shan Life Insurance Co.
The deal was originally announced in June 2015.
The Taiwan company has been named Nan Shan General Insurance (NSGI) and is fully owned by Nan Shan Life Insurance.
NSGI will continue to be an AIG network partner for consumer multinational clients. AIG will continue to support multinational and commercial insurance business in Taiwan, including property, casualty, financial lines, marine, and trade credit, through a new Taiwan branch of AIG Asia Pacific Insurance.
AIG Asia Pacific Insurance Taiwan Branch country manager Lim Kian Tiong said: “We are excited to have successfully completed this transaction. It has been a strong collaborative effort between both companies.
"At AIG, we continue to focus on our multinational and commercial insurance business in Taiwan by leveraging our underwriting expertise and multinational network.”
AIG has been operating in Taiwan for over 50 years and is a leader in underwriting, distribution and marketing.
AIG Asia Pacific Insurance Taiwan Branch is part of the American International Group.