Primus to buy Nan Shan
New York-based insurer AIG confirmed late on Monday that it had reached an agreement to sell its 97.5% stake in Taiwanese life assurance unit Nan Shan Life Insurance to a consortium that includes Hong Kong-based financial-services firm Primus Financial Holdings and Hong Kong-listed investment firm China Strategic Holdings Ltd for around US$2.15bn (InsuranceDay.com, October 6 2009).