Prudential Financial Inc (PRU.N: Quote, Profile, Research, Stock Buzz), Manulife Financial Corp (MFC.TO: Quote, Profile, Research, Stock Buzz) and three other companies are expected to make bids for two Japanese life insurers put up for sale by American International Group Inc.
Prudential unit Gibraltar Life Insurance Co and Manulife will bid for AIG Edison Life Insurance Co and AIG Star Life Insurance Co. The remaining three bidders are a Japanese insurance company and two non-Japanese firms.
AIG has said it plans to sell everything except its U.S. property and casualty business, foreign general insurance, and an ownership interest in some foreign life operations.
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