Kazakhstan-based insurer EURASIA is interested in purchasing the Kazakh unit of American International Group (AIG), the company announced September 29. Eurasia sent the offer to AIG's London office on September 24.
Depending on the further process of negotiations, EURASIA may consider purchasing AIG's assets in other regions of Asia and Eastern Europe, the company noted. The largest insurance company in the United States, AIG operates in more than 130 countries and jurisdictions. As of June 30, 2008, the company's assets totalled US$1.05 trillion.
Established in 1995, EURASIA is the leading insurance company in Kazakhstan. As of July 1st, 2008, the company's assets amounted to KZT 43.38 billion and its capital totalled KZT 24.282 billion. In 2007, international rating agency A.M. Best confirmed Eurasia's B++ financial stability rating and bbb credit rating, with a stable outlook. According to EURASIA, this rating is the highest among the countries of the CIS and Central and Eastern Europe. Presently, EURASIA writes reinsurance in more than 75 countries worldwide.
