Srmable to buy US insurers' assets.

Insurers are eyeing up AIG’s Asian interests as the scramble for its assets continues.

Prudential has expressed interest in the beleaguered insurer’s Asian life operations.

Mark Tucker, Prudential’s chief executive, said: “You would expect us to look at the assets in AIG as they go through their disposal process.”

It is also interested in other parts of AIG’s life business across the world.

Another company entering the race is Metrobank Group, the largest bank in the Philippines, which is keen on Philippine American Life and General Insurance Company (Philamlife).

Philamlife is one of AIG’s most prized businesses in Asia, with assets thought to be worth $3.4bn (£2.2bn).

One company that will not be competing for AIG companies is UK insurance giant, Aviva. The fifth largest insurance company in the world is fighting its own battle to keep its share price stable.

Andrew Moss, its chief executive, said on Tuesday: “The case for us acquiring these assets is very weak.”

Before AIG was bailed out, by the US government, it had entered Asia because it offered penetration into a fresh market that was unparalleled in the developed world.

But the company is under immense pressure to dispose of large chunks of its assets to pay back the US government.

The parlous state of AIG’s finances has meant the company’s original credit line of $85bn looks likely to be extended to $123bn.

AIG has stressed it will not sell its UK business arm.