Canada's biggest insurer received a positive response during meetings with institutional investors to gauge their response to a large purchase, the newspaper said today, citing unidentified people.
Manulife is among a handful of bidders for AIG’s Far East operations in an auction backed by the U.S. Treasury, the Post said.
British insurer Prudential has pulled out of the auction for the Asian business of AIG, the Sunday Times newspaper reported.
The paper said Prudential chief executive Mark Tucker believes the asking price of 7 billion pounds ($10 billion) was too high.