AIG has approached some of the world’s biggest investors over the sale of a significant stake in AIA, the US insurer’s Asian unit, drawing a strong interest from China, a report said yesterday.

The response has prompted AIG to consider offering up to 30 per cent to institutional investors and wealthy tycoons, as opposed to offering minor stakes in a planned initial public offering, said the Financial Times.

Chinese insurance companies and some of China’s largest banks are said to be looking at both taking stakes and financing others, said the FT, citing people familiar with the matter.

But it is not clear whether Chinese regulators would approve, said the report, adding that the move could go against insurance industry rules.

AIA reportedly plans to list more than half its equity in Hong Kong by October or November with the goal of raising as much as $23 billion (€17.8 billion).

Yesterday’s report was the latest indication of Chinese interest in AIA.

Last month, Hong Kong’s South China Morning Post newspaper reported that at least four consortia made up of private Chinese investors had approached AIG about acquiring its Asian business.

The FT said sovereign wealth funds had also expressed an interest in AIA, including the Singapore funds GIC and Temasek, and funds in Abu Dhabi, Kuwait and Qatar.