BOC in the fray for AIA assets

Bank of China (BOC) has emerged as the preferred choice of the Chinese government as a potential bidder for American International Assurance (AIA), the Asian life insurance unit of American International Group (AIG).

Wang Zhaowen, spokesman, Bank of China, when contacted said he was not aware of the lender's potential bid for AIA.

China's policymakers are believed to have favored BOC over China Life, the world's largest insurer, as a bidder because of its experience in managing foreign assets.