National Australia Bank is considering a bid for the Australian arm of global insurance group AIA - owned by the US-government supported AIG - the
Herald Sun reported.
A bid for AIA is one alternative means of growing NAB's financial services business in the wake of the ACCC's rejection of its bid for Axa Asia Pacific.
AIA earned revenue of $490 million and a net profit of $43 million in the year to December 2009, according to APRA data. Total assets were $1.4 billion.