Obvious targets could be parts of American International Group, which are on the block after what was once the world's biggest insurer was rescued by the US government following losses on insurance written on complex financial instruments.
One of the most valuable parts of AIG likely to be put up for sale is its Asian life assurance operation. This could have an embedded value – which reflects the worth of in-force life assurance policies – of $18bn-$20bn. However, AIG has indicated it could retain a stake in this business.
Roman Cizdyn, analyst at Blue Oar Securities, says AIG is likely to be “an early port of call, particularly in the region”.