US media reports say AIG is planning to float its AIA life insurance operation through a $US15 billion ($17.2 billion) initial public offering in Hong Kong.

The South China Morning Post says four consortiums have made offers to AIG to acquire AIA’s Asian life assets. It says they are made up of investors in Hong Kong, Shanghai, Taiwan and China.

While an initial public offering would likely produce a lower sale price, the AIG board may be reluctant to attempt another total sale after Prudential’s £35.5 billion ($62.4 billion) bid to acquire all of AIA collapsed due to a lack of shareholder support.