AIG has had to lower its sights on the amount AIA will raise from its float as cornerstone investors force a lower unit price.

It has been reported the US insurer will now raise between $US30 billion-$US32 billion ($30.92 billion-$32.99 billion) from the float rather than the $US35 billion-$US37 billion ($36 billion-$38.15 billion) it has hoped for.

The insurer was forced to reduce the share price to attract the Kuwait Investment Authority, which has agreed to take a $US1 billion ($1.02 billion) stake in the Asian business.

It is also understood a number of Hong Kong tycoons have agreed to take stakes in the company as well as the Malaysia’s state investment fund Khazanah Nasional.

The cornerstone investors will see their shares held in escrow for six months from listing, which is now expected to be later this month.