AIG unit to shut Australian, Lloyd's China offices

American International Group Inc.'s U.K.-based Talbot Underwriting Ltd. unit is closing its Australian office and Lloyd's Insurance Co. (China) Ltd.'s division to consolidate its operations in the region, Asia Insurance Review reported. Talbot's London and Singapore branches will renew the business currently written through the two offices. The insurer plans to combine its regional underwriting operations into a single hub in Singapore.

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