American International Group (AIG) has entered the bidding for South Korean insurance company SK Life Insurance. The insurer has already attracted bids from HSBC Holdings and MetLife. According to a report in The Korea Economic Daily, AIG has now expressed its intention to buy the unlisted SK. AIG will be allowed to begin due diligence on the Korean life insurer shortly, and make a final offer, despite the fact that the company has already selected three preferred bidders. HSBC and New York-based MetLife are still in the bidding, but Toronto-based insurer Manulife Financial has given up, according to the report. SK is reported to be worth some 400 billion won ($346.8 million).