KUALA LUMPUR - AIA Group has embarked on an extensive re-branding exercise in the region in a move to establish a separate and independent identity from its US-based parent.

Pending regulatory approval for the Asian listing of AIA Group, the wholly owned unit of the American International Group Inc (AIG) that heads the Asian operations, the exercise would be the most extensive re-branding exercise since 1955 when the current AIA logo was introduced.

An industry source told StarBiz that this would involve changing the names of businesses and buildings, which would symbolise AIA's future separation from AIG and establish its identity as a truly pan-Asian insurer.

The re-branding would be seen in Malaysia, Singapore, Australia, Brunei, China, Hong Kong, Indonesia, South Korea, Thailand and Vietnam, subject to regulatory approvals in those countries.

Through an extensive network of 250,000 agents and more than 20,000 employees across 14 markets and jurisdictions, AIA Group now serves over 20 million customers in the region. Thailand and Malaysia are its fastest growing markets.

On the listing of AIA Group, the source said AIG was taking steps to accelerate the listing to position AIA Group as an independent entity but would be subject to market conditions and regulatory approvals.

She said the proposed listing would not impact AIA's operations in Malaysia as the locally incorporated entity, AIA Bhd, was governed by the local regulatory authorities.

Earlier reports have described the proposed listing as an attempt to distance the Asian insurance arm from its parent group, whose reputation has been overshadowed by a huge Washington bailout after it was battered at the onset of the credit crisis last year.

However, AIG did not disclose which stock exchange it was planning to use.

In a report last month, AFP quoted AIA Group president and chief executive officer Mark Wilson as saying the listing announcement represented a "clear and formal roadmap for our independence".

Up to a third of AIA would be floated on the Hong Kong Stock Exchange to raise between US$5 billion (S$7.29 billion) and US$10 billion in the first quarter of next year, it added.