Aug 27 - Canadian insurer Manulife Financial Corp (MFC.TO) and Switzerland's Ace Ltd (ACE.N) are among bidders for New York Life Insurance Co's [NYLIN.UL] Hong Kong, Taiwan and South Korean assets up for sale, sources said, in a deal valued between $800 million and $1 billion.
Unlisted NY Life was pulling out of the three marginal Asian markets and had mandated Deutsche Bank AG (DBKGn.DE) to run the auction, sources with knowledge of the matter said.
NY Life, Manulife, Deutsche Bank and ACE declined to comment.
The sources declined to be identified as the sale process was not public. (Reporting by Denny Thomas; additional reporting by Michael Flaherty, Cameron French and Steve Eder; Editing by Chris Lewis)