HONG KONG—AIA Group Ltd., the pan-Asian life insurance unit of American International Group Inc., is looking to raise up to US$17.1 billion, including the overallotment option, from an initial public offering in Hong Kong, a person familiar with the deal said Monday.

The company set a price range of HK$18.38 to HK$19.68 for the shares, according to a person familiar with the deal.  To read more, please follow this link.