for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

British insurer Aviva to sell Singapore business for $1.98 billion

Sept 11 (Reuters) - British life, motor and home insurer Aviva said on Friday it will sell its majority shareholding in its Singapore business to a consortium led by Singapore Life for S$2.7 billion ($1.98 billion), as the company reduces focus on Asia.

The Singlife consortium includes alternative asset firm TPG, which will become the largest shareholder in the new group on completion, Japanese insurer Sumitomo Life and other existing Singlife shareholders. ($1 = 1.3664 Singapore dollars) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Sriraj Kalluvila)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up