Aviva sells its Singaporean subsidiary

The British insurer Aviva is selling its majority stake in its subsidiary Aviva Singapore to a consortium led by Singapore life (Singlife). The new entity will henceforth operate under the name: Aviva Sing Life.

The amount of the transaction has totaled 2 billion USD. Aviva still retains a 25% minority stake in the new company.

The transaction is subject to regulatory approval and is expected to be concluded by January 2021.

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