Aviva is reviewing its future in the east. Selling the subscale division, worth as much as $4 bln, is a step in the right direction. AlecMac11 and CGAThompson write:
UK life and general insurer Aviva said Aug. 8, as part of its half-year earnings announcement, that it would review strategic options for its Asian businesses.
Aviva said its operating profit for the six months rose 1% from a year earlier to 1.4 billion pounds. Reuters reported on Aug. 1 that Aviva was considering a sale of its Asia business in a deal that would value the division at more than $2 billion, citing two sources familiar with the matter. Aviva’s Asia business focuses on China, India, Indonesia, Vietnam, Hong Kong and Singapore. The unit made £152 million in operating profit in the first half of 2019, 26.7% more than in the same period last year.
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