UK insurance giant Aviva looking to sell Asia business valued at over $2.75b: Sources

Aviva is working with a financial adviser on a possible sale, with a formal process likely to begin in the fourth quarter, the sources said.
Aviva is working with a financial adviser on a possible sale, with a formal process likely to begin in the fourth quarter, the sources said.PHOTO: REUTERS

HONG KONG (REUTERS) - British life and general insurer Aviva is looking to sell its Asia business, valuing the unit at more than US$2 billion (S$2.75 billion), two sources familiar with the matter told Reuters.

Aviva is working with a financial adviser on a possible sale, with a formal process likely to begin in the fourth quarter, the sources said.

There is no certainty of a sale, which will depend on the outcome of a review of the Asian business to be completed by the end of this quarter, the sources said.

Aviva declined to comment.