Aviva to sell Singlife joint venture stake in a bid to streamline business
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Aviva to sell Singlife joint venture stake in a bid to streamline business

Abbie Day
13 September 2023
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Aviva has agreed to sell its 25.9% stake in Singapore Life Holdings, together with two debt instruments, to Sumitomo Life Insurance Company for a combined £800mn ($997mn), as part of its strategy to simplify the business.

Sumitomo Life will pay consideration of £500mn for Aviva’s equity stake and £300mn for the two debt instruments. The transaction is expected to complete in Q4 2023.

Aviva

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