Life reinsurance
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Jenny Yu, who was at the German reinsurer for nine years, will join the broker in January.
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The Sigma report said the expansion will be led by China. -
The executive took over the finance role from Tom Stoddard in July.
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Singaporean and Vietnamese businesses are reportedly in scope for disposal.
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The state-established company will take control of the P&C, life, pension and asset management operations.
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The business is likely to be valued at around $500mn, according to market sources.
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Practice group chairman Roger Smith says the unit will help the broker respond to clients’ needs strategically.
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The development follows Aviva’s review of its Asian life, general and health insurance unit.
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The acquisition from Quilter will add £12bn in assets to ReAssure’s platform.
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The CFO tells analysts the US MidCorp business will come under particular scrutiny.
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The UK’s Aviva is considering putting its Asian division up for sale, the Business Times of Singapore reported.
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The exercise of the over-allotment option follows the sale of $834mn of shares in June.
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