Aviva is selling its stake in Singapore Life Holdings as the insurer continues to trim its portfolio around the world. Chief Executive Officer Amanda Blanc has refocused the firm on the UK, Ireland and Canada in recent years, selling off various units in other markets as it sought to boost shareholder returns.
(Bloomberg) — Aviva is selling its stake in Singapore Life Holdings as the insurer continues to trim its portfolio around the world. Chief Executive Officer Amanda Blanc has refocused the firm on the UK, Ireland and Canada in recent years, selling off various units in other markets as it sought to boost shareholder returns.
Key Business News
Aviva Plc: The company agreed to sell its 25.9% stake in Singapore Life to Sumitomo Life for a total consideration of £0.8 billion. In 2022, Singlife contributed £17 million to Aviva’s operating profit.
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For a more considered take on the UK’s economic and financial news, sign up to Money Distilled with John Stepek.
(Corrects to remove reference to Aviva share price performance.)
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