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Aviva to sell entire shareholding in Aviva Vietnam to Manulife

Written by Adam Cadle
14/12/2020

Aviva has agreed to sell the entire shareholding in its wholly-owned life insurance business in Vietnam, Aviva Vietnam, to Manulife.

The transaction is expected to increase Aviva’s IFRS Net Asset Value and Solvency II surplus by c.£0.1bn.

As part of the transaction, Manulife will enter into a new distribution agreement with Aviva Vietnam’s existing exclusive bancassurance partner, Vietnam Joint Stock Commercial Bank for Industry and Trade.

The transaction is subject to certain closing conditions, including regulatory approval, and is expected to complete in the second half of 2021.

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