German insurer Allianz, Nippon Life and MS&AD Insurance are competing with rivals to buy the Singapore and Vietnam businesses of Britain's Aviva in an estimated $2.5bn deal. Canada-based Sun Life Financial as well as Manulife Financial are also in the race. These firms are vying with half a dozen bidders competing for the businesses Reuters reported quoting sources familiar with the development. Aviva confirmed earlier this year that it was examining options for a sale of the business as part of a new strategy designed to revitalise the company. The first round of formal bidding, whic...
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