Aviva Singapore to sell majority stake and merge with Singlife

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Avivia, the UK insurer, has announced the sale of its Singapore business to its local rival for £1.6bn. Aviva Singapore will retain a 25% minority share in the business, the company confirmed. The new entity will be known as Aviva Singlife. Singlife will become the largest shareholder in the new company. According to Aviva, Ray Fergusonwill continue as the chairman of Aviva Singlife. Singlife's group CEO,Walter de Oude,will be deputy chairman and current Aviva Singapore CEO Nishit Majmudarwill be appointed CEO. Amanda Blanc, Aviva's CEO, said the sales is "a significant first step ...

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Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.