Aviva has agreed to sell the entire shareholding in its wholly-owned life insurance business in Vietnam, Aviva Vietnam Life Insurance Company, to Manulife Financial Asia for an all cash consideration. The transaction is expected to increase Aviva's IFRS Net Asset Value and Solvency II surplus by £100m. 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 sale is subject to certain closing conditions, including regulatory approva...
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