Aviva adds S. Korea, Sri Lanka to Asia exit list

HONG KONG: British insurer Aviva plc is putting its South Korean and Sri Lankan businesses on the auction block, sources said, as part of a wider retreat from subscale Asian markets in a deal that could fetch around US$150mil.

Britain's second biggest insurer laid out plans last week to sell underperforming businesses globally, a strategy aimed in part at raising money to protect against its eurozone exposure, which is bigger than that of its rivals.