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LONDON: British insurer Aviva will restructure its British business and cut costs across the firm with the loss of 1,800 jobs globally as it new chief executive seeks to make the business more competitive.
LONDON: British insurer Aviva agreed terms for a 5.6 billion pounds (US$8.8 billion) takeover of rival Friends Life in all share deal which creates a market leader with 16 million life insurance customers.
PETALING JAYA: CIMB Group and UK-based Aviva Plc are expected to finalise the buyers of their 51% and 49% stakes respectively in joint venture CIMB Aviva Assurance Bhd this week, according to a source with knowledge of the deal.
HONG KONG: Mark Wilson, the former chief executive of Asian life insurer AIA Group, has emerged as the leading candidate for the top job at UK insurer Aviva, the i>Financial Times/ireported on Saturday.
LONDON: British insurer Aviva Plc could buy thousands of homes in London and the southeast of England to use as rented properties in a deal with social housing provider A2Dominion, the Financial Times reported on Sunday, citing people familiar with the situation.
PETALING JAYA: With the chapter closed on the sale of INGs Malaysian insurance operations to AIA Group Ltd, attention on the insurance realm has now turned towards CIMB Aviva Assurance Bhd being divested.
KUALA LUMPUR: Unfazed by the growing competition in the insurance sector, CIMB Aviva Assurance Bhd is on track to becoming the country's top bancassurance and takaful player by 2011.
Aviva Plc, the world's fifth largest insurance group, is confident its joint venture with the CIMB group will clinch the top five position in Malaysia's life insurance and I>takaful/Isector in three to five years.
LONDON: British insurer Aviva said on Friday it had agreed terms on a possible deal to buy rival Friends Life for 5.6 billion pounds (US$8.8 billion) as British pension reforms put pressure on insurance companies to find new business.
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.