Deals
Japan’s MS&AD, Manulife Are Competing for Aviva’s Asian Assets
- Aviva Singapore, Vietnam business sale enters final stage
- Valuation could be slightly below the $3 billion Aviva sought
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Japan’s MS&AD Insurance Group Holdings Inc. and Canada’s Manulife Financial Corp. are vying to buy Aviva Plc’s assets in Singapore and Vietnam as the sale process enters its final stage, according to people familiar with the matter.
FWD Group Ltd., an acquisitive insurer backed by billionaire Richard Li, is also in the race, but it’s only shown interest in acquiring Aviva’s Singapore business, the people said. Singapore is Aviva’s biggest market.