Tue, 19 Oct 2021 Today's Paper

Aviva UK to sells stake in Aviva NDB

27 September 2012 04:02 am - 1     - {{hitsCtrl.values.hits}}

A A A

Aviva UK says it agrees to sell its controlling 58.44 percent in Aviva NDB to American International Assurance Company to 31million Euro ($50.05 Million) payable in cash.

Meanwhile Market Watch stated that AIA, 13.7% owned by American International Group Inc. AIG -1.00% , agreed to purchase a 92.3% stake in Aviva NDB Insurance PLC for $109 million in cash from British insurer Aviva PLC and Sri Lanka's National Development Bank, it said in a statement.

The transaction includes a 20-year exclusive bancassurance agreement with NDB, one of Sri Lanka's major financial conglomerates with a nationwide bank branch network, as well as AIA's sale of an 83.9% stake in NDB Aviva Wealth Management Ltd.

Sri Lanka has "a compelling combination of strong economic growth prospects and low existing levels of insurance penetration," AIA Chief Executive Mark Tucker said in a statement, adding that Sri Lanka is AIA's 16th market in Asia Pacific.

The transaction is subject to approval by the Department of Exchange Control in Sri Lanka, the review of which is expected to be completed by the end of 2012, AIA said, adding that the acquisition will be funded by existing cash resources.
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 1

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  • RamUK Thursday, 27 September 2012 07:08 AM

    good choice .. well done aviva board


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


How a 19-year-old TikToker is helping bring back the Woolly Mammoth!

A young TikTok star and his friends are helping an ambitious gene editing pro

Unmasking Sri Lanka’s Pyramid Parasites

A Financial Cancer Spreading Through Sri Lanka Again...

Writing Letters to Michele Bachelet Causes Turmoil Within the TNA

The Tamil National Alliance(TNA) is currently in a state of great turmoil. Th

A state-sponsored elephant racket in the works

A controversial new gazette has been issued seeking to employ elephants for w