Sumitomo Life to acquire a 26% stake in Singlife from Aviva for £800m.

Transaction Tags

• life insurance
• Singapore
• Life Insurance
• Acquisition
• Minority
• Pending
• Single Bidder
• Disposal
• Cross Border
• Friendly
• Private

Synopsis

Sumitomo Life, a mutual life insurance company, agreed to acquire a 26% stake in Singlife, a life insurance company, from Aviva, a multinational insurance company, for £800m. "This is a good outcome for Aviva. The transaction further simplifies the business and we are in a very strong position to build on our trading momentum in the UK, Ireland and Canada," Amanda Blanc, Aviva CEO.

Sources