U.K. insurer Aviva (AV) and Singapore listed CIMB Group (CIMDF.OB) have reportedly agreed to...

|About: Aviva plc (AV)|By:, SA News Editor

U.K. insurer Aviva (AV) and Singapore listed CIMB Group (CIMDF.OB) have reportedly agreed to sell their Malaysian insurance JV to a consortium of Canada's Sun Life Financial (SLF) and Malaysian state investor Khazanah Nasional for 1.7B ringgit ($563M). The winning bid beat Manulife (MFC) after an 8-month auction. The sale is part of Aviva's strategy of exiting non-core ops.