Aviva Exits Vietnam

Financial services giant Aviva has agreed to sell the entire shareholding of its wholly owned life insurance business in Vietnam to Manulife for an undisclosed all-cash consideration.

The transaction is subject to certain closing conditions, including regulatory approval, and is expected to complete in the second half of 2021. The move follows Aviva’s sale of its Singapore business as the firm looks to exit non-core operations in both Asia and mainland Europe.