We may still quit Europe over new capital rules, says the Pru
Aviva has put its Malaysian operations on the block and is close to hiring a bank to help with the sale process, according to reports, as the insurer exits non-core markets.
The deal – in its early stages – could fetch about $200m. Aviva would not comment.
One source said the sale process has not been launched and the recent shake-up in the company’s top ranks – chief executive Andrew Moss stepped down this week after a shareholder revolt over pay – could slow the sale.
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Hide AdRapid economic growth and the rise of the middle class in Asia is driving demand for insurance products. Companies with sub-scale operations are finding it hard to gain market share and improve profitability.