Aviva PLC Aviva completes sale of Hong Kong joint venture (2263I)

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RNS Number : 2263I

Aviva PLC

10 December 2020

10 December 2020

Aviva completes sale of Hong Kong joint venture

Aviva plc ("Aviva") today announces that it has completed the sale of its entire shareholding in its Hong Kong joint venture, Aviva Life Insurance Company Limited(1) ("Blue"), to its joint venture partner, Hillhouse Capital. The sale of Aviva's shareholding in Blue was announced on 20 November 2019.

This is the fourth transaction Aviva has completed this year. Aviva continues to work at pace, taking decisive actions to focus the portfolio and transform the company.

Notes:

   1.     Now known as Blue Insurance Limited. 

-ends-

Enquiries :

Media:

Andrew Reid [phone]

Sarah Swailes [phone]

Analysts:

Diane Michelberger [phone]

Notes to editors :

-- For information on how Aviva is helping our people, customers and communities impacted by COVID-19 visit: www.aviva.com/covid-19-our-response/

-- We exist to be with people when it really matters, throughout their lives - to help them make the most of life. We have been taking care of people for more than 320 years, in line with our purpose of being 'with you today, for a better tomorrow'.

-- In 2019, we paid GBP33.2 billion in claims and benefits on behalf of our 33.4 million customers.

-- We will focus on the UK, Ireland and Canada where we have leading market positions and significant potential. We will invest for growth in these markets. Our International businesses in Europe and Asia will be managed for long-term shareholder value. We will also transform our performance and improve our efficiency. Our transformation will be underpinned by managing our balance sheet prudently, reducing debt and increasing our financial resilience.

-- Total group assets under management at Aviva group are GBP522 billion (HY20) and our Solvency II capital surplus is GBP11.8 billion (Q320). Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.

-- For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us

-- The Aviva newsroom at www.aviva.com/newsroom includes links to our image library, research reports and our news release archive. Sign up to get the latest news from Aviva by email.

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December 10, 2020 06:30 ET (11:30 GMT)