Canada's Sun Life Financial Inc and Malaysian state investor Khazanah will purchase the Malaysian insurance joint venture of Britain's No.2 insurer Aviva Plc and lender CIMB Group.The deal helps Sun Life, Canada's No. 3 insurer, expand in Southeast Asia, a region that insurers are increasingly interested in because of its rapid growth, high savings rates, and young population.Aviva is exiting markets across the world to boost its underperforming share price.Sun Life and Khazanah Nasional Bhd will buy 49 percent each in CIMB Aviva Assurance Berhad and Islamic insurer CIMB Aviva Takaful Berhad for C$586 million ($594 million). CIMB Group Holdings Berhad will retain a 2 percent stake.
Aviva plc (Aviva) is an insurance group. Aviva is engaged in the provision of products and services, such as long-term insurance and savings, fund management and general insurance. Shares of AV remained unchanged at $11.81. In the past year, the shares have traded as low as $7.78 and as high as $12.63. On average, 122580 shares of AV exchange hands on a given day and today's volume is recorded at 0.
Sun Life Financial Inc. (SLF Inc.) is the holding company of Sun Life Assurance Company of Canada (Sun Life Assurance). Shares of SLF remained unchanged at $28.33. In the past year, the shares have traded as low as $18.94 and as high as $28.48. On average, 396710 shares of SLF exchange hands on a given day and today's volume is recorded at 0.
Sun Life Financial Inc. (SLF Inc.) is the holding company of Sun Life Assurance Company of Canada (Sun Life Assurance). Shares of SLF remained unchanged at $27.94. In the past year, the shares have traded as low as $19.69 and as high as $28.06. On average, 1432550 shares of SLF.TO exchange hands on a given day and today's volume is recorded at 1024526.
Source
