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AIA Group Ltd To Acquire Stake In Aviva NDB Insurance Plc


Wednesday, 26 Sep 2012 08:00pm EDT 

Aviva NDB Insurance Plc announced that AIA Group Ltd has agreed to acquire a 92.3% stake in the Company through Aviva NDB Holdings Lanka (Pvt.) Limited from British insurer Aviva and Sri Lanka's National Development Bank. In addition, Aviva NDB will enter into a 20 year bancassurance agreement with NDB. AIA has also agreed to sell to NDB the 83.9% stake in NDB Aviva Wealth Management Limited which will be acquired by NDB Group as part of the proposed transaction.