AIA Group Ltd (1299.HK)
SYDNEY Australian No. 4 lender Australia and New Zealand Banking Group Ltd sold its pension unit to financial services company IOOF Holdings for A$975 million ($766 million), continuing the rush of banks quitting non-core divisions.
SYDNEY, Oct 17 Australian No. 4 lender Australia and New Zealand Banking Group Ltd sold its pension unit to financial services company IOOF Holdings for A$975 million ($766 million), continuing the rush of banks quitting non-core divisions.
BANGKOK, Oct 12 Bangkok Bank PCL has reached a new 15-year distribution agreement for a strategic bancassurance partnership with Hong Kong’s AIA Group LTD , the companies said on Thursday.
(The following statement was released by the rating agency) HONG KONG, September 28 (Fitch) Fitch Ratings has affirmed AIA Company Limited's and AIA International Limited's Insurer Financial Strength Ratings of 'AA' and AIA Group Limited's (AIA) Long-Term Issuer Default Rating of 'A+'. The Outlook is Stable. The ratings affirmation reflects our view that AIA's credit profile will remain solid following the proposed acquisition of Commonwealth Bank of Australia's (CBA; AA-/Stable) life insurance
* CBA's $3.05 bln asset sale follows NAB's life insurance sale
SYDNEY Commonwealth Bank of Australia said on Thursday it had agreed to sell its life insurance arm to Hong Kong's AIA Group Ltd for $3.05 billion, in the biggest Asian buyout of an Australian financial services firm.
* To acquire Commonwealth Bank of Australia's life insurance businesses in Australia and New Zealand for A$3.80 billion
Sept 21 Australia's biggest lender Commonwealth Bank of Australia said on Thursday it would sell its life insurance unit to China's AIA Group Ltd for A$3.8 billion ($3.05 billion).
* Divests Australian and New Zealand life insurance businesses
HONG KONG Hong Kong-based insurer AIA Group Ltd is close to acquiring Commonwealth Bank of Australia's (CBA) insurance business which is likely to be valued at nearly $4 billion, two people with direct knowledge of the matter said.