The reshaping of Aviva under Executive Chairman John McFarlane continues apace, with the insurance titan announcing the sale of its controlling interest in its Sri Lankan joint venture, Aviva NDB Holdings Lanka.
American International Assurance, a subsidiary of AIA Group, is buying Aviva's 58.44% in the joint venture (JV) for a consideration of £31m payable in cash. The minority partner in the JV is Sri Lankan financial group NDB Bank.
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