This post was originally published on this site
AIA did not disclose a deal value for the sale, but said the business holds about A$8 billion ($5.77 billion) in funds under administration.
The Australian savings and investment business, which offers superannuation and retirement products, was acquired by AIA Australia from Commonwealth Bank of Australia (OTC:CMWAY) in 2020.
Hong Kong-based AIA’s largest market is mainland China, which along with Hong Kong accounts for about half of its business.
($1 = 1.3862 Australian dollars)
