Aviva, Hillhouse, Tencent to Launch in Hong Kong Joint Venture
January 20 2017 - 4:52AM
Dow Jones News
By RazaK Musah Baba
LONDON--Insurer Aviva PLC (AV.LN), together with Hillhouse
Capital and Tencent Holdings Ltd., have agreed to develop an
insurance company in Hong Kong to focus on digital insurance.
Aviva said Friday that as part of the agreement, Hillhouse and
Tencent will acquire shares in Aviva Life Insurance Company Ltd.
(Aviva Hong Kong). Aviva and investment management firm Hillhouse
will each hold a 40% stake and Tencent 20%.
At 0830 GMT, Aviva shares were up 2 pence, or 0.4%, at 478
pence, valuing the company at 19.41 billion pounds ($24
billion).
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
January 20, 2017 04:37 ET (09:37 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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