Mitsui Sumitomo purchases Aviva's general business

Japan''s number two general insurer makes large push into Asia.

Japan's second largest general insurer, Mitsui Sumitomo Insurance Co Ltd MSI, has gained a larger foothold in the region with the purchase of Aviva plc's general franchise in key Asian markets. The deal, which will cost the Japanese insurer $450 million in cash, will net it the British-based firm's entire general insurance business in Asia.

According to Aviva, the decision to sell the general side follows a refocusing on the long-term savings businesses in the...

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