Sun Life and Khazanah to pay $600 million for Malaysian insurer

The deal values CIMB Aviva at a generous premium, but the real prize is a long-term bancassurance deal with CIMB.

Sun Life Financial, Canada’s third-biggest insurer, has teamed up with Khazanah Nasional to buy 98% of CIMB and Aviva’s Malaysian life insurance joint venture in a deal valued at M$1.8 billion ($600 million).

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