Aviva said it had completed more than 90 per cent of the wide-ranging disposal plan the UK insurer launched in the summer to shore up its balance sheet after it raised a further £152m in cash by selling its Malaysian joint venture, CIMB-Aviva. Canada’s Sun Life Financial and Khazanah, the Malaysian sovereign wealth fund, agreed on Thursday to buy the business from Aviva and its joint venture partner, the lender CIMB. The Malaysia disposal means Aviva is on track to raise £2.5bn from a series of deals around the globe in recent months, including the sale last week of its remaining stake in Amsterdam-listed Delta Lloyd.
