Asian insurance giant AIA Group Ltd. is considering selling some life insurance legacy assets in Australia as part of its strategy to streamline its portfolio, according to people familiar with the matter.
Closely-held Resolution Life has emerged as the likeliest buyer for certain policies related to AIA’s acquisition of Commonwealth Bank of Australia’s life insurance business, the people said, asking not to be identified because the matter is private. A transaction could help Hong Kong-based AIA raise a few hundred million dollars, they said.
