by Leonard Kehnscherper
Aviva is selling its stake in Singapore Life Holdings as the insurer continues to trim its portfolio around the world. Chief executive officer Amanda Blanc has refocused the firm on the UK, Ireland and Canada in recent years, selling off various units in other markets as it sought to boost shareholder returns. Still, Aviva’s shares have barely budged since Blanc took the helm three years ago.
Aviva Plc: The company agreed to sell its 25.9% stake in Singapore Life to Sumitomo Life for a total consideration of £0.8 billion. In 2022, Singlife contributed £17 million to Aviva's operating profit.
BAE Systems Plc: The defence company will build fighter-jet helmets featuring an augmented reality display and night-vision for the Royal Air Force as recent conflicts across the world spur the UK to modernise its armed forces.
GDP: The UK economy shrank at the quickest pace in seven months as dull weather held back spending and strikes hit the public sector, unwinding the strength of the previous month.
Copyright Bloomberg News
