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Aviva plc has agreed to sell Aviva USA Corporation, its U.S. life and annuities business, and related asset management operations to Athene Holding Ltd for U.S.$1.8 billion.  Aviva will retain the North American asset management activities of Aviva Investors that are focused on third parties, and Aviva plc assets outside of the USA.

John McFarlane, chairman of Aviva plc, said: “The sale of Aviva USA is an important step forward in the delivery of our strategic plan. It considerably strengthens Aviva’s financial position, increases group liquidity and improves our economic capital surplus whilst also reducing its volatility.

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