Companies
Old Mutual sells Italian business to Cinven for €278m
Old Mutual Wealth has agreed to sell its Italian business to European private equity firm Cinven for €278m (£236m, $308m).
Strong FPI performance helps lift Aviva’s half year profits
A strong performance by Friends Provident International (FPI) saw Aviva’s operating profit from Asia rise nearly 50% for the first six months of 2016 driven in part by strong sales of protection products and retail health schemes in Singapore.
Sun Life Financial to buy FWD Hong Kong’s pension business
The Hong Kong arm of Canada’s Sun Life Financial is to acquire the pension business of FWD Group and enter into an exclusive 15-year distribution agreement that will allow Sun Life HK to distribute its pension products through FWD’s agency force in Hong Kong.
Woodford asks for patience over trust
High profile fund manager Neil Woodford has sought to reassure investors in Woodford Patient Capital Trust that it will deliver for them if they stick with it.
Belize offshore bank sees a run on deposits after Fatca probe
An offshore bank in Belize, owned by prominent UK businessman Lord Ashcroft, has seen a sharp outflow of deposits following a US crackdown on tax evasion.