Bankers to Aviva have received first-round bids for the UK insurance group’s A$1bn ($778m) Australian life assurance business. The auction of Aviva’s Australian assets is now down to a handful of bidders, including some of Australia’s biggest banks. NAB and Westpac are bidding alongside other parties including insurers Axa Asia Pacific and Australia’s AMP. It is unclear whether a joint venture between ANZ bank and ING is still in the auction.

This entry was posted by Gwen Robinson on Monday, May 25th, 2009 at 4:07 and is filed under Capital markets, M&A. Tagged with AMP, aviva, axa, nab, westpac. Edit this entry.