Sri Lanka’ AIA Insurance unit discloses values ahead of split

Mar 05, 2014 (LBO) – Sri Lanka’s AIA Insurance Lanka Plc said it had valued its general insurance business ahead of a split of life and non-life divisions under a regulatory requirement in the third quarter of 2014. AIA Insurance Lanka said it was using its “best and reasonable endeavors to brief shareholders of a possible value” at which a transfer may be made.

The firm said at December 31, 2013 its general insurance business had a net asset value of 1.89 billion rupees.

It was forecasting the value “not to exceed” 2.4 billion rupees, the firm said in a stock exchange filing.