AIA eyes East Asia acquisitions

MANILA, Philippines - The AIA Group is acquiring the Malaysian and Thailand branches of the ING Group, which is selling assets to comply with European Union orders. Reports indicate that the final terms to sell its business may amount to roughly about 1.4 billion euros ($1.8 billion). AIA chief executive officer Mark Tucker reportedly said that the acquisition “would add value to investors and are financially viable.” AIA will also be acquiring Aviva NDB Insurance Plc (CTCE), Sri Lanka’s second-largest life insurer.