AIA said to near deal for Bank of East Asia’s life insurance arm

AIA said to near deal for Bank of East Asia’s life insurance arm

A branch of the Bank of East Asia is seen in Singapore. REUTERS/Pablo Sanchez

AIA Group Ltd. is nearing a deal to buy the life insurance unit of Bank of East Asia Ltd., the Hong Kong-based lender whose shareholders include Paul Singer’s Elliott Management Corp., according to people familiar with the matter.