Bank of East Asia to sell non-life insurance businesses to AIA for $278m

Bank of East Asia to sell non-life insurance businesses to AIA for $278m

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

Bank of East Asia said late on Friday it has agreed to sell its non-life insurance and healthcare services businesses to a unit of AIA Group Ltd for an aggregate HK$2.168 billion ($278 million).