AIA Insurance Lanka Plc, said it had reached a deal with Janashakthi Insurance Plc to sell its general insurance business for 3.2 billion rupees.

AIA said the sale will allow it to focus on life insurance according to the strategy of its parent, the firm said in a stock exchange filing.

Janashakthi said the acquisition will help expand is market share in general insurance

Both AIA and Janashakthi are listed companies.

(Economy Next)