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Aviva approached for sale of U.S. life unit (Reuters)

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Offers for Aviva U.S. are coming in before the Britain-based insurer has even secured an investment bank to handle the sale. Approaches have come from financial and private equity buyers for the U.S. unit that has an estimated value of $1.57 billion. The sale is part of Aviva’s plan to sell or close more than a quarter of its businesses to turn around its share price and regain investor support. Its stake in Delta Lloyd was sold in July, and Prudential and Manulife are among the bidders for Aviva’s business in Malaysia, which is estimated at $500 million.