UPDATE 1-Aviva cites high renewal costs in the end of DBS bancassurance relationship

April 8, 2015 3:42 PM

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LONDON, April 8 (Reuters) - Aviva said its attempts to extend its bancassurance agreement with Singapore's DBS Bank Ltd were hamstrung by high renewal costs that were neither "economically viable or justifiable" to shareholders.

The announcement on Wednesday marked the end of a 14-year relationship that spearheaded the British insurer's expansion into Asia's thriving wealth and insurance sector.

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