Debevoise & Plimpton has advised AIA Group in the agreement to sell its Australian Superannuation & Investments business to Resolution Life Australasia Limited.

The business comprises an in-force portfolio of superannuation, retirement and investment products with more than AUD8 billion of funds under administration, which is a constituent part of the life insurance businesses that transferred to AIA Australia following the acquisition of The Colonial Mutual Life Assurance Society Limited from Commonwealth Bank of Australia. The transaction is subject to regulatory approval.

The Debevoise team advising AIA Group was led by partner Edwin Northover, and included international counsel Jan Buschmann.