Aviva to sell US division for £1bn

clock

Aviva is preparing to sell its US division at an estimated loss of £800m, according to reports.

The Sunday Telegraph reported that the US arm, which was bought in 2006 for £1.8bn, is likely to be sold for £1bn.

Pat Regan, chief financial officer at Aviva, is undertood to be spending a considerable amount of time at the US business' Iowa headquarters to prepare for a sale and to supervise the process.

The decision to sell up follows a strategy review led by recently appointed chairman John McFarlane.

Mr McFarlane announced at the beginning of July that the insurer would be withdrawing from 16 underperforming business segments in a bid to focus on higher returns.

He said Aviva was to exit the non-core segments that were set to produce returns below the group's required capital, although Aviva USA was not specified as one of the under-performing segments.

Aviva declined to comment for the article.


More on Insurer

The COVER Review: NHS waiting lists, insurer updates and everyday benefits

The COVER Review: NHS waiting lists, insurer updates and everyday benefits

Week commencing 8 September 2025

COVER
clock 12 September 2025 • 1 min read
L&G digitises life insurance claims submission process

L&G digitises life insurance claims submission process

Third parties able to submit online life claims

Jaskeet Briah
clock 11 September 2025 • 2 min read
Shepherds Friendly partners with Alula Technologies on underwriting

Shepherds Friendly partners with Alula Technologies on underwriting

Provider, Shepherds Friendly, has partnered with technology firm, Alula Technologies, to access a low-code underwriting platform.

Jaskeet Briah
clock 09 September 2025 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read