Aviva has acquired Irish insurer Friends First for €130m, making Aviva one of the largest composite insurers in Ireland, subject to regulatory approval.
The insurer's market share in life insurance will increase to 15%, alongside its existing leading 15% market share in general insurance. The life insurance market in Ireland has grown by around 9% since 2014. Aviva Ireland said it has demonstrated consistent growth over the past few years, with an operating profit growth at HY 2017 of 12%. Friends First, currently owned by Dutch insurer Achmea Holding NV, has been operating in Ireland for over 180 years with a focus on life protection, pension and investment products for individuals and companies. It has over 250,000 custom...
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