Aviva follows its departure from the French market with the sale of its remaining Italian business units
The insurer confirmed the sale of its Italian life and general insurance businesses, known as Aviva Italy collectively, for €873 million (£753m). Including Unicredit Group's 49% shareholding in Aviva S.p.A, the deal is valued at €1.2 billion. Aviva has offloaded its Italian life insurance business to CNP Assurance and general insurance business to Allianz for €543m and €330m respectively. Last month, Aviva sold its French business unit for €3.2 billion as part of its transformation strategy, which will allow the firm to focus on its core operations in the UK, Ireland and Canada. Si...
To continue reading this article...
Join COVER for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.
