Aviva continues consolidation with Italy exit

Focus on 'core' markets

John Brazier
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Aviva continues consolidation with Italy exit

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,...

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