Aviva completes sale of Aviva France for £ 2.8 billion deal


Aviva today confirmed the sale of its French life insurance, property and casualty and asset management businesses, after first announcing the transaction in February.

The move is part of its broader transformation strategy to focus on the core markets of the UK, Ireland and Canada.

Aviva CEO Amanda Blanc said: “This is a very important step forward for Aviva. This greatly simplifies the business as we focus on our core businesses in the UK, Ireland and Canada.

“I am convinced that Aéma, with its heritage and reputation in insurance, will be an excellent owner of Aviva France. I wish the company and all its employees every success for the future.

Blanc said the sale was an “important step” in the execution of his strategy and was a “great result” for shareholders, customers, employees and distributors.

Aviva sold most of its European business this year as part of its transformation strategy.

In March, Aviva confirmedthe sale of its Italian life and general activities, Aviva Italy, for 873 million euros (753 million pounds sterling). It was sold to CNP Assurance and the property and casualty insurance business to Allianz for € 543 million and € 330 million respectively.

End of March, Avivaconfirmed the sale of Aviva Poland, a transaction valued at 2.7 billion euros (£ 2.3 billion) to Allianz.

It included its life insurance activities in Poland and Lithuania, and its Polish general insurance, asset management and pension activities, as well as a portfolio of financial advisory, digital distribution and comparison activities. of price.

Similar to its French and Italian sales, Aviva said its product will be used to facilitate Aviva’s capital framework for debt reduction, investing for long-term growth and returning excess capital to shareholders. .

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