Aviva shifts eastern Europe businesses
Insurance giant Aviva said it had completed the sale of its Czech, Hungarian and Romanian business to US life assurance firm MetLife.
Insurance giant Aviva said it had completed the sale of its Czech, Hungarian and Romanian business to US life assurance firm MetLife.
The firm added that the sale of its Romanian Pensions business was expected to go through later this year subject to regulatory approval.
"This transaction is consistent with Aviva's strategy to focus on fewer business segments, where it can produce attractive returns," the company said in a statement.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Norwich-based insurance multinational said at the start of the year it would reduce its presence in eastern Europe as it continues to focus on markets where it has strength and scale.
At the time Aviva said the combined net assets of the businesses on the block were around €57m at mid-2011.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Warning as Brits face €6,900 fine if they fail to follow new Spanish travel insurance rule
Tourists are being warned of new rules in Spain that mean you must have fully comprehensive health cover in your travel insurance
-
Rachel Reeves to announce permanent 95% mortgage guarantee scheme
Mortgages offered through the scheme will mean first-time buyers and home movers can buy a home with a deposit of just 5%