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.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Best funds to add to your ISA or SIPP before the Budget
With Labour expected to increase taxes, ISAs and SIPPs could be a great way to protect yourself from any CGT hikes. We look at the best funds to buy now
By Katie Williams Published
-
Starling Bank slapped with £29 million fine over ‘shockingly lax’ financial crime controls
The Financial Conduct Authority has fined Starling Bank £29 million over failings related to financial crime and its financial sanctions screenings
By Kalpana Fitzpatrick Published