Aviva completes sale of its entire shareholding in Aviva Vita
Authored by Aviva
Aviva plc has announced that it has completed the sale of its entire 80% shareholding in the Italian life insurance joint venture, Aviva Vita S.p.A., to its partner UBI Banca.
Aviva received €453m (£386m) in cash consideration, which includes €40m received for the replacement of a subordinated loan provided by Aviva Italia Holding S.p.A. to Aviva Vita.
The sale of Aviva’s shareholding in Aviva Vita was announced on 23 November 2020.
The previously announced sales of Aviva’s remaining Italian Life insurance business and general insurance business are on track to complete in the second half of 2021.
Aviva Insurance Limited is one of the UK’s leading insurance companies, part of the Aviva group with 34 million customers Worldwide. Aviva Insurance has been in the insurance business for more than 300 years. In UK commercial, the insurance market remains challenging for insurance brokers and customers, due to the ongoing economic conditions. Aviva Insurance are focusing on improving our processes to ensure Aviva provide commercial customers with insurance cover at an acceptable price. Insurance brokers also recognised our excellent customer service by voting us Insurance Times General Insurer of the Year in 2012, for the second year running. youTalk-insurance sharing Aviva insurance news and video.
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