LONDON, UK: Aviva Plc, the UK’s largest insurer, announced its 2023 annual results on Thursday, showing a 9% increase in group operating profit to £1,467m and a 12% increase in solvency II operating own funds generation to £1,729m. The company also declared a final dividend of 22.3 pence per share, up 8% from the previous…
LONDON: Aviva plc announced the acquisition of Probitas Holdings for consideration of £242 million, a company announcement said. The transaction includes the acquisition of Probitas’s fully-integrated Lloyd’s platform, encompassing its Corporate Member, Managing Agent, international distribution entities and tenancy rights to Syndicate 1492. Amanda Blanc, Group Chief Executive Officer of Aviva, said: “This acquisition is…
LONDON, UK: Aviva plc today announced the acquisition of Optiom O2 Holdings Inc from Novacap and other minority shareholders for consideration of c.£100 million. Optiom, which operates as a managing general agent (“MGA”), is a leading provider of vehicle replacement insurance in Canada and offers flexible payment options to customers. The acquisition expands Aviva’s capital-light…
LONDON, UK: Aviva plc has agreed to sell its 25.9% stake in Singapore Life Holdings Pte Ltd (Singlife), together with two debt instruments, to Sumitomo Life Insurance Company for total consideration of £0.8 billion (SGD 1.4 billion) payable in cash at closing. Sumitomo Life will pay consideration of £0.5 billion (SGD 0.9 billion) for Aviva’s…
LONDON, UK: Aviva plc announced the acquisition of Succession Wealth for a consideration of £385 million, a bourse filing noted on Wednesday. The transaction significantly enhances Aviva’s presence in the fast-growing UK wealth market as more people seek advice for their retirement and savings options. The UK wealth market was worth an estimated £1.6 trillion…
LONDON: Aviva Plc has sold its remaining Italian Life and General Insurance businesses (Aviva Italy) for €873 million in cash. This values the businesses at €1.2 billion including Unicredit Group’s 49% shareholding in Aviva S.p.A. Key highlights: · Sale of Aviva’s Life insurance business1 to CNP Assurances for €543m, and · Sale of Aviva’s General…
LONDON: Aviva Plc has sold Aviva France to Aéma Groupe for €3.2 billion in cash, a news release said. Key highlights: · Significantly strengthens Aviva’s capital and liquidity with an increase in excess capital3 of c. £2.1bn and centre cash3 of c. £2.8bn · Realises significant value for shareholders: all cash consideration at 0.8x Solvency…
Aviva plc is a British multinational insurance company headquartered in London, England. It has about 33 million customers across 16 countries. In the United Kingdom, Aviva is the largest general insurer and a leading life and pensions provider. Aviva also has a focus on the markets in Europe and in Asia and, in particular, on…
LONDON: Aviva plc confirmed the completion of the sale of Friends Provident International Limited (FPIL) to RL360 Holding Company Limited, a subsidiary of International Financial Group Limited (IFGL). Aviva is a leading international savings, retirement and insurance business. Under the revised structure, Aviva has sold a 76% shareholding in FPIL to IFGL for £259 million,…
LONDON: Aviva plc, an international savings and insurance business has agreed to exit Indonesia by selling its entire shareholding in its joint venture in Indonesia, PT Astra Aviva Life, to Aviva’s joint venture partner, PT Astra International Tbk. The transaction is expected to complete in Q4 2020 and is subject to certain closing conditions, including…