Deals
Aviva to Exit a Third of Business as Insurer Boosts Capital
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Aviva Plc, the U.K.’s second-biggest insurer by market value, plans to exit almost a third of its units to bolster capital reserves and limit the impact of further turmoil in the euro region.
The insurer plans to sell 16 non-core divisions including U.K. bulk-purchase annuities, its South Korean unit and some partnerships in Italy, the London-based firm said today in a statement. Aviva today started selling a 275 million-euro ($341 million) stake in Delta Lloyd NV, the Dutch unit it spun off last year.