Aviva Sells Italy Units to Allianz, CNP in $1.1 Billion Deal
- Insurer has divested its main non-core units under new CEO
- Firm is also looking for a new London office headquarters
Photographer: Jason Alden/Bloomberg
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Aviva Plc has exited its Italian businesses in a pair of deals totaling 873 million euros ($1.1 billion) as the U.K. insurer continues to pivot toward its core markets.
CNP Assurances and Allianz SE bought the London-based firm’s Italian life and general insurance units respectively, according to a statement Thursday. Those deals, following the company’s recent French sale, mean the firm has now completed the bulk of its planned exits from non-core areas.