Aviva has sold its businesses in France and Italy for a combined £3bn.
The insurer completed the deals at the end of last week having announced the sales as part of its major restructuring programme.
The group sold its French arm to Aéma Groupe for £2.8bn. In it’s first half 2021 results published in August, Aviva said it expected a £538m loss on the sale of its France business.
Amanda Blanc, group chief executive officer of Avivia, (pictured) said: “This is a very significant step forward for Aviva. It greatly simplifies the company as we focus on our core businesses in the UK, Ireland and Canada.
“I am confident that Aéma, with its strong insurance heritage and reputation, will be an excellent owner of Aviva France. I wish the business and all its people every success for the future.”
Meanwhile, the sale of its Italian general insurance business to Allianz was also completed for £284m.
