Aviva open to bolt-on deals but unlikely to buy further in Lloyd’s, says Blanc
Aviva will maintain a “selective and disciplined approach” to mergers and acquisitions, according to group CEO Amanda Blanc as she indicated the insurer is not eyeing synergies with a Direct Line bid.
The insurer revealed the £242m deal for Probitas earlier this week, returning Aviva to the market after an absence of more than 20 years.
The buy gives Aviva “new opportunities to accelerate growth in our capital light general insurance business”, stated Blanc, pictured.
PortfolioAccording to Blanc, recent deals, including the £460m purchase of AIG Life announced last September, have either consolidated positions of strength or filled gaps in the portfolio.
On Probitas, she continued: “We didn’t
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