Aviva completes £249m Probitas buy

Lloyds

Aviva has completed the £249m purchase of Probitas after getting all the necessary approvals.

The deal, first announced on 4 March, sees the insurer re-enter the Lloyd’s market after a more than 20-year gap.

In 2000, Aviva, then known as Norwich Union, closed its CGNU Global Risks and sold its Lloyd’s managing agency Marlborough to the Berkshire Hathaway Group, following a merger with CGU.

The transaction includes specialist lines-focused Probitas’s fully integrated Lloyd’s platform, encompassing its corporate member, managing agent, international distribution entities and tenancy rights

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