Potential Aviva sale to shape outlook for composites
The future of the composite model remains uncertain as the industry waits to see if another insurance giant will swoop on Aviva's general insurance arm.
RSA said it remained "open to discussions" after Aviva rejected its £5bn offer for its general insurance businesses in the UK, Ireland and Canada, excluding RAC and health. Axa has also reportedly expressed an interest in Aviva's UK general insurance business.
The RSA bid was made on the 28 July via a letter from chairman John Napier. Aviva took 10 days to respond and Lord Sharman, chairman of Aviva, said the board's decision was unanimous and focused on "maximising value for Aviva shareholders"
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