Aviva looking at Co-op purchase
Aviva is considering a bid for the general insurance business of Co-operative Group, according to The Sunday Times.
The news came less than a week after Aviva announced plans to shed 2,000 jobs across the UK, Europe and Asia.
The article listed Aviva as looking at Co-operative Insurance which was confirmed as being for sale last month.
It also reported that Ageas, along with deal maker Edmund Truell who was linked last year to a bid for Direct Line, could make a move to acquire the business.
In March Co-op Insurance posted a deteriorating combined operating ratio of 110.9% for 2012 as pre-tax profits tumbled
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