Aviva sells Italian GI business to Allianz
The insurer has confirmed it completed the sale of Aviva Italia for £284m.
Aviva announced it had sealed the deal on its Italian general insurance business and sold it to Allianz.
The deal saw Aviva receive £284m (€330m) in cash consideration. The transaction was first announced on 4 March 2021.
The sale is said to streamline the company and help it maintain its focus on the core markets of the UK and Ireland. The insurer said it was keen on transforming its performance and improve its efficiency in these markets, in which it believes the business shows “significant
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