Aviva Completes Exit From Spain

RNS Number : 2856U

Aviva PLC

11 July 2018

 

11 July 2018

AVIVA COMPLETES EXIT FROM SPAIN

Aviva plc ("Aviva") announces that it has completed the sale of its entire shareholding^[1] in life insurance and pensions joint ventures, Cajamurcia Vida^[2] and Caja Granada Vida^[3], to Bankia^[4]. The final consideration of the transaction is €203 million (£179 million). This follows the announcement of the sale by Aviva on 23 February 2018.

Aviva has also agreed the sale of its 50% shareholding in Spanish life insurance operation, Pelayo Vida^[5], to Santalucía^[6]. This transaction completes Aviva's withdrawal from the market. The transaction is subject to regulatory and anti-trust approvals and is expected to complete in the fourth quarter of 2018.

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Enquiries:

Media

Yasmin Saleh                                                                                                     [phone]        

Analysts

Chris Esson                                                                                                         [phone]

Diane Michelberger                                                                                       [phone]

Notes to editors:

·     Proceeds converted to GBP at an exchange rate of €1.131/£1

·     Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.

·     In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.  

·     Aviva's asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £350 billion in assets. Total group assets under management at Aviva group are £490 billion.

·     Aviva helps people save for the future and manage the risks of everyday life; we paid out £34.6 billion in benefits and claims in 2017.

·     By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.

·     The Aviva newsroom at www.aviva.com/newsroom includes links to our image library, research reports and our news release archive.

·    For an introduction to what we do and how we do it, please click here www.aviva.com/about-us

·     Follow us on twitter: www.twitter.com/avivaplc/ 

·     Follow us on LinkedIn: www.linkedin.com/company/aviva-plc

·     For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva

·     We have a Globelynx system for broadcast interviews. Please contact the Press Officer noted above if you would like to make a booking.

 

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[1] Aviva holds 50% shareholding in Cajamurcia Vida and 25% shareholding in Caja Granada

[2] Cajamurcia Vida y Pensiones de Seguros y Reaseguros, S.A.

[3] Caja Granada Vida, Compañía de Seguros y Reaseguros, S.A.

[4] Bankia SA

^[5] Pelayo Vida Seguros y Reaseguros S.A.

^[6] Santa Lucía, S.A, Compañía de Seguros y Reaseguros

 

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