Aviva Completes Sale of Spanish Business

RNS Number : 8567Q

Aviva PLC

15 September 2017

 

15 September 2017

AVIVA COMPLETES SALE OF SPANISH BUSINESSES

Aviva plc ("Aviva") announces that it has completed the sale of its 50% shareholding in life insurance and pension joint ventures Unicorp Vida[1] and Caja España Vida[2], as well as its retail life insurance business Aviva Vida y Pensiones[3], to Santalucía[4]. Total consideration of the transaction is €475m (£424m). This follows the announcement of the sale by Aviva on 10 May 2017.

In Spain, Aviva continues to hold shareholdings in life insurance joint ventures with Caja Granada and Cajamurcia, both part of Banco Mare Nostrum, and Pelayo Group[5].

-ends-

Enquiries:

Media

Yasmin Saleh                                                                                                     [phone]        

Analysts

Chris Esson                                                                                                         [phone]

Diane Michelberger                                                                                       [phone]

Notes to editors:

·     Proceeds converted to GBP at an exchange rate of €1.12/£1

About Aviva

·     Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers, across 16 markets worldwide.

·     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 £340 billion in assets. Total group assets under management at Aviva group are £450 billion.

·     Aviva helps people save for the future and manage the risks of everyday life; we paid out £34.4 billion in benefits and claims in 2016. 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.

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[1] Unicorp Vida Compañía de Seguros y Reaseguros, S.A. is a 50-50 joint venture with Unicaja Banco

[2] Caja España Vida Sociedad de Seguros y Reaseguros, S.A. is a 50-50 joint venture with Caja España, now part of Banco Ceiss

[3] Including Aviva Vida y Pensiones' fund management subsidiary Aviva Gestión Sociedad Gestora de Instituciones de Inversión Colectiva, S.A.

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

[5] Legal entity names: Caja Granada Vida de Seguros y Reaseguros, S.A.; Caja Murcia Vida y Pensiones de Seguros y Reaseguros, S.A.; Banco Mare Nostrum, S.A.; Pelayo Vida Seguros y Reaseguros, S.A.

 

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