Tag: Aviva

Aviva in Talks for Piecemeal Sale of Italy Business: Sources | Investing News

By Pamela Barbaglia and Stephen Jewkes

LONDON/MILAN (Reuters) – Aviva

is weighing a piecemeal sale of its Italian business which consists of two joint venture agreements focused on life insurance as well as general insurance policies handled by a network of agents, sources familiar with the matter said.

The British insurer, which is also working on the possible sale of its French operations, holds a distribution agreement with UniCredit which expired this year, meaning no new policies are being sold through this network.

Aviva had also teamed up on a bancassurance partnership with Italian lender UBI Banca

, which is being taken over by Intesa Sanpaolo

.

Both joint venture platforms are being reviewed as part of Aviva’s plans to sell its Italian operations, the sources said.

The move comes after Aviva hired Morgan Stanley

to launch an auction process for its Italian business as its new boss Amanda Blanc

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Aviva: Swift Divestiture Shows New CEO Means Business (OTCMKTS:AIVAF)

U.K.-based insurer Aviva (AVIAF, AVVIY) recently outlined its planned strategic shift. Key to the business was the plan to divest non-core overseas assets, although for shareholders equally important is a review of the high yielding dividend, which I expect to be cut.

The company has announced a partial divestiture of its Singapore business which, given the swiftness since the previous announcement of the strategy of focusing on core business, suggests that the new chief executive is not wasting any time. I remain down on the stock, as I expect a dividend cut which will reduce its primary attraction as a high yielder. Nonetheless, the speed of the latest move is noteworthy as it suggests that Aviva may be changing quite a bit under its new leadership.

Aviva Will Sell Its Majority Singapore Holding

The company announced that it will sell a majority shareholding in Aviva Singapore to a consortium led

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