Other Citywire websites
Stay connected:

View the article online at http://citywire.co.uk/new-model-adviser/article/a649529

Aviva to pocket £350m in Dutch insurer sale

by Jun Merrett on Jan 09, 2013 at 07:06

Aviva to pocket £350m in Dutch insurer sale

Aviva could net £353 million after announcing its intention to sell its remaining stake in Dutch insurer Delta Lloyd.

Aviva has a 19% stake in the business and said a sale would form part of its strategy of narrowing the focus of the business.

Chief executive Mark Wilson (pictured) said: 'This sale will be a good start to 2013 and supports our strategy to narrow focus and make Aviva a more nimble and athletic organisation. It will further increase Aviva's cash and capital position and is consistent with our focus on businesses where we can earn higher returns.'

Aviva chairman John McFarlane implemented a strategic review of the business following previous chief executive Andrew Moss’ departure. Aviva reduced its stake in Delta Lloyd from 41% to 19% in July last year. At the end of 2012 it sold its US insurance arm and exited a joint venture with Spanish bank Bankia.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Opportunities emerge as production moves back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

A spotlight on Alastair Mundy


Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.

More about this article:

Look up the shares

  • Aviva PLC (AV.L)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive


Sorry, this link is not
quite ready yet