Aviva Sells Friends Provident
Aviva has sold off Friends Provident International which made a loss of £2m in 2016, to international life assurance group RL360.
“This is the second time this year that Aviva has sold a unit overseas.”
The sale means that Aviva will completely pull out of wealth management in Dubai, Hong Kong and Singapore once the deal completes. This is the second time this year that Aviva has sold a unit overseas, having already reduced its Spanish presence.
News Source: Telegraph
Aviva is a British multinational insurance company headquartered in London, United Kingdom. It has around 33 million customers across 16 countries. In the UK, Aviva is the largest general insurer and a leading life and pensions provider. In addition, Aviva has a focus on five markets in Europe and, in Asia, the company is focused on the growth markets of China and South East Asia. Aviva is also the second largest general insurer in Canada.
- Origin: United Kingdom
- Revenue: £55,292 million
- Net Income: £859 million
- Employees: 29,500
Official Website: www.aviva.com
News & Media: Press Release
Updated on 8th August 2016