Aviva completes sale of Eastern European life business

by Gill Montia

Story link: Aviva completes sale of Eastern European life business

Aviva has completed the sale of its Czech, Hungarian and Romanian life businesses to MetLife Inc’s local operating subsidiaries in those countries.

In addition, the sale of its Romanian pensions business is expected to occur later this year, subject to regulatory approval.

This transactions are consistent with Aviva’s strategy of focusing on fewer business segments and on priority markets.

As at 30th June 2011, the combined net assets of the businesses changing hands today were around €57 million.