Aviva exits Spain
Aviva has completed the sale of its entire shareholding in life insurance and pensions joint venture, Cajamurcia Vida and Caja Granada Vida to Bankia.
The operation, for a total amount of €203m, had been announced on 23 February 2018.
Aviva has also agreed the sale of its 50% shareholding in Spanish life insurance Pelayo Vida to Santalucía, which completes Aviva’s withdrawal from the market.
The transaction, still subject to regulatory and anti-trust approvals, is expected to complete in the fourth quarter of 2018.
In April, Aviva completed the sale of the entire shareholding in its joint venture in Italy Avipop Assicurazioni SpA (the JV) to Banco BPM for a total amount of €267.9m.