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.

ABOUT THE AUTHOR
Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

Read more from Eugenia Jimenez

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