Completion of sale of JV with Credit du Nord

RNS Number : 6480B

Aviva PLC

05 April 2017

 

5 April 2017

AVIVA COMPLETES SALE OF SHAREHOLDING IN JOINT VENTURE

WITH CRÉDIT DU NORD IN FRANCE

Aviva plc ("Aviva") announces that it has completed the sale of its entire 50% shareholding in life insurance joint venture Antarius to Sogecap, a subsidiary of Société Générale, for a consideration of £425 million (€500 million), in cash. This follows the announcement of the sale by Aviva on 9^th February 2017.

Antarius was a consolidated subsidiary of Aviva

€500m consideration converted to GBP at an exchange rate of €1 / £0.85

Enquiries:

Media

Andrew Reid                                                                           [phone]

Yasmin Saleh                                                                          [phone]

Analysts

Chris Esson                                                                            [phone]

Notes to editors:

·     Aviva's LEI code is YF0Y5B0IB8SM0ZFG9G81

·     Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.

·     In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.  

·     Aviva's asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £340 billion in assets. Total group assets under management at Aviva group are £450 billion.

·     Aviva provides life, health and general insurance and investments products to approximately 3 million customers in France and benefits from a strong and well diversified distribution, which includes a tied agency network of approximately 950 agents; a direct business which is a leading provider of car insurance; and Union Financière de France, one of the largest wealth asset management advisor networks in the market. Aviva also has a distribution agreement with AFER, the largest savings and pensions association in France.

·     Aviva helps people save for the future and manage the risks of everyday life; we paid out £34.4 billion in benefits and claims in 2016.

·     By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.

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