Allianz to acquire Aviva's non-life activities in Italy

The Allianz group has acquired Aviva's non-life activities in Italy from Aviva Italia Holding. The transaction is valued at 330 million EUR (392 million USD).

The portfolio is equally divided between the motor and non-motor classes of business, with a turnover of approximately 400 million EUR (475 million USD).

The operation, which should be finalized during H2 2021, is still subject to approval by the competent authorities.

About 500 agents and their clients as well as the employees of Aviva Italy will join the German insurer.

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