Aviva sells its life activities in Italy to CNP Assurances

Aviva sells its life insurance activities in Italy to CNP Assurances. Financed by the French group from its own resources, the transaction amounts to 543 million EUR (646.778 million USD).

The scope of the transaction includes 51% of the life insurance company Aviva, 49% jointly owned by UniCredit, 100% of Aviva Life SpA and the operational services company Aviva Italia Servizi. The transaction is yet to be approved by the competent authorities.

For the record, the British group has already sold its entire 80% stake in the Italian life insurance joint venture Aviva Vita to Ubi Banca.

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